Essex Property Trust (ESS) News & Sentiment

Essex Property Trust (ESS) shared its earnings report 30 days ago. What can we expect for the stock moving forward?

ESS has announced a 4.9% increase in its annual dividend, marking the 31st year in a row that it has raised this payment. This move is aimed at enhancing the wealth and confidence of its shareholders.

WILSONVILLE, Ore.--(BUSINESS WIRE)--ESS Tech, Inc. (ESS) (NYSE:GWH), a top producer of iron flow long-duration energy storage systems for large-scale utility and commercial use, has announced some changes to shift the company's strategy. Eric Dresselhuys has stepped down as CEO and from the Board of Directors. Kelly Goodman, who is currently the Vice President of Legal, has been named the interim CEO.

Essex Property Trust, Inc. (NYSE:ESS) has announced that its operating partnership, Essex Portfolio, L.P., has set the price for a public offering of $400 million in senior notes with a 5.375% interest rate, due in 2035. These notes were priced at 99.604% of their face value, offering a yield to maturity of 5.425%. Interest payments will be made twice a year on April 1 and October 1.

Essex Property Trust, Inc. has experienced a 29% rise in its shares over the last year, driven by a shortage of housing and increased rental prices in California. Positive results from the fourth quarter, such as a 2.3% growth in funds from operations and low turnover rates, suggest a promising future for Essex through 2025. Although costs are rising, especially for insurance and staff, strong demand and limited housing availability, particularly after the wildfires, help balance these challenges.

ESS Tech, Inc. (NYSE: GWH) is a company based in Wilsonville, Oregon, that creates and produces iron redox flow batteries and is competing in the growing long-duration energy storage market. Since going public through a SPAC deal in late 2021, investors have faced challenges, but it seems that the situation is starting to improve.

Essex Property Trust, Inc. (NYSE:ESS) will hold its Q4 2024 Results Conference Call on February 5, 2025, at 12:00 PM ET. The call will feature company leaders, including President and CEO Angela Kleiman and EVP and CFO Barb Pak. Various analysts from major financial institutions will also participate in the discussion.

Essex Property Trust (ESS) reported quarterly funds from operations (FFO) of $3.92 per share, which is higher than the Zacks Consensus Estimate of $3.90 per share. This is an increase compared to last year's FFO of $3.83 per share.

Even with high supply levels, ESS's results for the fourth quarter are expected to reflect the advantages of a strong property foundation, good demand, and technological improvements.