Essex Property Trust (ESS) came out with quarterly funds from operations (FFO) of $3.91 per share, beating the Zacks Consensus Estimate of $3.88 per share. This compares to FFO of $3.78 per share a year ago. These figures are adjusted for non-recurring items. This quarterly report represents an FFO surprise of 0.77%. A quarter ago, it was expected that this real estate investment trust would post FFO of $3.84 per share when it actually produced FFO of $3.94, delivering a surprise of 2.60%. Over the last fou ...

财务业绩 - 报告第三季度2024年净收益每股1.84美元，同比增长35.3%[4] - 核心每股FFO为3.91美元，同比增长3.4%，超过公司指引中值0.04美元[4] - 同店收入和净运营收入分别同比增长3.5%和2.6%[4] - 公司第三季度FFO为2.535亿美元,同比增长3.3%,每股FFO为3.81美元[23] - 公司第三季度Core FFO为2.600亿美元,同比增长3.5%,每股Core FFO为3.91美元[23] - 公司第三季度同店NOI增长2.6%[25] - 公司第三季度总NOI为3.139亿美元,同比增长7.3%[25] - 公司第三季度基金来源于营运(FFO)为2.535亿美元，同比增长3.3%[32] - 公司第三季度核心基金来源于营运(Core FFO)为2.600亿美元，同比增长3.4%[32] - 公司第三季度每股基金来源于营运(FFO)为3.81美元，同比增长3.3%[32] - 公司第三季度每股核心基金来源于营运(Core FFO)为3.91美元，同比增长3.4%[32] 资产负债表 - 公司第三季度总资产为126.47亿美元，较2023年年末增加2.3%[35] - 公司第三季度总负债为69.85亿美元，较2023年年末增加3.7%[35] - 公司第三季度总权益为56.28亿美元，较2023年年末增加0.6%[35] - 公司第三季度现金及现金等价物为8.03亿美元，较2023年年末减少79.9%[35] - 公司第三季度持有的上市证券为7.52亿美元，较2023年年末减少14.2%[35] - 公司总债务净额为63.66亿美元，加权平均利率为3.6%，平均到期期限为7.0年[36] - 公司无担保债务净额为54.73亿美元，加权平均利率为3.5%，平均到期期限为7.0年[36] - 公司有担保债务净额为8.85亿美元，加权平均利率为4.2%，平均到期期限为7.1年[36] 财务指标 - 公司债务对总资产比率为34%，低于65%的限制[38] - 公司有担保债务对总资产比率为5%，低于40%的限制[38] - 公司利息覆盖率为547%，高于150%的限制[38] - 公司无担保债务比率为293%，高于150%的限制[38] - 公司净债务与调整后EBITDAre比率为5.5倍[38] - 公司未担保NOI占调整后总NOI的93%[38] - 公司调整后的EBITDA(Adjusted EBITDAre)为331,570千美元[69] - 公司净负债与调整后EBITDA(Adjusted EBITDAre)的比率为5.5[76] - 公司同店物业净运营收入(Same-Property NOI)为287,452千美元[78] - 公司总负债净额为7,272,455千美元[76] - 公司即时可用流动性为12.34亿美元[75] 运营数据 - 公司在南加州、北加州和西雅图地区拥有约6.25万套公寓[39] - 第三季度同店物业财务入住率为96.2%[40] - 第三季度公司整体财务入住率为96.2%,同比下降0.2个百分点[41] - 公司同店物业的总体收益增长3.5%[42] - 公司同店物业的运营开支增长5.0%，其中房地产税、水电费和保险费用增幅较大[43] - 公司在第三季度和过去4个季度内的收益性资本支出分别为1860万美元和5748万美元[45] - 公司在第三季度和过去4个季度内的非收益性资本支出分别为3598万美元和1.352亿美元[45] - 公司在第三季度和过去4个季度内的人均资本支出分别为671美元和2566美元[45] 收购与出售 - 公司在第三季度和第四季度完成了多项收购和出售资产的交易[10][11][12][13] - 公司2024年完成了多项收购，包括BEWAEW组合、Maxwell Sunnyvale、ARLO Mountain View、Patina at Midtown和Century Towers等[56] 未来展望 - 全年2024年指引上调，同店收入增长目标从3.0-3.2%上调至3.1-3.4%[5] - 公司2024年第四季度和全年指引包括净收益、总FFO和核心FFO、同店增长及相关假设[26] - 公司预计2024年全年NOI在1,240,600,000美元至1,247,200,000美元之间[50] - 公司预计2024年全年FFO在1,055,317,000美元至1,063,317,000美元之间[51] - 公司预计2024年全年每股FFO在15.86美元至15.98美元之间[51] - 公司预计2024年全年每股EPS在8.66美元至8.78美元之间[51] - 公司预计2025年同店物业租金收入增长潜力中值为1.4%,其中包括0.9%的内生增长和0.5%的拖欠改善[62][63][64][65][66] - 公司预计2025年同店物业租金收入增长潜力区间为1.2%-1.6%[66] - 公司预计2025年同店物业租金收入增长中值为1.4%,其中包括0.8%-1.0%的内生增长和0.4%-0.6%的拖欠改善[66] 风险因素 - 公司可能面临的风险包括租赁率和租金需求受到竞争和当地经济市场条件的不利影响、可能出现的利率上升、通胀、运营成本上升和可能的经济衰退影响[26] - 公司可能无法维持其与评级机构的投资级信用评级[26] - 公司可能无法成功管理与合作伙伴的关系[26] - 公司可能无法实现其业务目标[26] - 公司可能无法成功运营收购的物业[26] - 公司可能面临来自网络入侵的意外后果[26] - 违反债务契约中的财务指标要求可能导致公司债务加速到期[79] 其他 - 发行2亿美元10年期无担保票据，利率5.1%[5] - 收购位于圣何塞的两个公寓社区，总估值2.905亿美元[10][11] - 公司将于2024年10月30日召开第三季度业绩电话会议[19] - 公司将于2024年11月19日参加NAREIT REITWorld会议[21] - 公司在联营企业和优先股投资的加权平均权益比例为53%，其中Wesco系列、BEXAEW系列和其他联营企业的投资收益分别为8858万美元、3476万美元和2431万美元[47] - 公司在联营企业的加权平均借款成本为4.0%，平均剩余债务期限为9.7年[47] - 公司将"受限"定义为任何抵押、信托契约、留置权、押记、质押、担保权益、担保协议或任何其他形式的产权负担[72] - 公司将EBITDA调整为EBITDAre并进一步调整为Adjusted EBITDAre的定义和用途[68] - 公司债务契约中包含净资产、固定收益比率、债务服务比率等财务指标要求[79] - 无担保NOI与总NOI的比率用于向评级机构和投资者提供额外的公司偿债能力信息[81]

