Essex Property Trust, Inc. (ESS) Q4 2024 Earnings Call Transcript
Essex Property Trust, Inc. (NYSE:ESS ) Q4 2024 Results Conference Call February 5, 2025 12:00 PM ET Company Participants Angela Kleiman - President, CEO Barb Pak - EVP, CFO Rylan Burns - EVP, Chief Investment Officer Conference Call Participants Nick Yulico - Scotiabank Eric Wolfe - Citibank Austin Wurschmidt - KeyBanc Capital Markets Steve Sakwa - Evercore ISI Jeff Spector - Bank of America Jamie Feldman - Wells Fargo Brad Heffern - RBC Capital Markets Adam Kramer - Morgan Stanley Alexander Goldfarb - Piper Sandler Haendel St. Juste - Mizuho Securities John Kim - BMO Capital Markets Wes Golladay - Baird Rich Hightower - Barclays Julien Blouin - Goldman Sachs Michael Goldsmith - UBS Rich Anderson - Wedbush Securities Tayo Okusanya - Deutsche Bank Alex Kalmus - Zelman & Associates Operator Good day, and welcome to Essex Property Trust Fourth Quarter 2024 Earnings Call. As a reminder, today's call conference is being recorded.
Essex Property Q4 FFO Beats Estimates, Revenues Increase Y/Y
ESS' Q4 results reflect an increment in same-property revenues and net operating income.
Compared to Estimates, Essex Property Trust (ESS) Q4 Earnings: A Look at Key Metrics
While the top- and bottom-line numbers for Essex Property Trust (ESS) give a sense of how the business performed in the quarter ended December 2024, it could be worth looking at how some of its key metrics compare to Wall Street estimates and year-ago values.
Essex Property Trust (ESS) Q4 FFO and Revenues Top Estimates
Essex Property Trust (ESS) came out with quarterly funds from operations (FFO) of $3.92 per share, beating the Zacks Consensus Estimate of $3.90 per share. This compares to FFO of $3.83 per share a year ago.
What's in Store for Essex Property This Earnings Season?
Despite elevated supply, ESS' Q4 results are likely to show the benefits of a solid property base, healthy demand and technological initiatives.
Essex Property Trust (ESS) Surges 4.1%: Is This an Indication of Further Gains?
Essex Property Trust (ESS) witnessed a jump in share price last session on above-average trading volume. The latest trend in FFO estimate revisions for the stock suggests that there could be more strength down the road.
Essex Property Trust: Limited Supply Enables Further Growth
Essex Property Trust has gained 35% over the past year, benefiting from limited new apartment supply in California and a defensive geographic positioning. Essex's markets face significantly less new supply than the Sun Belt, with just 0.5% annual supply growth expected from 2023-2025. Despite rising costs, Essex maintains a solid balance sheet and expects 4-5% growth in FFO, with a fair value target of $320-325.
Should Essex Property Stock be Retained in Your Portfolio Now?
A sturdy property base in the West Coast market, technology initiatives and a healthy balance sheet pose ESS for future growth. High supply of rental units ail.
Essex Property Stock Up 16.7% in Six Months: Will It Rise Further?
ESS is likely to benefit from favorable West Coast market fundamentals and a healthy balance sheet.
Essex Property Trust, Inc. (ESS) Q3 2024 Earnings Call Transcript
Essex Property Trust, Inc. (NYSE:ESS ) Q3 2024 Earnings Conference Call October 30, 2024 1:00 PM ET Company Participants Angela Kleiman - President, CEO Barb Pak - EVP, CFO Rylan Burns - EVP, Chief Investment Officer Conference Call Participants Daniel Tricarico - Scotiabank Nick Joseph - Citi Haendel St. Juste - Mizuho Securities Steve Sakwa - Evercore ISI Alexander Goldfarb - Piper Sandler Adam Kramer - Morgan Stanley Jamie Feldman - Wells Fargo Josh Dennerlein - Bank of America John Kim - BMO Capital Markets Linda Tsai - Jefferies John Pawlowski - Green Street Julien Blouin - Goldman Sachs Alex Kim - Zelman & Associates Conor Peaks - Deutsche Bank Angela Kleiman Good morning. Thank you for joining Essex third quarter earnings call.
Essex Property Q3 FFO and Revenues Beat, '24 View Raised
ESS' Q3 core FFO tops estimates. Results reflect higher same-property revenues and net operating income.
Is the Options Market Predicting a Spike in Essex Property Trust (ESS) Stock?
Investors need to pay close attention to Essex Property Trust (ESS) stock based on the movements in the options market lately.
