Essex Property Trust (ESS): What Goldman Sachs says vs. What Goldman Sachs does
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This past week again saw the West Coast Apartment REITs in the red despite continued positive apartment operating data points and private market commentary. This provides long term investors with what I believe to be an excellent opportunity. Today I will touch upon: 1) Update on September apartment rental collections
The prudent sounding verbiage in sell-side reports can lead to terrible investment outcomes
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This is in response to Baird's enlightening research piece (Seeking Alpha synopsis here [https://seekingalpha.com/news/3614408-wait-for-rent-growth-to-bottom-on-apartment-reits-baird] ) earlier this month letting us all know to wait for rents to bottom before buying apartment REITs. The wizards at Baird think this is what worked last time. Let me
Equity Residential (EQR): Recap transaction could give shareholders ALL their money back while still owning ALL the apartments
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The 9/14 $2.4 billion California apartment [https://www.privateeyecapital.com/the-private-market-for-california-apartments-is-alive-well/] transaction lends credibility to the notion of being able to recapitalize Equity Residential (full writeup here [https://www.privateeyecapital.com/equity-residential-the-megacity-will-thrive-and-the-private-market-screams-buy/] ), pay shareholders back 94-103% of their money invested (pretty much right away) and then still owning
The private market for California apartments is Alive & Well
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Quick N Dirty: On 9/14/20, Aimco announced a series of transactions including the formation of a $2.4 bn JV with a passive institutional partner whereby LA/SF apartment properties were sold at a 4.2% cap rate/$592k per unit valuation. This valuation is consistent with what
Essex (ESS): Following up
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I received a few questions, via private message, regarding the our piece [https://www.privateeyecapital.com/why-would-any-long-term-investor/] on the Essex Property Trust (ESS) and I wanted to follow up (without attribution to the person/organization asking the question of course - we understand the value of anonymity). The main concerns
Why would any long term investor not own Essex Property Trust (ESS)?
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Note: A very very rough draft was sent to our FREE Actionable Investment Idea Newsletter [https://www.privateeyecapital.com/signup/] subscribers on Friday. If you like being in the know and want FREE weekend reading, be sure to sign up NOW (note that you must confirm your email address within
Why Trump's 'Eviction Moratorium' is a Nothing Burger for the megacity apartment REITs
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BIG Headline -->Minimal Impact
Avalon Bay(AVB): Multiple Ways to Win
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This article was sent out to our FREE Actionable Investment Idea Newsletter subscribers Friday morning (8/28). To get FREE Actionable Investment Ideas delivered to your Inbox before they appear on this site, be sure to $ubscribe NOW! [https://www.privateeyecapital.com/signup/] It's FREE!! (brought to you
