Essex Property Trust, Inc. | REIT Profile

Symbol: ESS
CIK: 920522
Exchange: NYSE
Founded: 1971 (51 years)
HQ: San Mateo, CA, United States
Type of REIT: Equity REIT
Listing Status: Public
Market Capitalization: Large-Cap
REIT Sector: Residential

See ESS on Google Finance
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See ESS on SEC.gov

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Overall Score: 8.2

See score breakdown | See trend

REITRating is REITNote's Real Estate Investment Trust industry-specific rating and ranking system. The overall score is out of ten points, with ten being the best score. Learn More


Essex Property Trust, Inc. Company Logo

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Hightlights of Trading Day January 14, 2022


Open Price: $345.81
Closing Price: $343.96
Price Change: -3.82 (-1.098%)
Lowest Price: $340.03
Highest Price: $347.36

52-Week Low: $228.95
52-Week High: $359.49
52-Week Change: 50.69%

5 Day Price Change: -0.34%
1 Month Price Change: -0.74%
3 Month Price Change: 5.01%
6 Month Price Change: 9.87%
YTD Price Change: -1.26%
1 Year Price Change: 51.16%
2 Year Price Change: 21.38%
5 Year Price Change: 77.22%

Dividend of Trading Day January 14, 2022


Dividend Yield: 2.431%*
Annualized Dividend: $8.36*
Dividend Yield (TTM): 2.381%
Annualized Dividend (TTM): $8.2816
Ex-Dividend Date: 2021-12-31
Dividend Frequency: Quarterly

*The forward annualized dividend and dividend yield are based on the most recent dividend value paid by the REIT. The REIT may have already announced their next upcoming dividend value, which may be different from previously paid dividend value. It is recommended to check the REIT's website and dividend announcements for the latest information on upcoming dividends and changes. This graph does not include extraordinary dividend.

Latest News Headlines


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Funds From Operations (FFO)


Funds From Operations (FFO)

Key Stats of Trading Day January 14, 2022


Total Cash: $49,910,000
Current Debt: $396,241,000
Revenue: $1,431,033,000
Gross Profit: $1,431,033,000
Total Revenue: $1,431,033,000
Earnings Before Interest, Taxes & Depreciation Amortization (EBITDA): $1,369,152,000
Revenue Per Share: $22
Revenue Per Employee: $785,419
Employee: 2,018
Debt to Equity Ratio (D/E): 2.15
Profit Margin: 0.31%
Enterprise Value (EV): $28,674,635,865
Enterprise Value to Revenue (EV/R): 20.04
Price to Sales (P/S): 15.82
Price to Book (P/B): 3.80
Price/Earnings-to-Growth (PEG) Ratio: -2.02
P/E Ratio: 50.14
P/E High: 70.13
P/E Low: 49.83
Forward P/E Ratio: 68.02
Market Capitalization: $22,387,610,351
Beta: 0.82
Latest Volume: 220,669
Avg. Total Volume: 302,197
Avg. 10-Day Volume: 255,838
Avg. 30-Day Volume: 302,197
TTM EPS: 6.86
Shares Outstanding: 65,087,831
Float: N/A
50-Day Moving Avg.: $344.19
200-Day Moving Avg.: $329.81

Latest REIT Community Comments on #ESS


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Properties Owned by ESS


Properties Based on REIT's Official Presentation

Properties Types States Countries
245 1 2 1

Please visit REIT’s official webpage for the most up-to-date property list.

ESS Sample Property

Sample of REIT’s Properties. Image Source - REIT’s website


Properties Based on Earnings Report's 10-K

Occupancy Rate



Different REITs may report Occupancy levels in various forms/calculations. Some of the terms used to describe occupancy are Portfolio Occupancy, Weighted Average Occupancy, Ending Occupancy, Economic Occupancy, Leased Occupancy, Physical Occupancy, Pro Forma Occupancy, Same-Property Occupancy, Stabilized Portfolio Occupancy, Comparable Occupancy, Lease Rate, Percent Leased, among others. Some REITs interchange the words Occupancy and Leased while others use them to distinguish between data points. Some REITs also vary the use of the words over time through their earning reports. Therefore the information provided here is our best attempt at collecting data on occupancy/leased trends. However, it may not be accurate or comparable between different REITs.

REIT Simulation


Below is a simulation of how much money you would have made in dividends, and how much the shares would be worth had you purchased them 1 year ago for the amounts below.

