If you are looking for a trio of reliable dividend stocks, this collection of hard asset stocks offers high yields and growth potential. The real estate investment trust (REIT) sector is known for offering investors a high level of dividend yield. That makes sense, since REITs were specifically designed to pass income on to shareholders via dividends. But if you're looking for the most reliable dividend-paying REITs, you'll want to focus on Federal Realty (FRT -0.27%), Realty Income (O -0.32%), and Essex Pr ...

Shares of Essex Property Trust, Inc. (ESS) have rallied 23.1% in the past six months, outperforming the industry's growth of 16.2%. This residential REIT, which has a robust property base in the West Coast market, is poised to benefit from the healthy demand for its residential units. It is also banking on technology, scale and organizational capabilities to drive growth. Analysts also seem bullish on this Zacks Rank #2 (Buy) stock. The Zacks Consensus Estimate for the company's 2024 FFO per share has been ...

Core Insights - Essex Property Trust, Inc. is well-positioned to benefit from strong demand for residential units in the West Coast market, leveraging technology and organizational capabilities for growth [1][5][8] Financial Performance - In Q2 2024, Essex Property reported core funds from operations (FFO) per share of $3.94, exceeding the Zacks Consensus Estimate of $3.84 and reflecting a 4.5% year-over-year improvement [2] - The Zacks Consensus Estimate for the company's 2024 FFO per share has been revised upward by 0.8% to $15.53, indicating positive analyst sentiment [3] Market Position and Growth Drivers - The company has a strong property base in the West Coast, benefiting from higher median household incomes and a greater percentage of renters [6][7] - The slowing layoffs in the tech industry and the return to office trend are expected to increase renter demand in the West Coast markets [7] Technology and Operational Efficiency - Essex Property is focusing on technology to enhance operational efficiency and reduce costs, which is expected to positively impact both top-line and bottom-line growth [8] Financial Health - As of July 26, 2024, the company had $1.1 billion in liquidity, maintaining a net debt-to-adjusted EBITDAre ratio of 5.4X [9][10] - The company holds investment-grade ratings (Baa1/Stable and BBB+/Stable) and has a trailing 12-month return on equity (ROE) of 9.14%, significantly higher than the industry average of 3.17% [11] Dividend Policy - Essex Property has consistently raised its annual cash dividend, with a 6.1% increase to $2.45 per share announced in February 2024, marking the 30th consecutive annual dividend increase [12][13]

Chalirmpoj Pimpisarn Essex Property Trust Inc. (NYSE:ESS) is a real estate investment trust that owns and operates a portfolio of US West Coast multi-family properties. Founded in 1971, the company is now an $18 billion (by market cap) real estate giant that employs roughly 1,700 people. Essex Property Trust focuses on three different supply-constrained markets across the US West Coast: Southern California, 42% of NOI; Northern California, 40%; and Seattle, 18%. The company's property portfolio consists of ...

Growth stocks are attractive to many investors, as above-average financial growth helps these stocks easily grab the market's attention and produce exceptional returns. But finding a growth stock that can live up to its true potential can be a tough task. By their very nature, these stocks carry above-average risk and volatility. Moreover, if a company's growth story is over or nearing its end, betting on it could lead to significant loss. However, it's pretty easy to find cutting-edge growth stocks with th ...

As these metrics influence top- and bottom-line performance, comparing them to the year-ago numbers and what analysts estimated helps investors project a stock's price performance more accurately. Revenues- Rental and other property While investors scrutinize revenue and earnings changes year-over-year and how they compare with Wall Street expectations to determine their next move, some key metrics always offer a more accurate picture of a company's financial health. Financial Occupancies - Same-Property Po ...

