Latest news with #EssexPropertyTrust
Business Wire
3 days ago
- Business
- Business Wire
Essex Property Trust Named a Best Company to Work For by U.S. News & World Report
SAN MATEO, Calif.--(BUSINESS WIRE)--Essex Property Trust, Inc. (NYSE:ESS) announced today that it was named a 2025-2026 Best Company to Work For by U.S. News & World Report. Additionally, the Company was named a Best Company to Work For in Real Estate and Facilities Management and a Best Company to Work For in the West. The Company's recognition can be found here. 'We are proud to be named a Best Company to Work For by U.S. News & World Report in three categories. This achievement recognizes our continuous effort to create a dynamic, rewarding workplace and a culture that promotes growth opportunities for our talented associates at Essex,' said Angela Kleiman, Essex's President and CEO. The rigorous selection methodology employed by U.S. News & World Report is detailed here. 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. Essex currently has ownership interests in 257 apartment communities comprising over 62,000 apartment homes with an additional property in active development. Additional information about the Company can be found on the Company's website at
Yahoo
3 days ago
- Business
- Yahoo
Essex Property Trust Named a Best Company to Work For by U.S. News & World Report
SAN MATEO, Calif., May 29, 2025--(BUSINESS WIRE)--Essex Property Trust, Inc. (NYSE:ESS) announced today that it was named a 2025-2026 Best Company to Work For by U.S. News & World Report. Additionally, the Company was named a Best Company to Work For in Real Estate and Facilities Management and a Best Company to Work For in the West. The Company's recognition can be found here. "We are proud to be named a Best Company to Work For by U.S. News & World Report in three categories. This achievement recognizes our continuous effort to create a dynamic, rewarding workplace and a culture that promotes growth opportunities for our talented associates at Essex," said Angela Kleiman, Essex's President and CEO. The rigorous selection methodology employed by U.S. News & World Report is detailed here. 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. Essex currently has ownership interests in 257 apartment communities comprising over 62,000 apartment homes with an additional property in active development. Additional information about the Company can be found on the Company's website at View source version on Contacts Loren RaineyDirector, Investor Relations(650) 655-7800lrainey@ Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Yahoo
7 days ago
- Business
- Yahoo
3 U.S.-Based Dividend Stocks to Buy Today
Essex Property Trust is focused on owning West Coast apartment complexes. Rexford Industrial specializes in owning industrial properties in Southern California. Kilroy Realty primarily owns West Coast office buildings. 10 stocks we like better than Rexford Industrial Realty › It is possible to invest in U.S.-based companies that pay dividends of up to 6.5% with 100% certainty that the assets they own are American through and through. How? By focusing on real estate investment trusts (REITs) like Essex Property Trust (NYSE: ESS), Rexford Industrial Realty (NYSE: REXR), and Kilroy Realty (NYSE: KRC). By design, these three REITs are U.S.-based businesses. Here's what you need to know about each one. Essex Property Trust's physical assets are apartment buildings. Its portfolio consists of 256 apartment complexes containing around 62,000 units across three broad markets: Seattle (17% of net operating income), Southern California (40%), and Northern California (43%). That's not just 100% American, that's 100% West Coast. For many years, Essex benefited from the growth of the technology sector. The coronavirus pandemic and the work-from-home trend have caused some investors to worry about the business model. But as more and more companies demand employees come back to the office, it seems likely that the lingering headwinds from the pandemic will eventually be a thing of the past. And, despite the uncertainty, occupancy in Essex's markets remains strong while new apartment construction remains low. In other words, the REIT is well-positioned for continued success. The dividend yield right now is around 3.5%. It was higher during the pandemic period, but it is still toward the higher side of the stock's 10-year yield range. And the dividend has been increased annually for more than three decades, including during the uncertainty of the pandemic. Rexford Industrial owns warehouses and light-industrial properties. Unlike the other two REITs here, it is hyper-focused on one single geographic region, Southern California, an important gateway for goods from Asia entering the U.S. The company owns 424 industrial properties containing 54 million square feet of space. The key benefit of being in this market is its importance to global trade. But there's more to it, because Southern California is supply-constrained. That has resulted in occupancy levels that are generally higher than in other parts of the country. And with limited options for building new industrial