With $1,000 USD With $500 USD With $250 USD With $100 USD With $50 USD
Initial investment @ $315.25 per share you would have been able to buy 3 shares of ESS on 2021-01-16 costing $945.75 @ $315.25 per share you would have been able to buy 1 shares of ESS on 2021-01-16 costing $315.25 @ $315.25 per share you would have been able to buy 0 shares of ESS on 2021-01-16 costing $0.00 @ $315.25 per share you would have been able to buy 0 shares of ESS on 2021-01-16 costing $0.00 @ $315.25 per share you would have been able to buy 0 shares of ESS on 2021-01-16 costing $0.00
Current worth On 2022-01-14 these 3 shares would be worth $1,031.88 @ $343.96 On 2022-01-14 these 1 shares would be worth $343.96 @ $343.96 On 2022-01-14 these 0 shares would be worth $0.00 @ $343.96 On 2022-01-14 these 0 shares would be worth $0.00 @ $343.96 On 2022-01-14 these 0 shares would be worth $0.00 @ $343.96
Dividends earned $25.08 in dividends would have been earned since 2021-01-16 with 3 shares. $8 in dividends would have been earned since 2021-01-16 with 1 shares. $0.00 in dividends would have been earned since 2021-01-16 with 0 shares. $0.00 in dividends would have been earned since 2021-01-16 with 0 shares. $0.00 in dividends would have been earned since 2021-01-16 with 1 shares.
Net (gain / loss)* 111.21 USD 37.07 USD 0.00 USD 0.00 USD 0.00 USD
ROI** 11.76% 11.76% nan% nan% nan%

*Net (Gains/Loss): Includes the stock price (appreciate or depreciate ) + dividends earned during period held. Stock prices based on closing price for the date. **ROI: Is based on the Net (gain/loss) divided by the initial investment value. Note: Past performance is no guarantee of future results. This is a high-level simulation and does not account for many factors such as inflation and taxes so we cannot guarantee the accuracy of this simulation.

Dividend History


Below are the most recent cash dividends paid by ESS. The percent difference from one dividend payment to the next has also been calculated for your convenience. Dividends flagged as [E] are extraordinary dividend payments.


Symbol Ex Date Cash Amount Change in Dividend Declaration Date Record Date Payment Date
ESS 2021-12-31 2.090 --- 2021-12-10 2022-01-03 2022-01-14
ESS 2021-09-29 2.090 --- 2021-09-10 2021-09-30 2021-10-15
ESS 2021-06-29 2.090 --- 2021-05-12 2021-06-30 2021-07-15
ESS 2021-03-30 2.090 0.60% 2021-02-18 2021-03-31 2021-04-15
ESS 2020-12-31 2.078 --- 2020-12-08 2021-01-04 2021-01-15
ESS 2020-09-29 2.078 --- 2020-09-02 2020-09-30 2020-10-15
ESS 2020-06-29 2.078 --- 2020-05-14 2020-06-30 2020-07-15
ESS 2020-03-30 2.078 6.54% 2020-02-21 2020-03-31 2020-04-15
ESS 2019-12-31 1.950 --- 2019-12-16 2020-01-02 2020-01-15
ESS 2019-09-27 1.950 --- 2019-09-06 2019-09-30 2019-10-15
ESS 2019-06-27 1.950 --- 2019-05-15 2019-06-28 2019-07-12
ESS 2019-03-28 1.950 4.84% 2019-02-21 2019-03-29 2019-04-12
ESS 2018-12-31 1.860 --- 2018-12-14 2019-01-02 2019-01-15
ESS 2018-09-27 1.860 --- 2018-09-18 2018-09-28 2018-10-12
ESS 2018-06-28 1.860 --- 2018-05-21 2018-06-29 2018-07-13
ESS 2018-03-28 1.860 6.29% 2018-02-21 2018-03-29 2018-04-16
ESS 2017-12-28 1.750 --- 2017-12-13 2017-12-29 2018-01-16
ESS 2017-09-28 1.750 --- 2017-09-19 2017-09-29 2017-10-16
ESS 2017-06-28 1.750 --- 2017-05-18 2017-06-30 2017-07-14
ESS 2017-03-29 1.750 9.38% 2017-02-22 2017-03-31 2017-04-17

Financial Statements Overview


The next Earnings Report for ESS is 2022-02-02

Balance Sheet | Quarterly

See Annual Balance Sheet | See Quarterly Balance Sheet

Amounts in USD ($)

