Essex Property Trust Inc
NYSE:ESS
Intrinsic Value
Essex Property Trust, Inc. operates as a real estate investment trust. [ Read More ]
The intrinsic value of one ESS stock under the Base Case scenario is 218.06 USD. Compared to the current market price of 245.38 USD, Essex Property Trust Inc is Overvalued by 11%.
Valuation Backtest
Essex Property Trust Inc
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Fundamental Analysis
Essex Property Trust's 2023 Financial Performance and 2024 Outlook
2023-Q4 Earnings Call
In 2023, Essex Property Trust achieved a solid 4.4% same-property revenue growth and reduced delinquency from 2% to 1.4%. Core FFO per share increased by 3.6%, exceeding original guidance. Q4 saw market rents moderate and a strategy focused on recovering delinquent units, with a notable 4.9% renewal rate increase. For 2024, Essex forecasts West Coast job growth to align with the national average, projecting a modest 1.25% market rent growth. Same-property NOI is expected to grow by 60 basis points, while core FFO per share growth is projected to be flat compared to 2023.
Balance Sheet Decomposition
Essex Property Trust Inc
Current Assets | 519.4m |
Cash & Short-Term Investments | 400.3m |
Receivables | 24.8m |
Other Current Assets | 94.3m |
Non-Current Assets | 11.8B |
Long-Term Investments | 1.1B |
PP&E | 10.5B |
Other Non-Current Assets | 158.4m |
Current Liabilities | 417.8m |
Accounts Payable | 175.4m |
Accrued Liabilities | 65.1m |
Other Current Liabilities | 177.4m |
Non-Current Liabilities | 6.5B |
Long-Term Debt | 6.2B |
Other Non-Current Liabilities | 315.1m |
Earnings Waterfall
Essex Property Trust Inc
Revenue
|
1.7B
USD
|
Cost of Revenue
|
-485.5m
USD
|
Gross Profit
|
1.2B
USD
|
Operating Expenses
|
-657.8m
USD
|
Operating Income
|
526.1m
USD
|
Other Expenses
|
-120.3m
USD
|
Net Income
|
405.8m
USD
|
Free Cash Flow Analysis
Essex Property Trust Inc
What is Free Cash Flow?
ESS Profitability Score
Profitability Due Diligence
Essex Property Trust Inc's profitability score is 60/100. The higher the profitability score, the more profitable the company is.
Score
Essex Property Trust Inc's profitability score is 60/100. The higher the profitability score, the more profitable the company is.
ESS Solvency Score
Solvency Due Diligence
Essex Property Trust Inc's solvency score is 32/100. The higher the solvency score, the more solvent the company is.
Score
Essex Property Trust Inc's solvency score is 32/100. The higher the solvency score, the more solvent the company is.
Wall St
Price Targets
ESS Price Targets Summary
Essex Property Trust Inc
According to Wall Street analysts, the average 1-year price target for ESS is 246.61 USD with a low forecast of 204.02 USD and a high forecast of 305.55 USD.
Ownership
ESS Insider Trading
Buy and sell transactions by insiders
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Shareholder Return
ESS Price
Essex Property Trust Inc
Average Annual Return | 1.31% |
Standard Deviation of Annual Returns | 42.48% |
Max Drawdown | -45% |
Market Capitalization | 15.8B USD |
Shares Outstanding | 64 203 500 |
Percentage of Shares Shorted | 3.94% |
Company Profile
Country
Industry
Market Cap
Dividend Yield
Description
Essex Property Trust, Inc. operates as a real estate investment trust. The company is headquartered in San Mateo, California and currently employs 1,757 full-time employees. The firm is engaged primarily in the ownership, operation, management, acquisition, development and redevelopment of predominantly apartment communities, located along the West Coast. Its segments include Southern California, Northern California, Seattle Metro and Other real estate assets. The firm owns all of its interest in its real estate and other investments directly or indirectly through Essex Portfolio, L.P. The firm owns ownership interests in approximately 246 operating apartment communities, aggregating 60,799 apartment homes. Its operating apartment communities are located in Southern California, primarily Los Angeles, Orange, San Diego, and Ventura counties; Northern California, the San Francisco Bay Area; and the Seattle metropolitan areas.
Contact
IPO
Employees
Officers
The intrinsic value of one ESS stock under the Base Case scenario is 218.06 USD.
Compared to the current market price of 245.38 USD, Essex Property Trust Inc is Overvalued by 11%.