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18:00
Jul 30 ◎

ESS FY2026 Q2 Watch

Essex Property Trust, Inc. (ESS) FY2026 Q2 Earnings Call

ANDURIL ▾

Angela Kleiman

Anduril's expansion in Southern California is a nascent positive demand driver for Essex's multifamily portfolio, but too new to quantify.

"We are seeing green shoes like you said from Andril and some of these aerospace"

ANDURIL WATCH

HIGH

17:00
Apr 29 ◎

ESS FY2026 Q1 Watch

Essex Property Trust, Inc. (ESS) FY2026 Q1 Earnings Call

CPT ESS ▾

Rylan Burns

Essex is monitoring the Camden portfolio sale process to gauge cap rates and investment appetite in its core markets, but was careful not to disclose specifics due to NDAs.

"we do look at everything in our markets. You know, we're also subject to non-disclosure agreements, so I can't elaborate on details on any specific one deal specifically."

CPT WATCH

Angela Kleinman

First quarter results beat expectations with strong revenue trends, driven by Northern California outperformance and a supply-constrained market. Management maintains a cautiously optimistic full-year outlook, holding guidance until peak leasing season provides further clarity. The low supply environment provides resilience, and management confidence in growth is high given April rent growth north of 3%.

"While we have started off the year in a solid position with revenue growth trending ahead of plan, we'd like to get further visibility into peak leasing season before adjusting our forecast due to the current macro uncertainty."

ESS WATCH

HIGH

17:00
Feb 05 ◎

ESS FY2025 Q4 Watch

Essex Property Trust, Inc. (ESS) FY2025 Q4 Earnings Call

MSFT OPENAI AMZN ESS ▾

Angela Kleinman

Microsoft's return-to-office mandate is expected to similarly support Seattle housing demand, driving occupancy and rent growth.

"Microsoft starts return to office in Q1."

MSFT WATCH

Angela Kleinman

OpenAI's large office expansion in Seattle is a positive indicator for future job growth and housing demand in the market.

"We're also seeing additional leasing activities by OpenAI. They quadrupled their space in Seattle."

OPENAI WATCH

Angela Kleinman

Amazon's return-to-office enforcement is expected to drive demand for Seattle multifamily housing by increasing office occupancy and tenant move-ins in the area.

"Amazon starts enforcing return to office in January. Microsoft starts return to office in Q1."

AMZN WATCH

Angela Kleinman

The company expects stable, moderate growth in 2026, driven by a significant decline in housing supply offset by ongoing uncertainty in the job market. The tone is cautiously optimistic, with clear upside and downside scenarios.

"we anticipate steady West Coast fundamentals to deliver solid blended rent growth above the U.S. average and at a level comparable to 2025"

ESS WATCH

HIGH

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