Balance Sheet 2021-09-30 2021-06-30 2021-03-31 2020-12-31
Current Cash 49,910,000 48,155,000 103,442,000 73,629,000
Receivables 213,985,000 238,855,000 266,896,000 195,104,000
Inventory 0 0 0 0
Current Assets 338,027,000 350,515,000 467,700,000 326,485,000
Current Assets (Other) 63,090,000 53,484,000 87,444,000 47,340,000
Short Term Investments 63,090,000 53,484,000 87,444,000 47,340,000
Long-term Investments 12,450,614,000 12,396,684,000 12,322,504,000 12,609,692,000
Property, Plant & Equipment Net 11,115,857,000 11,113,081,000 11,123,267,000 11,313,833,000
Goodwill 0 0 0 0
Intangible Assets 0 0 0 0
Other Assets 0 0 0 0
Net Tangible Assets 5,949,232,000 5,953,455,000 6,025,176,000 6,000,410,000
Total Assets 12,788,641,000 12,747,199,000 12,790,204,000 12,936,177,000
Accounts Payable 0 0 0 0
Liabilities (Other) 67,983,000 38,068,000 36,694,000 39,140,000
Current Liabilities (Other) 396,241,000 334,891,000 336,347,000 356,034,000
Total Current Liabilities 396,241,000 334,891,000 336,347,000 356,034,000
Current Long-term Debt 0 0 0 0
Long-term Debt 6,088,300,000 6,130,148,000 6,096,709,000 6,251,535,000
Total Liabilities 6,839,409,000 6,793,744,000 6,765,028,000 6,935,767,000
Minority Interest 215,365,000 218,274,000 222,077,000 215,021,000
Common Stock 65,048,486 65,001,677 64,989,620 65,127,153
Retained Earnings -917,315,000 -899,663,000 -828,625,000 -861,193,000
Treasury Stock 0 0 0 0
Capital Surplus 0 0 0 0
Shareholder Equity 5,949,232,000 5,953,455,000 6,025,176,000 6,000,410,000

Income Statement | Quarterly

See Annual Income Statement | See Quarterly Income Statement

Amounts in USD ($)

Income Statement 2021-09-30 2021-06-30 2021-03-31 2020-12-31
Total Revenue 362,857,000 350,978,000 355,125,000 362,073,000
Cost of Revenue 0 0 0 0
Gross Profit 362,857,000 350,978,000 355,125,000 362,073,000
Research and Development 0 0 0 0
Selling General and Admin 12,712,000 12,222,000 9,812,000 23,144,000
Operating Expense 267,675,000 257,556,000 257,825,000 272,546,000
Operating Income 95,182,000 93,422,000 97,300,000 89,527,000
Income Expense Net (Other) 0 2,260,000 100,096,000 64,967,000
EBIT 120,615,000 113,930,000 214,407,000 402,186,000
Interest Income 50,019,000 50,971,000 48,805,000 63,358,000
Pretax Income 128,043,000 71,457,000 176,949,000 103,180,000
Income Tax 3,041,000 1,842,000 0 1,531,000
Minority Interest 6,612,000 4,769,000 8,505,000 5,904,000
Net Income 118,390,000 64,846,000 168,444,000 95,745,000
Net Income Basic 118,390,000 64,846,000 168,444,000 95,745,000

Cash Flow | Quarterly

See Annual Cash Flow | See Quarterly Cash Flow

Amounts in USD ($)

Cash Flow 2021-09-30 2021-06-30 2021-03-31 2020-12-31
Net Income 118,390,000 64,846,000 168,444,000 95,745,000
Depreciation 130,564,000 128,736,000 128,587,000 525,497,000
Changes in Receivables 213,985,000 238,855,000 266,896,000 119,672,000
Changes in Inventories 0 0 0 0
Cash Change 49,910,000 48,155,000 103,442,000 -484,817,000
Cash Flow 271,806,000 232,805,000 195,266,000 803,108,000
Capital Expenditures -61,871,000 -58,042,000 -45,623,000 -550,506,000
Investments 0 0 0 0
Investing Activity (Other) 0 0 0 0
Total Investing Cash Flows -89,572,000 141,234,000 -146,869,000 -416,900,000
Dividends Paid 0 0 0 0
Net Borrowings 5,975,300,000 6,028,509,000 5,905,823,000 6,130,566,000
Cash Flow Financing -179,458,000 -135,485,000 -312,816,000 -383,261,000
Financing Cash Flows (Other) 0 0 0 0
Exchange Rate Effect 0 0 0 0

About Essex Property Trust, Inc.


