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Jun 30, 2025
Essex Property Trust Q2 2025 Earnings Report
Essex Property Trust reported higher earnings in Q2 2025, driven by gains on property sales and improved same-property performance.
Key Takeaways
Essex Property Trust delivered strong Q2 2025 results with a surge in net income and Core FFO per share exceeding guidance. Revenue grew as same-property metrics improved across all regions.
Revenue by Geographic Location
Forward Guidance
Essex raised its full-year 2025 guidance, citing stronger revenue and NOI expectations, driven by favorable trends in same-property performance and market fundamentals.
Positive Outlook
- Raised Net Income guidance midpoint to $10.17 per share
- Increased Core FFO guidance midpoint to $15.91 per share
- Same-property NOI growth guidance increased to 3.10%
- Improved blended rent growth expectation to 2.80%
- Q3 Core FFO guidance set at $3.89–$3.99 per share
Challenges Ahead
- Operating expenses projected to remain elevated at midpoint of 3.25%
- Sequential Core FFO expected to decline from Q2 to Q3
- Structured finance investments to reduce Q3 Core FFO by $0.02/share
- Revenue growth guidance modestly revised upward by only 0.15%
Historical Earnings Impact
Analyze how earnings announcements historically affect stock price performance
Avg. Return Before/After Earnings
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