Essex Property Trust, Inc. ESS
Essex Property Trust, Inc., a prominent S&P 500 constituent, operates as a vertically integrated real estate investment trust (REIT). The company focuses on the purchase, construction, renovation, and ongoing management of residential apartment complexes across select West Coast regions. Currently, Essex maintains ownership interests in 246 apartment communities, offering a total of roughly 60,000 homes, with an additional six properties actively advancing through various stages of development.
Business overview written from the company's own Form 10-K (Item 1), filed 2026-02-20 — refreshed whenever it files a new one. The figures above are current; see its SEC filings. ✓ From the 10-K
Plain-English: the Snapshot is the quick read — what it pays you (yield, dividend), how its cash flow looks (FFO/AFFO, Price/OCF) and how much debt it carries. Switch to Expert in the header to hide these explanations.
Snapshot
Reported FFO / Core FFO / leverage are from the Q1 2026 earnings release (filed 2026-04-28) — 8-K, EX-99.1 ✓ Verified to filing.
Yield uses the latest declared dividend, annualized (latest regular payout × frequency; special/liquidating distributions excluded) — an announced-but-not-yet-declared change isn't reflected until it has an ex-date. FFO, AFFO and Net debt / Adj. EBITDA are the company's reported figures from its latest earnings 8-K. Price/OCF and payout use GAAP operating cash flow. NAV premium and credit ratings have no free source yet. See Methodology.
$10,000 invested
Illustrative income only, at today's price and latest declared dividend — it excludes price changes, dividend cuts and taxes. Not a forecast.
Model ESS yourself — any amount, shares, per-payment & a multi-year DRIP projection →
Balance sheet (latest FY: 2025)
Debt-maturity ladder, fixed/floating split, secured/unsecured and coverage ratios come from the supplemental — not yet ingested.
Financial history
| FY | Revenue | Net income | D&A | EBITDA | Op. cash flow |
|---|---|---|---|---|---|
| 2025 | $1.90B | $672.49M | $607.54M | $1.56B | $1.07B |
| 2024 | $1.77B | $741.52M | $580.22M | $1.63B | $1.07B |
| 2023 | $1.67B | $405.82M | $548.44M | $1.19B | $980.06M |
| 2022 | $1.61B | $408.31M | $539.32M | $1.20B | $975.65M |
| 2021 | $1.44B | $488.55M | $520.07M | $1.50B | $905.26M |
| 2020 | $1.50B | $568.87M | $525.50M | $1.61B | $803.11M |
Dividends
Recent regular dividends per share (special distributions excluded), oldest → newest.
| Ex-date | Record | Payment | Declared | Amount | Freq. |
|---|---|---|---|---|---|
| 2026-06-30 | 2026-06-30 | 2026-07-15 | 2026-05-14 | $2.59 | Quarterly |
| 2026-03-31 | 2026-03-31 | 2026-04-15 | 2026-02-19 | $2.59 | Irregular |
| 2026-01-02 | 2026-01-02 | 2026-01-15 | 2025-12-05 | $2.57 | Quarterly |
| 2025-09-30 | 2025-09-30 | 2025-10-15 | 2025-09-04 | $2.57 | Quarterly |
| 2025-06-30 | 2025-06-30 | 2025-07-15 | 2025-05-15 | $2.57 | Quarterly |
| 2025-03-31 | 2025-03-31 | 2025-04-15 | 2025-02-20 | $2.57 | Irregular |
| 2025-01-02 | 2025-01-02 | 2025-01-15 | 2024-12-06 | $2.45 | Quarterly |
| 2024-09-30 | 2024-09-30 | 2024-10-11 | 2024-09-05 | $2.45 | Quarterly |
| 2024-06-28 | 2024-06-28 | 2024-07-12 | 2024-05-15 | $2.45 | Quarterly |
| 2024-03-27 | 2024-03-29 | 2024-04-12 | 2024-02-22 | $2.45 | Quarterly |
| 2023-12-29 | 2024-01-02 | 2024-01-12 | 2023-12-08 | $2.31 | Quarterly |
| 2023-09-28 | 2023-09-29 | 2023-10-13 | 2023-09-07 | $2.31 | Quarterly |
| 2023-06-29 | 2023-06-30 | 2023-07-14 | 2023-05-12 | $2.31 | Quarterly |
| 2023-03-30 | 2023-03-31 | 2023-04-14 | 2023-02-23 | $2.31 | Quarterly |
| 2022-12-30 | 2023-01-03 | 2023-01-13 | 2022-12-09 | $2.20 | Quarterly |
| 2022-09-29 | 2022-09-30 | 2022-10-14 | 2022-09-15 | $2.20 | Quarterly |
| 2022-06-29 | 2022-06-30 | 2022-07-15 | 2022-05-11 | $2.20 | Quarterly |
| 2022-03-30 | 2022-03-31 | 2022-04-14 | 2022-02-24 | $2.20 | Quarterly |
| 2021-12-31 | 2022-01-03 | 2022-01-14 | 2021-12-10 | $2.09 | Quarterly |
| 2021-09-29 | 2021-09-30 | 2021-10-15 | 2021-09-10 | $2.09 | Quarterly |
| 2021-06-29 | 2021-06-30 | 2021-07-15 | 2021-05-12 | $2.09 | Quarterly |
| 2021-03-30 | 2021-03-31 | 2021-04-15 | 2021-02-18 | $2.09 | Quarterly |
| 2020-12-31 | 2021-01-04 | 2021-01-15 | 2020-12-08 | $2.08 | Quarterly |
| 2020-09-29 | 2020-09-30 | 2020-10-15 | 2020-09-02 | $2.08 | Quarterly |
Coverage (payout of operating cash flow): 62.15%. Tax-character split (ordinary / 199A / capital gain / return of capital) — not disclosed (requires the annual allocation release).
Recent news — ESS
Essex Property Trust Declares Quarterly Distributions
Canada Pension Plan Investment Board Purchases Shares of 16,900 Essex Property Trust, Inc. $ESS
Connor Clark & Lunn Investment Management Ltd. Purchases New Position in Essex Property Trust, Inc. $ESS
Why Is Essex Property Trust (ESS) Down 0.4% Since Last Earnings Report?
Zacks Industry Outlook Essex Property, Equity LifeStyle and American Homes
Bank of Nova Scotia Invests $3.15 Million in Essex Property Trust, Inc. $ESS
3 Residential REITs Worth Considering as the Industry Recovers
Essex Property Trust (NYSE:ESS) versus BSR Real Estate Investment Trust (OTCMKTS:BSRTF) Head-To-Head Contrast
Headlines via Financial Modeling Prep; links open the original publisher in a new tab. Not an endorsement or investment advice.
Other Residential REITs
Same-store NOI, occupancy, leasing/WALT, top tenants, external-manager fees, development pipeline and (for non-traded vehicles) share-class fees, redemption/gating and NAV methodology are planned modules sourced from supplementals and prospectuses.