Essex Property Trust, Inc. (NYSE:ESS) announced today that its Board of Directors has declared a regular quarterly cash dividend of $2.0775 per common share, payable October 15, 2020 to shareholders of record as of September 30, 2020.
Essex Property Trust (ESS) reported earnings 30 days ago. What's next for the stock? We take a look at earnings estimates for some clues.
Essex Property Trust, Inc. (NYSE:ESS) announced today that its operating partnership, Essex Portfolio, L.P. (the "Issuer"), priced an underwritten public offering of $600.0 million aggregate principal amount senior notes, consisting of $300.0 million aggregate principal amount of 1.650% senior notes due 2031 (the "2031 Notes") and $300.0 million aggregate principal amount of 2.650% senior notes due 2050 (the "2050 Notes" and together with the 2031 Notes, the "Notes"). The 2031 Notes were priced at 99.035% of par value with a yield to maturity of 1.752% and the 2050 Notes were priced at 99.691% of par value with a yield to maturity of 2.665%. Interest is payable on the 2031 Notes semiannually on January 15 and July 15 of each year with the first interest payment due January 15, 2021. Interest is payable on the 2050 Notes semiannually on March 1 and September 1 of each year with the first interest payment due March 1, 2021. The 2031 Notes mature on January 15, 2031 and the 2050 Notes mature on September 1, 2050. The Notes will be the senior unsecured obligations of the Issuer and will be fully and unconditionally guaranteed by Essex Property Trust, Inc. The Notes offering is expected to close on August 24, 2020, subject to the satisfaction of certain closing conditions.