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Stock Market & Financial Investment News

News Breaks
December 21, 2012
12:59 EDTBRE, ESSBRE Properties added to Priority Stock List at Wells Fargo
Wells Fargo believes that BRE (BRE) has received a $72M equity investment from Essex Property Trust (ESS) that could result in a business combination in the future. The firm expects BRE (BRE) to benefit from tech sector job growth on the West Coast and it maintains an Outperform rating on BRE.
News For BRE;ESS From The Last 14 Days
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August 15, 2014
16:02 EDTESSEssex Property Trust acquires two apartment communities for $208.8M
Essex Property Trust announced the company has purchased two apartment communities for purchase prices totaling $208.8M. Apex Apartments, a 366 unit community located in Milpitas, CA, was purchased for $150M. The property was completed and fully stabilized in 2014. Amenities include a saltwater pool and spa, a fitness center, an outdoor entertainment area with multiple fire pits and BBQs, a movie theater, a Wi-Fi lounge and billiards room, and a demonstration kitchen. Apex is located about one mile from high paying jobs in North San Jose and is near a VTA Rail Station and the Milpitas BART station that is under construction. The property is unencumbered. Avalon Bellevue Park Apartments, a 220 unit community located in Bellevue, WA, was acquired for $58.8M. The property was constructed in 1994 and is located in downtown Bellevue, near employers, shopping, dining, and entertainment options. The company has assumed an existing $21.5M loan with an interest rate of 5.5%. The loan matures in June 2019.
August 13, 2014
10:01 EDTESSOn The Fly: Analyst Upgrade Summary
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07:49 EDTESSEssex Property Trust at RBC Capital
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06:38 EDTESSEssex Property Trust upgraded to Outperform from Sector Perform at RBC Capital
August 6, 2014
16:13 EDTESSEssex Property Trust raises 2014 core FFO outlook to $8.31-$8.47
Essex Property Trust is increasing its 2014 Core FFO guidance to $8.31 to $8.47, raising the midpoint by 9c to $8.39 per diluted share. The reason for the increase primarily relates to revised same-property NOI growth.
16:08 EDTESSEssex Property Trust sees Q3 total FFO $2.05-$2.11, consensus $1.96
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16:07 EDTESSEssex Property Trust reports Q2 total FFO $1.72, consensus $1.64
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