Intrinsic value of Essex Property Trust - ESS

Previous Close

$236.80

  Intrinsic Value

$16.95

stock screener

  Rating & Target

str. sell

-93%

Previous close

$236.80

 
Intrinsic value

$16.95

 
Up/down potential

-93%

 
Rating

str. sell

Our model is not good at valuating stocks of financial companies, such as ESS.

We calculate the intrinsic value of ESS stock by summing up the current values of future distributable cash flows generated by the company and dividing the sum by the number of outstanding shares. As such, the intrinsic value calculation depends entirely on projections. The more accurate your projections of the company's performance are - the more reliable is the intrinsic value calculation result. Please make sure to check the stock valuation input data below and adjust it if necessary. The quality of the output (intrinsic valuation result) is only as good as the quality of the input. See also DISCLAIMERS.

STOCK VALUATION INPUT DATA

Revenue (in 2017), $M
Initial revenue growth rate, %
Terminal revenue growth rate, %
Revenue decline factor
Initial discount rate, %
Discount rate multiplier
Variable cost ratio, %
Fixed operating expenses, $M
Interest rate on debt, %
Effective corporate tax rate, %
Production assets / Revenue, %
Life of production assets, yrs
Working capital / Revenue, %
Revenue / Adjusted assets
Adjusted equity ratio
Cash flow adjustment, % of Revenue
Book value of equity, $M
Shares outstanding, mln
Market capitalization, $bln 15.6

 

FINANCIAL STATEMENTS FORECAST and PRESENT VALUE CALCULATION

Fiscal year
   2018
   2019
   2020
   2021
   2022
   2023
   2024
   2025
   2026
   2027
   2028
   2029
   2030
   2031
   2032
   2033
   2034
   2035
   2036
   2037
   2038
   2039
   2040
   2041
   2042
   2043
   2044
   2045
   2046
   2047

INCOME STATEMENT

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Revenue growth rate, %
  5.40
  5.36
  5.32
  5.29
  5.26
  5.24
  5.21
  5.19
  5.17
  5.15
  5.14
  5.13
  5.11
  5.10
  5.09
  5.08
  5.07
  5.07
  5.06
  5.05
  5.05
  5.04
  5.04
  5.04
  5.03
  5.03
  5.03
  5.02
  5.02
  5.02
Revenue, $m
  1,438
  1,515
  1,595
  1,680
  1,768
  1,861
  1,958
  2,059
  2,166
  2,278
  2,395
  2,517
  2,646
  2,781
  2,923
  3,071
  3,227
  3,391
  3,562
  3,742
  3,931
  4,129
  4,337
  4,556
  4,785
  5,026
  5,278
  5,543
  5,822
  6,114
Variable operating expenses, $m
  908
  955
  1,005
  1,057
  1,112
  1,169
  1,230
  1,292
  1,358
  1,427
  1,482
  1,558
  1,638
  1,721
  1,809
  1,901
  1,997
  2,098
  2,204
  2,316
  2,433
  2,556
  2,684
  2,819
  2,961
  3,110
  3,267
  3,431
  3,603
  3,784
Fixed operating expenses, $m
  57
  58
  60
  61
  62
  64
  65
  67
  68
  70
  71
  73
  74
  76
  78
  79
  81
  83
  85
  87
  88
  90
  92
  94
  96
  99
  101
  103
  105
  108
Total operating expenses, $m
  965
  1,013
  1,065
  1,118
  1,174
  1,233
  1,295
  1,359
  1,426
  1,497
  1,553
  1,631
  1,712
  1,797
  1,887
  1,980
  2,078
  2,181
  2,289
  2,403
  2,521
  2,646
  2,776
  2,913
  3,057
  3,209
  3,368
  3,534
  3,708
  3,892
Operating income, $m
  473
  501
  530
  561
  594
  627
  663
  700
  739
  781
  841
  887
  934
  984
  1,036
  1,091
  1,149
  1,209
  1,273
  1,340
  1,410
  1,483
  1,561
  1,642
  1,727
  1,817
  1,911
  2,010
  2,114
  2,223
EBITDA, $m
  1,812
  1,911
  2,014
  2,123
  2,236
  2,355
  2,480
  2,611
  2,748
  2,891
  3,042
  3,200
  3,366
  3,539
  3,722
  3,913
  4,114
  4,325
  4,546
  4,778
  5,022
  5,278
  5,546
  5,828
  6,124
  6,435
  6,761
  7,104
  7,463
  7,841
Interest expense (income), $m
  204
  229
  229
  230
  230
  230
  230
  230
  231
  231
  231
  231
  232
  232
  232
  232
  233
  233
  233
  234
  234
  235
  235
  235
  236
  236
  237
  237
  238
  239
  239
Earnings before tax, $m
  244
  272
  301
  331
  364
  397
  433
  470
  509
  549
  610
  655
  702
  752
  804
  858
  916
  976
  1,039
  1,105
  1,175
  1,248
  1,325
  1,406
  1,491
  1,580
  1,673
  1,772
  1,875
  1,983
Tax expense, $m
  66
  73
  81
  89
  98
  107
  117
  127
  137
  148
  165
  177
  190
  203
  217
  232
  247
  264
  281
  298
  317
  337
  358
  380
  403
  427
  452
  478
  506
  535
Net income, $m
  178
  198
  220
  242
  265
  290
  316
  343
  371
  401
  445
  478
  513
  549
  587
  627
  669
  712
  759
  807
  858
  911
  967
  1,026
  1,088
  1,153
  1,222
  1,293
  1,369
  1,448