Essex Property Trust, Inc., an S&P 500 company, is a fully integrated real estate investment trust (REIT) that acquires, develops, redevelops, and manages multifamily residential properties in selected West Coast markets. The portfolio is concentrated in select coastal submarkets along the West Coast, including Southern California, Northern California, and the Seattle metropolitan area. Essex currently has ownership interests in 246 apartment communities with an additional 5 properties in various stages of active development. Essex’s beginnings go back to 1971, when real estate entrepreneur, George M. Marcus formed Essex Property Corporation. In 1994, with a portfolio of 16 multifamily communities located on the West Coast, the Company made its public debut as Essex Property Trust, Inc. (NYSE:ESS).

REITRating™ Scorecard


Rating Dividend Section Avg. Rating
8 Dividend Payment Growth: Analysis of how the REIT’s dividend payments have performed during the last three years. 3.8
10 Dividend Payment Consistency: Analysis of how many periods the REIT’s dividends have been paid consistently without a gap in payment. 6.5
9 Dividend to FFO Core Payout Ratio Health: Analysis of the REIT’s Dividend to FFO Core Payout Ratios during the last four quarters. 8.8
10 Dividend to FFO Core Payout Ratio Trend: Analysis of the REIT’s Dividend to FFO Core Payout Ratios trend during the last two years. 7.7
Rating AFFO & Efficiency Section Avg. Rating
7 FFO Core Trend: Analysis of the REIT’s FFO Core trend during the last two years. 7.7
7 FFO Core to Revenue Health: Analysis of the REIT's Adjusted Funds From Operation to its Revenues. 6.8
10 Operating Expense Efficiency: Analysis of the REIT's Operating Expenses to its Revenues. 8.3
10 Operating Expense Efficiency Trend: Analysis of the trend of the REIT's Operating Expenses to its Revenue. 9.0
Rating Leverage Section Avg. Rating
10 Interest Coverage Health: Analysis of the REIT’s Interest Coverage health during the last four quarter. 7.2
10 Interest Coverage Health Trend: Analysis of the REIT’s Interest Coverage health trend during the last two years. 8.7
9 Total Debt Interest Rate Competitiveness: Analysis of the REIT’s Interest Rate to Total Debt competitiveness compared to REIT market. 7.8
9 Total Debt Interest Rate Trend: Analysis of the REIT’s Interest Rate to Total Debt trend during the last two years. 8.4
6 Debt Leverage Health: Analysis of the REIT’s Total Debt to Total Assets. 5.1
7 Debt Leverage Health Trend: Analysis of the REIT’s Total Debt to Total Assets over the last two years. 6.9
Rating Asset & Revenue Section Avg. Rating
4 Revenues Growth: Analysis of how the REIT's Revenue has performed over the last two years. 6.2
5 Total Asset Growth: Analysis of how the REIT has grown its Total Assets over the last two years. 6.2
Rating Properties Section Avg. Rating
9 Occupancy Health Level: Analysis of the REIT’s occupancy health level during the last four quarters. 7.1
9 Occupancy Trend: Analysis of the REIT’s occupancy trend over the last two years. 6.4
8 Portfolio of Properties: Analysis of the REIT's property's strength, size, and geographic distribution. 8.2
8 Tenants: Analysis of the REIT's tenant diversification, operation type, and exposure to risk. 8.0
Rating Market Cap Section Avg. Rating
7 Market Cap Strength: Analysis of the REIT's Market Capitalization performance, preservation and resistance in comparison to market changes. 5.5
8.2 Overall REITRating™ Score (See trend) 6.2

REITRating is REITNote's Real Estate Investment Trust industry-specific rating and ranking system. The REIT’s score for each analysis is out of ten points, with ten being the best score and zero being the worst. A score of zero can be assigned if the REIT does not meet the criteria for that specific analysis. N/A is assigned if insufficient data is available for a particular analysis. Our REITRating logic is continuously improving, so a REIT’s rating and ranking may change over time. Important Note: REITRating is not a predictor of a REIT’s future performance, it is an evaluation of its past results. Additionally, the REITRating system is for informational purposes only and does not represent financial or investment advice or a recommendation of which REITs to acquire. Learn more.

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Last updated: 2022-01-16 - v2.8