Essex Property (ESS) Buys JV Partner's Stake in BEXAEW Portfolio [Yahoo! Finance]
Essex Property Trust, Inc. (ESS)
Last essex property trust, inc. earnings: 1/29 04:15 pm
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investors.essexapartmenthomes.com
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Source: Yahoo! Finance
The move comes as part of the company's efforts to boost its asset base and drive profitability. Comprising four properties, this portfolio totals 1,480 apartment homes and generated an 11.4% IRR. Essex Property will recognize roughly $1.5 million in promote income, which will be excluded from its core FFO. While the seller's cap rate is approximately 5.25%, the company estimates a 5.9% year-one yield after the incorporation of additional economic benefits on the full integration of this portfolio into ESS' operating platform. Essex Property repaid $219.9 million of debt, encumbering the properties simultaneously with the closing and consolidating the communities on its financials. Essex Property enjoys a robust property base and a strong management team. This residential REIT's substantial exposure to the West Coast market has offered ample scope to enhance its top line. The West Coast is home to several innovation and technology companies that drive job creation and income gro
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ESS
News
- Essex Property Trust, Inc. (NYSE: ESS) was downgraded by analysts at StockNews.com from a "hold" rating to a "sell" rating.MarketBeat
- Essex Property Trust, Inc. (NYSE: ESS) had its price target lowered by analysts at Truist Financial Co. from $259.00 to $255.00. They now have a "hold" rating on the stock.MarketBeat
- Essex Property Trust, Inc. (NYSE: ESS) was upgraded by analysts at StockNews.com from a "sell" rating to a "hold" rating.MarketBeat
- Essex Announces Release and Conference Call Dates for Its First Quarter 2024 EarningsBusiness Wire
- Essex Property Trust: A Dividend Aristocrat Worth Buying Now [Seeking Alpha]Seeking Alpha
ESS
Earnings
- 2/6/24 - Beat
ESS
Sec Filings
- 3/28/24 - Form DEF
- 3/28/24 - Form DEFA14A
- 3/28/24 - Form ARS
- ESS's page on the SEC website