BALANCE SHEET

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Cash and short-term investments, $m
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
Total assets, $m
  -879
  -926
  -975
  -1,027
  -1,081
  -1,137
  -1,197
  -1,259
  -1,324
  -1,392
  -1,464
  -1,539
  -1,617
  -1,700
  -1,786
  -1,877
  -1,973
  -2,072
  -2,177
  -2,287
  -2,403
  -2,524
  -2,651
  -2,785
  -2,925
  -3,072
  -3,226
  -3,388
  -3,559
  -3,737
Adjusted assets (=assets-cash), $m
  -879
  -926
  -975
  -1,027
  -1,081
  -1,137
  -1,197
  -1,259
  -1,324
  -1,392
  -1,464
  -1,539
  -1,617
  -1,700
  -1,786
  -1,877
  -1,973
  -2,072
  -2,177
  -2,287
  -2,403
  -2,524
  -2,651
  -2,785
  -2,925
  -3,072
  -3,226
  -3,388
  -3,559
  -3,737
Revenue / Adjusted assets
  -1.636
  -1.636
  -1.636
  -1.636
  -1.636
  -1.637
  -1.636
  -1.635
  -1.636
  -1.636
  -1.636
  -1.635
  -1.636
  -1.636
  -1.637
  -1.636
  -1.636
  -1.637
  -1.636
  -1.636
  -1.636
  -1.636
  -1.636
  -1.636
  -1.636
  -1.636
  -1.636
  -1.636
  -1.636
  -1.636
Average production assets, $m
  13,211
  13,919
  14,660
  15,435
  16,248
  17,099
  17,990
  18,924
  19,902
  20,928
  22,004
  23,132
  24,315
  25,555
  26,856
  28,221
  29,653
  31,156
  32,732
  34,386
  36,122
  37,944
  39,856
  41,863
  43,970
  46,181
  48,502
  50,938
  53,496
  56,181
Working capital, $m
  -6,388
  -6,730
  -7,088
  -7,463
  -7,856
  -8,267
  -8,698
  -9,150
  -9,623
  -10,119
  -10,639
  -11,185
  -11,756
  -12,356
  -12,985
  -13,645
  -14,338
  -15,064
  -15,826
  -16,626
  -17,466
  -18,347
  -19,271
  -20,241
  -21,260
  -22,329
  -23,451
  -24,629
  -25,866
  -27,164
Total debt, $m
  1,365
  1,366
  1,367
  1,369
  1,370
  1,371
  1,372
  1,374
  1,375
  1,377
  1,378
  1,380
  1,382
  1,383
  1,385
  1,387
  1,389
  1,392
  1,394
  1,396
  1,399
  1,402
  1,404
  1,407
  1,410
  1,414
  1,417
  1,421
  1,424
  1,428
Total liabilities, $m
  19
  20
  21
  23
  24
  25
  26
  28
  29
  31
  32
  34
  36
  37
  39
  41
  43
  46
  48
  50
  53
  56
  58
  61
  64
  68
  71
  75
  78
  82
Total equity, $m
  -898
  -946
  -997
  -1,049
  -1,105
  -1,162
  -1,223
  -1,286
  -1,353
  -1,423
  -1,496
  -1,573
  -1,653
  -1,737
  -1,826
  -1,919
  -2,016
  -2,118
  -2,225
  -2,338
  -2,456
  -2,580
  -2,710
  -2,846
  -2,989
  -3,140
  -3,297
  -3,463
  -3,637
  -3,819
Total liabilities and equity, $m
  -879
  -926
  -976
  -1,026
  -1,081
  -1,137
  -1,197
  -1,258
  -1,324
  -1,392
  -1,464
  -1,539
  -1,617
  -1,700
  -1,787
  -1,878
  -1,973
  -2,072
  -2,177
  -2,288
  -2,403
  -2,524
  -2,652
  -2,785
  -2,925
  -3,072
  -3,226
  -3,388
  -3,559
  -3,737
Debt-to-equity ratio
  0.000
  0.000
  0.000
  0.000
  0.000
  0.000
  0.000
  0.000
  0.000
  0.000
  0.000
  0.000
  0.000
  0.000
  0.000
  0.000
  0.000
  0.000
  0.000
  0.000
  0.000
  0.000
  0.000
  0.000
  0.000
  0.000
  0.000
  0.000
  0.000
  0.000
Adjusted equity ratio
  1.022
  1.022
  1.022
  1.022
  1.022
  1.022
  1.022
  1.022
  1.022
  1.022
  1.022
  1.022
  1.022
  1.022
  1.022
  1.022
  1.022
  1.022
  1.022
  1.022
  1.022
  1.022
  1.022
  1.022
  1.022
  1.022
  1.022
  1.022
  1.022
  1.022