properties, the REIT has material power to increase rents over time. It also has a penchant for buying older properties and upgrading them so rents can be increased. Right now, however, the world is focused on tariff risks. And Rexford's stock has sold off even though it is a vital way to invest in America. The yield is near the highest levels in the REIT's history at 4.8%, and the dividend has been increased annually for a dozen years and counting. Kilroy Realty specializes in offices, which have been hit even harder by the work-from-home trends than apartments. It owns 123 offices containing around 17 million square feet of space. The buildings are spread across three states: California, Washington, and Texas. The move into Texas is recent, as Kilroy has basically followed its technology tenants into the state. The company has also been increasingly focusing on life sciences properties, which are more specialized than traditional office assets. Working from home has been a particular issue for Kilroy, with occupancy in the office sector falling dramatically. Its occupancy is in the low 80% range, which might worry some investors. That said, the REIT's leasing activity has been picking up, and while it isn't back to pre-pandemic levels, it is inching back that way, which suggests that the worst of the downturn is behind it. The REIT offers a lofty 6.5% dividend yield. That's a sign of the concern that investors have about offices and Kilroy's ability to maintain its dividend. It cut its dividend during the Great Recession and hasn't increased it since June 2022. So there is reason for concern, but the funds-from-operations payout ratio was only around 55% or so in the first quarter of 2025. There's some room for adversity here before a cut would likely be in the cards. For more aggressive investors looking for high-yield American stocks, Kilroy could be a strong choice. If you want to buy American, it would be hard to do so more directly than buying buildings that are located in the good old U.S.A. That's what Essex, Rexford, and Kilroy all do, with a particular focus on the West Coast. Each one has a slightly different story, but all are worth a closer look today if you are trying to find U.S.-based dividend stocks to add to your portfolio. Before you buy stock in Rexford Industrial Realty, consider this: The Motley Fool Stock Advisor analyst team just identified what they believe are the for investors to buy now… and Rexford Industrial Realty wasn't one of them. The 10 stocks that made the cut could produce monster returns in the coming years. Consider when Netflix made this list on December 17, 2004... if you invested $1,000 at the time of our recommendation, you'd have $639,271!* Or when Nvidia made this list on April 15, 2005... if you invested $1,000 at the time of our recommendation, you'd have $804,688!* Now, it's worth noting Stock Advisor's total average return is 957% — a market-crushing outperformance compared to 167% for the S&P 500. Don't miss out on the latest top 10 list, available when you join . See the 10 stocks » *Stock Advisor returns as of May 19, 2025 Reuben Gregg Brewer has no position in any of the stocks mentioned. The Motley Fool has no position in any of the stocks mentioned. The Motley Fool has a disclosure policy. 3 U.S.-Based Dividend Stocks to Buy Today was originally published by The Motley Fool
Yahoo
17-05-2025
- Business
- Yahoo
Essex Property Trust, Inc. (ESS) Maintains Steady Dividend: A Reliable High-Yield Pick
Essex Property Trust Inc. (NYSE:ESS) recently announced a new quarterly dividend, staying consistent with its commitment to rewarding shareholders. Aerial view of a large REIT building complex, its facade reflecting the city skyline. Essex Property Trust, Inc. (NYSE:ESS) is an American real estate investment trust (REIT) company, headquartered in California. On May 15, the company declared a quarterly dividend of $2.57 per share, which was consistent with its previous dividend. The company has maintained a steady track record of increasing its dividend payouts every year since going public in 1994, marking 31 years of uninterrupted dividend growth and a total increase of 516% over that period. Additionally, from its IPO through January 2025, Essex delivered a total shareholder return of 5,615%, significantly outperforming the S&P Index's 2,242% and the 1,411% return of the NAREIT All Equity REITs. Essex Property Trust, Inc. (NYSE:ESS) operates as a fully integrated REIT focused on acquiring, developing, redeveloping, and managing apartment communities in markets with limited housing supply, such as Southern California, the San Francisco Bay Area, and the Seattle metro region. The Dividend Aristocrat offers a dividend yield of 3.56%, as of May 17, and will trade ex-dividend on June 30. While we acknowledge the potential of ESS to grow, our conviction lies in the belief that some AI stocks hold greater promise for delivering higher returns and have limited downside risk. If you are looking for an AI stock that is more promising than ESS and that has 100x upside potential, check out our report about this cheapest AI stock. READ NEXT: and Disclosure. None.
