Essex Property Trust Inc
- 산업
- REITs
- 거래소
- 미국
- 국가 / 지역
- USA
- 상장일
- 1994년 6월 6일
- 직원 수
- 1,686
종합 밸류에이션 구간 · 보수적 $210–$250 / 적정 $255–$310 / 낙관적 $320–$370. $290.68 기준, 적정 내재가치 구간 내.
보고서 발행 시 $272.64（2026년 5월 30일）
데이터 제공: EODHD, 보고 통화 기준 표시. 참고용일 뿐 투자 자문이 아닙니다.
Essex Property Trust, Inc., an S&P 500 company, is a fully integrated real estate investment trust. The firm acquires, develops, redevelops, and manages multifamily residential properties in selected West Coast markets. Essex currently has ownership interests in 259 apartment communities comprising over 63,000 apartment homes with an additional property in active development. Essex Property Trust, Inc. was incorporated in 1971 in Maryland and is based in San Mateo, United States.
연혁
Essex Property Trust, Inc. was incorporated in 1971 in Maryland and is headquartered in San Mateo, United States. It completed its IPO on June 6, 1994 and is a fully integrated real estate investment trust that acquires, develops, redevelops, and manages multifamily residential properties. The company is an S&P 500 member and a Dividend Aristocrat: it raised its annual dividend to $9.80 per share in 2024, marking its 30th consecutive annual increase, raised it again for the 31st time per its 2025 shareholder letter, and in May 2026 declared a new quarterly dividend of $2.59 per share (about $10.36 annualized). The portfolio has grown to ownership interests in 259 apartment communities comprising over 63,000 apartment homes, with an additional property in active development; on a company-share basis it held about 63,642 apartment homes as of 1Q 2026. The company has continued to recycle capital: in 2024 it acquired or increased stakes in 13 apartment communities for roughly $849 million at share and sold one project, and in 2025 it acquired 7 Northern California communities for about $830 million in contract value. On capital returns, it repurchased 740,053 shares for $189.7 million in 2022, while in 2024 it neither issued shares via its ATM program nor repurchased stock. As of the source materials it employed 1,686 people.
업계 내 위치
Essex Property Trust operates as a fully integrated apartment REIT concentrated in selected West Coast markets it describes as supply-constrained: Southern California, the San Francisco Bay Area, and the Seattle metropolitan area. As of 1Q 2026 it reported 55,616 apartment homes on a consolidated basis (63,642 at company share) with an average monthly rent of about $2,756; Northern California contributed roughly 42.1% of actual NOI and Seattle about 17.0%, with most of the remainder from Southern California. Its main competitors are other apartment REITs such as AvalonBay, Equity Residential, UDR, MAA, and Camden; Essex is distinguished by a markedly higher West Coast concentration, giving it greater exposure to both regional supply constraints and regional policy and employment swings. In 2025 its same-property revenue grew 3.3% and same-property NOI grew 3.2%, both leading its multifamily peer group. Its competitive position rests on factual barriers rather than brand or network effects: regulatory and supply constraints in core West Coast markets (California housing shortage, complex permitting, land scarcity), scale and an owned operating platform that uses technology to improve investment returns and efficiency, and regional specialization in capital allocation. The company itself notes it lacks a meaningful brand premium, network effects, and high tenant switching costs.
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