CASH FLOW

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Net income, $m
  178
  198
  220
  242
  265
  290
  316
  343
  371
  401
  445
  478
  513
  549
  587
  627
  669
  712
  759
  807
  858
  911
  967
  1,026
  1,088
  1,153
  1,222
  1,293
  1,369
  1,448
Depreciation, amort., depletion, $m
  1,339
  1,410
  1,484
  1,561
  1,643
  1,728
  1,817
  1,910
  2,008
  2,111
  2,200
  2,313
  2,431
  2,556
  2,686
  2,822
  2,965
  3,116
  3,273
  3,439
  3,612
  3,794
  3,986
  4,186
  4,397
  4,618
  4,850
  5,094
  5,350
  5,618
Funds from operations, $m
  1,517
  1,608
  1,703
  1,803
  1,908
  2,018
  2,133
  2,253
  2,379
  2,512
  2,646
  2,791
  2,944
  3,104
  3,272
  3,449
  3,634
  3,828
  4,032
  4,246
  4,470
  4,706
  4,953
  5,213
  5,485
  5,771
  6,072
  6,387
  6,718
  7,066
Change in working capital, $m
  -327
  -342
  -358
  -375
  -393
  -411
  -431
  -452
  -473
  -496
  -520
  -545
  -572
  -600
  -629
  -660
  -692
  -726
  -762
  -800
  -839
  -881
  -925
  -970
  -1,019
  -1,069
  -1,122
  -1,178
  -1,237
  -1,298
Cash from operations, $m
  1,844
  1,950
  2,062
  2,179
  2,301
  2,429
  2,564
  2,705
  2,853
  3,008
  3,166
  3,337
  3,516
  3,704
  3,902
  4,109
  4,326
  4,554
  4,794
  5,046
  5,310
  5,587
  5,878
  6,183
  6,504
  6,841
  7,194
  7,565
  7,955
  8,364
Maintenance CAPEX, $m
  -1,253
  -1,321
  -1,392
  -1,466
  -1,544
  -1,625
  -1,710
  -1,799
  -1,892
  -1,990
  -2,093
  -2,200
  -2,313
  -2,431
  -2,556
  -2,686
  -2,822
  -2,965
  -3,116
  -3,273
  -3,439
  -3,612
  -3,794
  -3,986
  -4,186
  -4,397
  -4,618
  -4,850
  -5,094
  -5,350
New CAPEX, $m
  -677
  -708
  -741
  -776
  -812
  -851
  -891
  -934
  -979
  -1,026
  -1,076
  -1,128
  -1,183
  -1,240
  -1,301
  -1,365
  -1,432
  -1,502
  -1,576
  -1,654
  -1,736
  -1,822
  -1,912
  -2,007
  -2,107
  -2,211
  -2,321
  -2,436
  -2,558
  -2,685
Cash from investing activities, $m
  -1,930
  -2,029
  -2,133
  -2,242
  -2,356
  -2,476
  -2,601
  -2,733
  -2,871
  -3,016
  -3,169
  -3,328
  -3,496
  -3,671
  -3,857
  -4,051
  -4,254
  -4,467
  -4,692
  -4,927
  -5,175
  -5,434
  -5,706
  -5,993
  -6,293
  -6,608
  -6,939
  -7,286
