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Essex Property Trust (DE:EXP)
:EXP
Earnings Data
Report Date
Jul 24, 2025TBA Not Confirmed
Period Ending
2025 (Q2)Consensus EPS Forecast
1.36Last Year’s EPS
1.29Same Quarter Last Year
Moderate Buy
Based on 15 Analysts Ratings
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Earnings Call Summary
Earnings Call Date:Apr 29, 2025
|% Change Since: 6.70%
|Next Earnings Date:Jul 24, 2025
Earnings Call Sentiment|Neutral
The earnings call reflects a cautiously optimistic outlook. While the company reported strong first-quarter performance with improvements in key metrics such as FFO per share, delinquency rates, and lease rates, macroeconomic uncertainties and regional challenges, particularly in Southern California, tempered the potential for upward guidance revision.Company Guidance
In the Essex Property Trust First Quarter 2025 earnings call, the company provided guidance that reflects a cautious yet optimistic approach to future performance. Despite exceeding the midpoint of their guidance range for core FFO per share by $0.05, Essex chose not to revise their full-year guidance upwards due to macroeconomic uncertainties, such as global trade policies and potential impacts on business investment and job growth. The company reported a 2.8% blended net effective rent growth for the quarter and highlighted a significant improvement in delinquency rates, particularly in Los Angeles, where it decreased to 1.3% of scheduled rent. Essex's strategic reallocation from Southern to Northern California markets resulted in $345 million in acquisitions. The company expects modest rent growth in its supply-constrained markets, with new housing supply in 2025 being exceptionally low at 50 basis points. Essex remains focused on maximizing revenues and generating long-term accretion, with a strong balance sheet and over $1 billion in available liquidity supporting their investment strategy.Core FFO Per Share Exceeds Guidance
First quarter core FFO per share exceeded the midpoint of Essex Property Trust's guidance range by $0.05, driven by better-than-expected performance in the consolidated portfolio, joint venture properties, and lower interest expenses.
Significant Acquisitions in Northern California
Essex Property Trust completed $345 million in acquisitions in Northern California, funded by dispositions in Southern California, to optimize their operating platform and generate above-market returns.
Improvement in Delinquency Rates
Delinquency rates improved significantly, especially in Los Angeles, where it decreased to 1.3% of scheduled rent, compared to 3.9% for the same period last year.
Low Turnover Rate Achieved
The company reported a notably low turnover rate of 35% while achieving positive new lease rate growth and stable occupancy levels.
Positive New Lease Rates Across Regions
New lease rates turned positive in all three major regions, led by Northern California at 1.5%, Seattle at 1.3%, and Southern California at 0.2%.
Refinancing of 2025 Debt Maturities
The company successfully refinanced the majority of its 2025 debt maturities with an unsecured bond offering, strengthening its balance sheet.
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DE:EXP Earnings History
The table shows recent earnings report dates and whether the forecast was beat or missed. See the change in forecast and EPS from the previous year.
Beat
Missed
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DE:EXP Earnings-Related Price Changes
Report Date | Price 1 Day Before | Price 1 Day After | Percentage Change |
|---|---|---|---|
Apr 29, 2025 | €241.90 | €245.20 | +1.36% |
Feb 04, 2025 | €273.77 | €281.60 | +2.86% |
Oct 29, 2024 | €269.68 | €265.35 | -1.60% |
Jul 30, 2024 | €251.73 | €250.37 | -0.54% |
Earnings announcements can affect a stock’s price. This table shows the stock's price the day before and the day after recent earnings reports, including the percentage change.
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FAQ
When does Essex Property Trust (DE:EXP) report earnings?
Essex Property Trust (DE:EXP) is schdueled to report earning on Jul 24, 2025, TBA Not Confirmed.
What is Essex Property Trust (DE:EXP) earnings time?
Essex Property Trust (DE:EXP) earnings time is at Jul 24, 2025, TBA Not Confirmed.
Where can I see when companies are reporting earnings?
You can see which companies are reporting today on our designated earnings calendar.
What companies are reporting earnings today?
You can see a list of the companies which are reporting today on TipRanks earnings calendar.
What is the P/E ratio of Essex Property Trust stock?
The P/E ratio of Essex Property is N/A.
What is DE:EXP EPS forecast?
DE:EXP EPS forecast for the fiscal quarter 2025 (Q2) is 1.36.
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