Yahoo
09-05-2025
- Business
- Yahoo
Essex sees new lease rents turn positive
This story was originally published on Multifamily Dive. To receive daily news and insights, subscribe to our free daily Multifamily Dive newsletter. Essex Property Trust's core West Coast markets saw new lease rents turn positive in the first quarter, with Northern California rising 1.5%, Seattle increasing 1.3% and even Southern California ticking up 20 basis points. Overall, the Palo Alto, California-based REIT achieved 2.8% blended net effective rent growth in Q1, which was slightly ahead of its expectations. Despite this solid performance, Essex was not ready to increase guidance for the full year, with uncertainty around U.S. trade policy leading to economic turbulence. 'As we navigate this complex environment, we will be nimble with our operating and investment strategy, [and] remain focused on our objective to maximize revenues and to generate long-term accretion,' CEO Angela Kleiman said on the call last week. Essex's decision to maintain its GAAP same-store revenue, expense and net operating income growth guidance of 3.0%, 3.75% and 2.7%, respectively, was expected by Anthony Paolone, executive director at JPMorgan. 'Similar to its apartment REIT peers that have reported thus far, we find no surprise in Essex maintaining its guidance despite the outperformance in the quarter,' Paolone said in a research note shared with Multifamily Dive. Despite not raising guidance, Essex likes the supply-demand fundamentals in its major West Coast metros. 'Total new housing supply delivery as a percentage of stock in 2025 is exceptionally low at only 50 basis points in the Essex markets and is expected to moderate throughout the year and to decrease further in 2026,' Kleiman said. The CEO pointed to two factors driving Essex's Q1 performance. First, after being elevated in the years following COVID-19, delinquency is falling. In Los Angeles, a trouble spot for apartment operators, delinquency improved to 1.3% of scheduled rent compared to 3.9% in Q1 2024. 'Second, we executed our operating strategy, which contributed to a notably low turnover rate of 35%, while achieving positive new lease rate growth and stable occupancy levels,' Kleiman said. As turnover and delinquency improve, the job situation seems to be getting better in Essex's tech markets. 'When we look at the third-party reports, what we're seeing is that the open jobs of the top 20 tech companies — that's the most meaningful indicator of the health of that sector — has remained steady and [is] incrementally increasing each month,' Kleiman said. 'So it troughed in around November, [and] December, but that's typically a seasonally low period. But since then, every month it has increased. And that gives us an indication of the hiring to come.' Parts of Northern California — specifically Santa Clara and San Mateo counties — and Seattle led Essex's portfolio in Q1. Even struggling markets in those areas are starting to turn around. Despite Oakland being a drag on Essex's portfolio with negative 1.2% in new lease rate growth in the first quarter, the city has begun to 'demonstrate incremental improvement as supply abates and concessions moderate,' Kleiman said. '[In] Oakland, what we're showing is that 75% of the supply is delivering in the first half,' Kleiman said. 'So by mid-year, we expect Oakland to start to revert back to a more normalized market dynamic. I don't think it's going to happen overnight, but it's finally going to turn.' Southern California still lags Northern California and Seattle, though it is improving. For Los Angeles, delinquency needs to return to near historical average, according to Kleiman. 'Right now, we're making great progress, but we're not there yet,' she said. 'Delinquency at 1.3% is still well above the historical average in LA.' Once delinquency falls, Essex can start building occupancy and eventually pricing power. But there are headwinds with the film industry still struggling, according to Kleiman. Category Q1 YOY Change Revenue $395.6 million 3.4% Net operating income $284.9 million 3.3% Operating expenses $124.3 million 3.8% Funds from operations $3.97 -13.7% Average rent $2,667 2.1% Occupancy rate 96.3% 0 bps SOURCE: Essex 'As far as the market is concerned, [the] labor market remains soft,' Kleiman said. 'And I think that is [due to] a lot of things happening there, I don't think that's too dissimilar from a national level in terms of just a generally soft employment economy.' Click here to sign up to receive multifamily and apartment news like this article in your inbox every weekday. Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