  -7,652
  -8,035
Free cash flow, $m
  -87
  -79
  -71
  -63
  -55
  -46
  -37
  -28
  -18
  -8
  -3
  9
  20
  32
  45
  58
  72
  87
  102
  118
  135
  153
  171
  191
  211
  232
  255
  279
  303
  330
Issuance/(repayment) of debt, $m
  1
  1
  1
  1
  1
  1
  1
  1
  1
  2
  2
  2
  2
  2
  2
  2
  2
  2
  2
  2
  3
  3
  3
  3
  3
  3
  3
  4
  4
  4
Issuance/(repurchase) of shares, $m
  -46
  -48
  -50
  -53
  -55
  -58
  -61
  -63
  -67
  -70
  -73
  -77
  -80
  -84
  -88
  -93
  -97
  -102
  -107
  -112
  -118
  -124
  -130
  -136
  -143
  -150
  -158
  -166
  -174
  -183
Cash from financing (excl. dividends), $m  
  -45
  -47
  -49
  -52
  -54
  -57
  -60
  -62
  -66
  -68
  -71
  -75
  -78
  -82
  -86
  -91
  -95
  -100
  -105
  -110
  -115
  -121
  -127
  -133
  -140
  -147
  -155
  -162
  -170
  -179
Total cash flow (excl. dividends), $m
  -132
  -126
  -120
  -115
  -109
  -103
  -97
  -90
  -84
  -77
  -74
  -66
  -59
  -50
  -42
  -33
  -23
  -13
  -3
  8
  19
  31
  44
  57
  71
  85
  101
  117
  133
  151
Retained Cash Flow (-), $m
  46
  48
  50
  53
  55
  58
  61
  63
  67
  70
  73
  77
  80
  84
  88
  93
  97
  102
  107
  112
  118
  124
  130
  136
  143
  150
  158
  166
  174
  183
Prev. year cash balance distribution, $m
  852
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
Cash flow adjustment, $m
  10
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  25
  26
  28
  29
  30
  32
  33
  35
  37
  39
  41
Cash available for distribution, $m
  766
  48
  50
  53
  55
  58
  61
  63
  67
  70
  73
  77
  80
  84
  88
  93
  97
  102
  107
  120
  137
  155
  174
  193
  214
  236
  258
  282
  307
  334
Discount rate, %
  7.70
  8.09
  8.49
  8.91
  9.36
  9.83
  10.32
  10.83
  11.38
  11.95
  12.54
  13.17
  13.83
  14.52
  15.25
  16.01
  16.81
  17.65
  18.53
  19.46
  20.43
  21.45
  22.52
  23.65
  24.83
  26.07
  27.38
  28.75
  30.18
  31.69
PV of cash for distribution, $m
  712
  41
  39
  37
  35
  33
  30
  28
  25
  23
  20
  17
  15
  13
  11
  9
  7
  5
  4
  3
  3
  2
  2
  1
  1
  1
  0
  0
  0
  0
Current shareholders' claim on cash, %
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0

