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Essex Property Trust, Inc. (NYSE:ESS), a real estate investment trust with an $18.98 billion market capitalization and a GOOD financial health score according to InvestingPro, announced the outcomes of voting on several key issues during their Annual Meeting held on May 13, 2025. The meeting saw the election of nine directors to serve until the 2026 annual meeting and the ratification of KPMG LLP as the independent registered public accounting firm for the fiscal year ending December 31, 2025. The company, which has maintained dividend payments for 32 consecutive years and currently offers a 3.69% dividend yield, continues to demonstrate strong corporate governance practices.
The elected directors are John V. Arabia, Keith R. Guericke, Anne B. Gust, Maria R. Hawthorne, Amal M. Johnson, Mary Kasaris, Angela L. Kleiman, Irving F. Lyons, III, and George M. Marcus. Additionally, the company’s named executive officer compensation received advisory approval from shareholders.
The voting results for the election of directors showed a majority of votes in favor, with a notable amount of broker non-votes. The ratification of KPMG LLP as the company’s independent auditor passed with a significant majority.
The meeting also included an advisory vote on executive compensation, which passed with over 51 million votes in favor, against approximately 3.8 million, with 165,086 abstentions and over 2 million broker non-votes.
As of the record date, February 28, 2025, there were 64,325,580 shares of common stock outstanding and entitled to vote. The results of these votes are crucial for the company’s governance and strategic direction for the upcoming year.
This report is based on a press release statement and provides a summary of the key decisions made by Essex Property Trust, Inc. and Essex Portfolio, L.P. at their recent Annual Meeting.
In other recent news, Essex Property Trust reported its financial results for the first quarter of 2025, surpassing earnings expectations with an earnings per share (EPS) of $3.16, significantly higher than the forecasted $1.43. The company’s revenue also slightly exceeded projections, coming in at $456.4 million against an expected $454.92 million. These results reflect the company’s robust performance and strategic positioning in key markets like Northern California. Additionally, Essex Property Trust held its Annual Meeting, where nine directors were elected and KPMG LLP was ratified as the independent accounting firm for the fiscal year ending December 31, 2025. The advisory vote on executive compensation was also approved. Despite macroeconomic uncertainties, Essex maintains a stable outlook, expecting continued growth in its West Coast markets. During the earnings call, Essex executives highlighted the company’s strategic positioning and financial resilience, attributing their success to effective management and strong performance in Northern California. The company continues to navigate a complex economic environment while focusing on maximizing revenues and generating long-term accretion.
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