Essex Property Trust, Inc. Declares Quarterly Dividend of $2.59 (NYSE:ESS)

Essex Property Trust, Inc. (NYSE:ESS) announced a quarterly dividend on Thursday, May 14th. Stockholders of record on Tuesday, June 30th will be given a dividend of 2.59 per share by the real estate investment trust on Wednesday, July 15th. This represents a c) dividend on an annualized basis and a dividend yield of 3.9%. The ex-dividend date of this dividend is Tuesday, June 30th.

Essex Property Trust has raised its dividend by an average of 0.0%annually over the last three years and has raised its dividend annually for the last 31 consecutive years. Essex Property Trust has a payout ratio of 171.8% meaning the company cannot currently cover its dividend with earnings alone and is relying on its balance sheet to cover its dividend payments. Research analysts expect Essex Property Trust to earn $16.64 per share next year, which means the company should continue to be able to cover its $10.36 annual dividend with an expected future payout ratio of 62.3%.

Essex Property Trust Price Performance

Shares of ESS traded down $2.97 during mid-day trading on Friday, reaching $265.56. The company had a trading volume of 184,332 shares, compared to its average volume of 517,224. The company’s 50 day simple moving average is $253.43 and its 200 day simple moving average is $255.32. Essex Property Trust has a 1-year low of $238.46 and a 1-year high of $294.09. The company has a debt-to-equity ratio of 1.22, a quick ratio of 0.98 and a current ratio of 0.98. The company has a market capitalization of $17.06 billion, a price-to-earnings ratio of 29.84, a P/E/G ratio of 11.77 and a beta of 0.71.

Essex Property Trust (NYSE:ESS) last posted its quarterly earnings results on Tuesday, April 28th. The real estate investment trust reported $1.65 earnings per share for the quarter, missing analysts’ consensus estimates of $3.96 by ($2.31). Essex Property Trust had a net margin of 30.03% and a return on equity of 10.00%. The company had revenue of $484.76 million during the quarter, compared to analyst estimates of $479.89 million. During the same quarter in the previous year, the business posted $3.97 earnings per share. Essex Property Trust has set its Q2 2026 guidance at 3.920-4.040 EPS. Analysts expect that Essex Property Trust will post 16.04 EPS for the current year.

About Essex Property Trust

Essex Property Trust, Inc (NYSE: ESS) is a publicly traded real estate investment trust that acquires, develops, owns and operates multifamily residential properties. The company focuses on market-rate apartment communities and delivers a full suite of property services including leasing, resident services, asset management, and capital improvement programs designed to preserve and enhance long?term property values.

Essex concentrates its portfolio in West Coast markets, with a significant presence in California and the Pacific Northwest.