Essex Property Trust, Inc. is a self-administered and self-managed real estate investment trust. The Company 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 Company owns all of its interest in its real estate and other investments directly or indirectly through Essex Portfolio, L.P. (the Operating Partnership). Its properties include Mio, Form 15, Emerson Valley Village and Ashton Sherman Village. As of December 31, 2016, it owned or held an interest in 245 communities, aggregating 59,645 apartment homes, excluding its ownership in preferred equity investments, as well as two operating commercial buildings (totaling approximately 140,564 square feet), and six active development projects with 2,223 apartment homes in various stages of development.

FINANCIAL RATIOS  of  Essex Property Trust (ESS)

Valuation Ratios
P/E Ratio 37.4
Price to Sales 12
Price to Book 2.5
Price to Tangible Book
Price to Cash Flow 21.8
Price to Free Cash Flow 87.7
Growth Rates
Sales Growth Rate 8.4%
Sales - 3 Yr. Growth Rate %
EPS Growth Rate %
EPS - 3 Yr. Growth Rate %
Capital Spending Gr. Rate -35.4%
Cap. Spend. - 3 Yr. Gr. Rate 2.6%
Financial Strength
Quick Ratio NaN
Current Ratio NaN
LT Debt to Equity 89.8%
Total Debt to Equity 89.8%
Interest Coverage 3
Management Effectiveness
Return On Assets 5.1%
Ret/ On Assets - 3 Yr. Avg. 3.9%
Return On Total Capital 3.6%
Ret/ On T. Cap. - 3 Yr. Avg. 2.4%
Return On Equity 6.7%
Return On Equity - 3 Yr. Avg. 4.5%
Asset Turnover 0.1
Profitability Ratios
Gross Margin 69.9%
Gross Margin - 3 Yr. Avg. 69.1%
EBITDA Margin 84.2%
EBITDA Margin - 3 Yr. Avg. 74.2%
Operating Margin 32.5%
Oper. Margin - 3 Yr. Avg. 26.8%
Pre-Tax Margin 34.2%
Pre-Tax Margin - 3 Yr. Avg. 22.9%
Net Profit Margin 32.1%
Net Profit Margin - 3 Yr. Avg. 21.4%
Effective Tax Rate 1.1%
Eff/ Tax Rate - 3 Yr. Avg. 0.4%
Payout Ratio 99%

ESS stock valuation input parameters

Revenue. Company's revenue (or sales) is always the starting point of any cash flow forecast. In the ESS stock intrinsic value calculation we used $1364 million for the last fiscal year's total revenue generated by Essex Property Trust. The default revenue input number comes from 2017 income statement of Essex Property Trust. You may change it if you feel that it should be adjusted for some unusual circumstances that are not expected to be repeated in the future or if you already know (from interim financial statements, for example) that this year's revenue is going to be quite different.

