Previous close | 241.41 |
Open | 243.34 |
Bid | 244.37 x 1000 |
Ask | 244.64 x 1000 |
Day's range | 242.45 - 245.62 |
52-week range | 203.85 - 252.85 |
Volume | |
Avg. volume | 419,311 |
Market cap | 16.271B |
Beta (5Y monthly) | 0.81 |
PE ratio (TTM) | 38.74 |
EPS (TTM) | 6.32 |
Earnings date | 25 Apr 2024 - 29 Apr 2024 |
Forward dividend & yield | 9.80 (4.06%) |
Ex-dividend date | 27 Mar 2024 |
1y target est | 243.80 |
Essex Property (ESS) acquires its joint venture partner's 49.9% stake in the BEXAEW portfolio, which comprises four properties and generated an 11.4% IRR.
SAN MATEO, Calif., March 25, 2024--Essex Property Trust, Inc. (NYSE:ESS) announced today that it acquired its joint venture partner’s 49.9% interest in the BEXAEW portfolio for a total purchase price of $505.0 million on a gross basis. The seller’s cap rate is approximately 5.25%; however, after incorporating additional economic benefits by fully integrating this portfolio into our operating platform, we estimate a 5.9% year-one yield. Concurrent with closing, the Company repaid $219.9 million o
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