Essex Property Trust Earnings Reports

Essex Property Trust reported a substantial increase in net income per diluted share for Q4 2024, alongside growth in Core FFO per diluted share, exceeding original guidance. Same-property revenues and NOI also saw growth, contributing to the company's strong performance.

Essex Property Trust, Inc. reported second quarter 2024 results, with Core FFO per diluted share growing by 4.5% compared to the second quarter of 2023, exceeding the midpoint of the Company’s guidance range by $0.11. The company also raised full-year 2024 guidance.

Essex Property Trust announced its first quarter 2024 earnings results, reporting a net income of $4.25 per diluted share, a total FFO of $4.60 per share, and a Core FFO of $3.83 per diluted share. The company also raised its full-year 2024 guidance.

Essex Property Trust, Inc. reported fourth quarter 2023 earnings, with net income per diluted share at $1.02, a decrease compared to $2.86 in Q4 2022. Core FFO per diluted share grew by 1.6% compared to Q4 2022. Same-property revenues and NOI grew by 2.9% and 2.3%, respectively.

Essex Property Trust reported a decrease in net income per diluted share for Q3 2023, from $1.43 to $1.36. However, the company achieved Core FFO per diluted share of $3.78, a 2.4% increase year-over-year, exceeding the midpoint of the guidance range by $0.03. Same-property revenues and NOI grew by 3.2% and 2.7%, respectively.

Essex Property Trust, Inc. reported strong second quarter 2023 results, with Net Income per diluted share at $1.55 and Core FFO per diluted share growing by 2.4% year-over-year. The company exceeded the midpoint of its Core FFO guidance range and raised its full-year 2023 earnings guidance, driven by higher same-property revenues and net operating income.

Essex Property Trust reported strong first quarter 2023 results, with Net Income per diluted share at $2.38, Total FFO per diluted share at $3.80, and Core FFO per diluted share at $3.65. The company exceeded its Core FFO guidance and increased its full-year outlook.

Essex Property Trust, Inc. reported strong results for the fourth quarter and full year 2022, exceeding expectations with a significant increase in Core FFO. The company's recovery from the economic disruption caused by the COVID-19 pandemic continued, driven by strong job growth on the West Coast.

Essex Property Trust announced strong Q3 2022 results, with Core FFO per share exceeding guidance and same-property revenue and NOI growth driven by the ongoing recovery in its West Coast markets.

Essex Property Trust, Inc. reported a decrease in Net Income per diluted share but an increase in Core FFO per diluted share. Same-property revenues and net operating income increased, and the company revised its full-year earnings guidance.

Essex Property Trust announced strong first quarter results, driven by improving market conditions and strength in key regions. The company's Core FFO per diluted share grew by 9.8% compared to Q1 2021, exceeding the midpoint of the guidance range by $0.07. Based on the company's strong performance in the first quarter, Essex increased its full-year guidance for net income and Core FFO per diluted share.

Essex Property Trust reported a strong fourth quarter and full year in 2021, driven by rent growth in Southern California and positive momentum in Northern California and Seattle. Core FFO exceeded expectations, and same-property gross revenue and NOI growth were positive.

Essex Property Trust reported a net income of $1.82 per diluted share for Q3 2021, compared to $1.13 in Q3 2020. Core FFO per diluted share was reported at $3.12, exceeding the high-end of the Company’s guidance range due to better-than-expected operating results. Same-property revenues and NOI increased by 2.7% and 2.2%, respectively, compared to the third quarter of 2020.

Essex Property Trust reported second quarter results with Core FFO and same-property revenues exceeding expectations. The company is confident in the West Coast economies and strength of their housing markets.

Essex Property Trust's first quarter results exceeded initial guidance, with the company cautiously optimistic about economic recovery due to declining COVID cases and increased vaccinations. Large tech employers in their markets are accelerating hiring and reopening offices, which is expected to improve apartment demand.

Essex Property Trust announced its Q4 2020 earnings, which were impacted by the Covid-19 pandemic. Net income per diluted share was $1.47, and core FFO per diluted share declined by 12.5% compared to Q4 2019. However, there were signs of stabilization with modestly improved same-property revenues on a sequential basis.

Essex Property Trust reported a decrease in net income per diluted share to $1.13, and a decline in Core FFO by 6.0% per diluted share. Same-property gross revenue and NOI also decreased by 6.7% and 10.8%, respectively. The company disposed of one apartment community for $51.5 million and repurchased 121,260 shares of common stock for $26.6 million.

Essex Property Trust reported a decrease in net income per diluted share to $1.29, and a decline in Core FFO per diluted share by 5.1% compared to Q2 2019. Same-property gross revenue and NOI also decreased, primarily due to increased delinquencies. Despite these challenges, the company disposed of apartment communities, repurchased shares, issued senior unsecured notes, and maintained a strong liquidity position.

Essex Property Trust reported a strong start to 2020, with Net Income per diluted share of $4.76 and Core FFO per diluted share growth of 7.7% compared to Q1 2019. However, due to the unprecedented challenges from the COVID-19 pandemic, the company has withdrawn its full-year guidance.

Essex Property Trust reported solid results for Q4 2019, with same-property NOI growth at the high-end of their guidance range, driven by strong demand for rental housing along the West Coast.