Revenue growth rate. Forecasted future revenue growth rate is the most important input parameter for the intrinsic value calculation. Unlike other input parameters that are reasonably expected to be in line with their historic averages or their historic trends, the revenue growth rate by and large is a wild card: nobody really knows what the company's revenue will be in the future. Of course, the level of unpredictability is different for different industries (utility companies being the most predictable and, thus, less risky).
    We use three input parameters to forecast the revenue growth rate in our ESS stock valuation model: a) initial revenue growth rate of 5.4% whose default value is the revenue growth rate in the most recent quarter compared to the quarterly revenue a year ago; b) terminal revenue growth rate of 5% whose default value is chosen to be close to the average nominal (i.e. not adjusted for inflation) GDP growth rate; and c) revenue decline factor of 0.9, which stipulates that revenue growth rate in each forecasted year will be equal to the difference of the revenue growth rate in the preceding year and the terminal revenue growth rate multiplied by this revenue decline factor (with the passage of time the revenue growth rate will be approaching the terminal revenue growth rate, but not quite reaching it - though the difference could be infinitesimally small).
    At the revenue decline factor of 1, the future revenue growth rate is forecasted to be constant and equal to the initial revenue growth rate. The smaller the revenue decline factor, the faster the revenue growth rate will approach the terminal revenue growth.

Discount rate. The discount rate is used for determining the present value of future cash flows: future cash flows are "discounted" as at normal conditions (that translate into positive expected return on investment) one dollar today is worth more than the same dollar in the future. Unlike all other valuation models, we use variable discount rate, i.e. it increases for each consecutive year. This is done to account for higher risk of cash flows coming in further in the future.
    The initial discount rate of 7.7%, whose default value for ESS is calculated based on our internal credit rating of Essex Property Trust, is applied to the cash flow expected to be received a year from now (well, actually, to be precise, in the financial year following the base year - the last year for which we have financial statements). For each consecutive year the discount rate is multiplied by the discount rate multiplier of 1.05, e.i. each year it increases by 5%. Feel free to change this number to correspond to your level of risk assessment of Essex Property Trust.
    By the way, it is easy to set the discount rate to be constant (this would make comparison with other valuation models easier): just set the discount rate multiplier equal to 1 and chose the magnitude of the initial discount rate to your liking.

Variable cost ratio is the ratio of variable costs (i.e. costs that fluctuate with fluctuation of the volume of production) to the revenue expressed as a percentage. In the calculation of intrinsic value of ESS stock the variable cost ratio is equal to 63.2%.

Fixed operating expenses is just that - expenses that are not dependant on the volume of production. They are set to $56 million in the base year in the intrinsic value calculation for ESS stock. These expenses increase with the level of inflation in subsequent years.

Interest rate on debt is the average all-in rate of interest paid by the company on its debt. It is set at 16.8% for Essex Property Trust.

Corporate tax rate of 27% is the nominal tax rate for Essex Property Trust. In reality, companies find ways to pay much less taxes than that or not to pay them at all.

Cash flow adjustment could be used for any adjustment the investor deems necessary. Most commonly we use this field to account for stock options-related effects in excess of what is reported on the company's income statement. The cash flow adjustment is expressed as a percentage of the revenue, and in the current valuation of the ESS stock is equal to 0.7%.

Production assets are the company's assets used for manufacturing products or provision of services. In the valuation model input table they are expressed as a percentage of revenue and for ESS are equal to 918.9%.

Life of production assets of 10 years is the average useful life of capital assets used in Essex Property Trust operations. It is used to calculate yearly capital expenditures needed to keep these assets in good order - we call it the maintenance CAPEX.

Working capital is the difference between the company's current assets and liabilities. In the model we use the ratio of working capital to revenue, which for ESS is equal to -444.3%. A negative number means that the company is apt at using financial resources of its suppliers and customers; a large positive number, on the other hand, means that it either provides in-kind financing to others or is not good at managing its inventories.

