Essex Property Trust

Q4 2025 Q3 2025 +1.23%Q2 2025 -7.89%Q1 2025 +1.45%Q4 2024 +3.01%Q3 2024 -1.89%Q2 2024 -2.67%Q1 2024 -1.03%Q4 2023 -0.57%Q3 2023 -1.75%Q2 2023 -0.89%Q1 2023 +6.68%Q4 2022 +3.77%Q3 2022 -6.29%Q2 2022 +1.27%Q1 2022 -1.76%Q4 2021 -0.52%Q3 2021 +2.11%Q2 2021 -0.92%Q1 2021 -3.34%Q4 2020 +3.99%Q3 2020 +1.15%Q2 2020 -2.93%Q1 2020 +1.86%Q4 2019 +1.21%Q3 2019 -1.42%Q2 2019 +1.01%Q1 2019 +0.52%Q4 2018 +0.85%Q3 2018 +3.12%Q2 2018 -2.61%Q1 2018 -1.01%Q4 2017 -0.25%Q3 2017 -3.27%Q2 2017 -0.93%Q1 2017 +1.43%Q4 2016 +0.61%Q3 2016 +0.86%Q2 2016 +6.89%Q1 2016 -1.87%Q4 2015 -3.75%Q3 2015 -1.23%Q2 2015 +1.06%Q1 2015 +2.22%Q4 2014 +0.92%Q3 2014 +3.04%Q2 2014 -0.58%Q1 2014 +2.01%Q4 2013 +3.55%Q3 2013 -0.76%Q2 2013 -1.90%Q1 2013 -1.43%Q4 2012 +0.57%Q3 2012 -1.11%Q2 2012 -0.69%Q1 2012 +1.28%Q4 2011 -1.83%Q3 2011 +0.41%Q2 2011 +3.40%Q1 2010 +2.76%Q1 2011 +2.40%Q4 2008 +5.34%Q4 2010 +5.34%Q3 2009 -2.72%Q3 2010 -2.72%Q2 2009 +0.85%Q2 2010 +0.85%Q4 2009 +0.85%

May 06, 2020

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Mar 31, 2020

Essex Property Trust Q1 2020 Earnings Report

Announced first quarter 2020 results and withdrew full-year guidance due to the economic disruption and uncertainty of the COVID-19 pandemic.

Key Takeaways

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 However, due to the unprecedented challenges from the COVID-19 pandemic, the company has withdrawn its full-year guidance.

Reported Net Income per diluted share for the first quarter of 2020 of $4.76, compared to $1.81 in the first quarter of 2019, largely attributable to a gain on remeasurement of co-investments.

Grew Core FFO per diluted share by 7.7% compared to the first quarter of 2019, exceeding the midpoint of the first quarter guidance range by $0.07 per share.

Achieved same-property gross revenue and net operating income (“NOI”) growth of 3.2% and 3.9%, respectively, compared to the first quarter of 2019.

Acquired its joint venture partner’s 45.0% interest in a land parcel and six communities representing 2,020 apartment homes, together valued at approximately $1.0 billion on a gross basis, recognizing $6.5 million of promote income related to this transaction.