The upcoming report from Essex Property Trust (ESS) is expected to reveal quarterly earnings of $3.88 per share, indicating an increase of 2.7% compared to the year-ago period. Analysts forecast revenues of $445.88 million, representing an increase of 6.4% year over year.Over the past 30 days, the consensus EPS estimate for the quarter has remained unchanged. This demonstrates the covering analysts' collective reassessment of their initial projections during this period.Before a company reveals its earnings ...

Essex Property Trust, Inc. (ESS) is scheduled to report its third-quarter 2024 results on Oct. 29 after market close. The company’s quarterly results are likely to reflect year-over-year growth in revenues and core funds from operations (FFO) per share.Stay up-to-date with all quarterly releases: See Zacks Earnings Calendar.In the last reported quarter, this San Mateo, CA-based residential real estate investment trust (REIT) delivered a surprise of 2.60% in terms of core FFO per share. Results reflected fav ...

Investors might want to bet on Essex Property Trust (ESS) , as it has been recently upgraded to a Zacks Rank #2 (Buy). This upgrade primarily reflects an upward trend in earnings estimates, which is one of the most powerful forces impacting stock prices. The sole determinant of the Zacks rating is a company's changing earnings picture. The Zacks Consensus Estimate -- the consensus of EPS estimates from the sell-side analysts covering the stock -- for the current and following years is tracked by the system. ...

Shares of Essex Property Trust (ESS) have rallied 16.1% year to date, outperforming the industry's upside of 10.5%. A robust property base in the West Coast market with favorable demand drivers will aid Essex Property. Technology initiatives to drive margins and a healthy balance sheet bode well for long-term growth. Analysts seem bullish on this residential REIT carrying a Zacks Rank #3 (Hold), with the Zacks Consensus Estimate for its 2024 FFO per share moving northward over the past month to $15.55. Imag ...

Essex Property Trust (NYSE: ESS ) has had a spectacular one-year performance of more than 40%. After the great financial crisis, ESS experienced a fantastic decade-long ramp-up in its price, during which the REIT added more than 800% in total performance. Of Hey there! My focus here is to provide you with insightful rating analysis on the world's leading financial firms to help you navigate and comprehend the latest investment opportunities while identifying potential pitfalls. My favorite picks are those t ...

These REITs offer attractive yielding payouts that should rise in the future. Investing in real estate can be a great way to generate durable passive income. There are many ways to invest in the sector. One of the smartest ways to start is to buy shares in high-quality real estate investment trusts (REITs). W.P. Carey (WPC -1.57%) and Essex Property Trust (ESS -0.92%) are no-brainer REITs to buy for longlasting passive income. They offer high-yielding payouts that should steadily rise in the future. Buildin ...

Momentum investing is all about the idea of following a stock's recent trend, which can be in either direction. In the 'long' context, investors will essentially be "buying high, but hoping to sell even higher." And for investors following this methodology, taking advantage of trends in a stock's price is key; once a stock establishes a course, it is more than likely to continue moving in that direction. The goal is that once a stock heads down a fixed path, it will lead to timely and profitable trades. Eve ...

If you are looking for a trio of reliable dividend stocks, this collection of hard asset stocks offers high yields and growth potential. The real estate investment trust (REIT) sector is known for offering investors a high level of dividend yield. That makes sense, since REITs were specifically designed to pass income on to shareholders via dividends. But if you're looking for the most reliable dividend-paying REITs, you'll want to focus on Federal Realty (FRT -0.27%), Realty Income (O -0.32%), and Essex Pr ...