Book value of equity - $0 million for Essex Property Trust - is used in calculation of the "floor" for intrinsic valuation based on the discounted cash flow (DCF) method. Even if the prospects are very bad for a company, its assets could always be sold now for their current fair market value.

Shares outstanding of 66 million for Essex Property Trust is needed to calculate the intrinsic value of one share.

Market capitalization is used here only for reference purposes and as a quick check that the share price and the number of shares outstanding numbers are correct - something especially to be cognizant about at stock splits. So, the market capitalization of Essex Property Trust at the current share price and the inputted number of shares is $15.6 billion.

RELATED COMPANIES Price Int.Val. Rating
AIV Apartment Inve 43.30 152.16  str.buy
EQR Equity Residen 66.60 1.44  str.sell
UDR UDR 39.00 9.91  str.sell
CPT Camden Propert 93.39 136.27  str.buy
MAA Mid-America Ap 101.15 1,195.37  str.buy
ACC American Campu 41.24 56.36  buy

COMPANY NEWS

▶ San Mateo fights over heights   [Aug-06-18 05:25PM  American City Business Journals]
▶ Essex Property Trust, Inc. to Host Earnings Call   [Aug-02-18 10:00AM  ACCESSWIRE]
▶ Essex Property Trust: 2Q Earnings Snapshot   [05:02PM  Associated Press]
▶ Essex Announces Second Quarter 2018 Results   [04:15PM  Business Wire]
▶ How To Buy Dividend Aristocrats Before The Crowd   [May-28-18 09:23AM  Forbes]
▶ Essex Property Trust Declares Quarterly Distributions   [May-21-18 04:15PM  Business Wire]
▶ Essex Property Trust: 1Q Earnings Snapshot   [May-02-18 04:57PM  Associated Press]
▶ Essex Announces First Quarter 2018 Results   [04:15PM  Business Wire]
▶ Stock Markets Worldwide in Deep Red Friday   [Feb-09-18 04:03PM  GuruFocus.com]
▶ Essex Property Trust, Inc. to Host Earnings Call   [Feb-08-18 09:30AM  ACCESSWIRE]
▶ Essex Property Trust reports 4Q results   [Feb-07-18 04:49PM  Associated Press]
▶ Essex Reports Characteristics of 2017 Dividends   [Jan-17-18 04:15PM  Business Wire]
▶ How To Profit From The New Fed Chair   [Jan-11-18 08:23AM  Forbes]
▶ What Do Wall Street Analysts Think of Equity Residential?   [Jan-10-18 09:02AM  Market Realist]
▶ How Does Equity Residentials Balance Sheet Look?   [Jan-09-18 10:34AM  Market Realist]
▶ Essex Property Trust Declares Quarterly Distributions   [Dec-13-17 04:15PM  Business Wire]
▶ 3 REITs About To Surge On Retiring Boomers   [Dec-05-17 08:23AM  Forbes]
▶ NYSE Top Real Estate Dividend Paying Stocks   [Nov-06-17 10:02AM  Simply Wall St.]
▶ Essex Property Trust, Inc. to Host Earnings Call   [Nov-02-17 10:10AM  ACCESSWIRE]
▶ Essex Property Trust reports 3Q results   [Nov-01-17 04:43PM  Associated Press]
▶ Essex Announces Third Quarter 2017 Results   [04:15PM  Business Wire]
▶ [$$] Three REITs Worth an Upgrade   [Sep-26-17 02:56PM  Barrons.com]
▶ Essex Property Trust Declares Quarterly Distributions   [Sep-19-17 05:14PM  Business Wire]
Follow us on:   twitter   twitter   twitter   twitter

ASSET ALLOCATION

About X-FIN       Site news       Privacy policy       Terms of use       FAQ

Copyright © X-FIN.com 2005-2018. All rigths reserved.