Company Performance - Essex Property Trust reported quarterly funds from operations (FFO) of $3.94 per share, exceeding the Zacks Consensus Estimate of $3.84 per share, and up from $3.77 per share a year ago [1] - The company achieved revenues of $442.36 million for the quarter ended June 2024, surpassing the Zacks Consensus Estimate by 2.10%, compared to $416.04 million in the same quarter last year [6] - The FFO surprise for the quarter was 2.60%, following a previous surprise of 2.41% [5][11] Market Comparison - Essex Property Trust shares have increased approximately 15.4% since the beginning of the year, compared to a 14.5% gain for the S&P 500 [2] - The company has outperformed consensus revenue estimates three times over the last four quarters [6][11] Future Outlook - The current consensus FFO estimate for the upcoming quarter is $3.82 on revenues of $435.96 million, and for the current fiscal year, it is $15.41 on revenues of $1.73 billion [3] - The sustainability of the stock's price movement will depend on management's commentary during the earnings call [7] - The estimate revisions trend for Essex Property Trust is currently favorable, leading to a Zacks Rank 2 (Buy) for the stock, indicating expected outperformance in the near future [12] Industry Context - Essex Property Trust is part of the Zacks REIT and Equity Trust - Residential industry, which is currently ranked in the top 22% of over 250 Zacks industries [4] - Empirical research indicates a strong correlation between near-term stock movements and trends in estimate revisions, suggesting that investors can track these revisions for insights [9]

Exhibit 99.1 Second Quarter 2024 Earnings Release and Supplemental Data | Earnings Press Release | Pages 1 - 9 | | --- | --- | | Consolidated Operating Results | S-1 & S-2 | | Consolidated Funds from Operations | S-3 | | Consolidated Balance Sheets | S-4 | | Debt Summary | S-5 | | Capitalization Data, Public Bond Covenants, Credit Ratings and Selected Credit Ratios | S-6 | | Portfolio Summary by County | S-7 | | Operating Income by Quarter | S-8 | | Same-Property Revenue Results by County, Quarter-to-Date | ...

For the second quarter, we expect same-store property revenue growth of 2.9% and, consequently, net operating However, the struggle to lure renters is expected to have persisted in the second quarter as supply volumes are likely to have remained elevated in some of its markets. Such a competitive landscape limits the company's ability to increase rents and occupancy levels, restricting its growth momentum to some extent. Moreover, outmigration and job losses are expected to affect apartment demand. Essex Pr ...

Core Viewpoint - The article discusses the strong performance and growth potential of Essex Property Trust, Inc. (ESS), highlighting its efficient use of shareholder funds, robust financial position, and favorable market conditions in the West Coast region [2][5][10]. Financial Performance - Essex Property's trailing 12-month return on equity (ROE) stands at 9.22%, significantly higher than the industry average of 2.96%, indicating superior efficiency in utilizing shareholders' funds [2]. - The company has maintained a healthy balance sheet with $1.5 billion in liquidity as of April 29, 2024, through various financial instruments [5]. - The annualized dividend growth rate for Essex Property is 4.34%, supported by a low dividend payout ratio and solid operating platform, suggesting sustainability in dividend payments [11]. Market Position and Growth Drivers - Essex Property has substantial exposure to the West Coast market, benefiting from high median household incomes, a greater percentage of renters, and favorable demographics that drive demand for residential units [7][10]. - The company is leveraging technology and organizational capabilities to enhance operational efficiency and margin expansion, which is expected to positively impact both top-line and bottom-line growth [14]. - The demand for rental units is anticipated to increase due to high homeownership costs and a slow transition from renting to owning, with rental revenues projected to grow by 2.4% and 2.3% year-over-year in 2024 and 2025, respectively [10]. Competitive Landscape - Essex Property's stock has outperformed the industry, with a 9.1% increase over the past three months compared to the industry's 3.5% growth [13]. - The company faces competition from elevated apartment supply in some markets, which may impact pricing power [19]. - Other top-ranked stocks in the REIT sector include Invitation Homes (INVH) and BRT Apartments Corp. (BRT), with BRT Apartments receiving a Zacks Rank 1 (Strong Buy) and Invitation Homes a Zacks Rank 2 [6].