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February 20, 2013
18:08 EDTESSEssex Property Trust raises dividend 10%
Essex Property Trust announced its board has approved a 44c per share annualized increase to its regular cash dividend. The Q1 dividend distribution, payable on April 15 to shareholders of record as of March 28 will be $1.21 per share. The declared dividend represents a 10% increase over the company's prior quarterly dividend of $1.10 per share. On an annualized basis, the dividend represents a distribution of $4.84 per common share.
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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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