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Dec 31, 2021
Essex Property Trust Q4 2021 Earnings Report
Announced fourth quarter and full-year 2021 results.
Key Takeaways
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.
Net Income per diluted share for the fourth quarter of 2021 was $2.10, compared to $1.47 in the fourth quarter of 2020.
Total FFO per diluted share was $4.30, a 32.7% increase over the fourth quarter of 2020, attributed to an unrealized gain related to the Company’s investment in technology co-investments and a one-time legal settlement.
Core FFO per diluted share improved by 7.6% compared to the fourth quarter of 2020.
Same-property gross revenue and NOI growth of 4.0% and 4.7%, respectively, compared to the fourth quarter of 2020.
Revenue by Geographic Location
Forward Guidance
For the first quarter of 2022, the Company has established a guidance range of Core FFO per diluted share of $3.24 to $3.36.
Revenue & Expenses
Visualization of income flow from segment revenue to net income
Historical Earnings Impact
Analyze how earnings announcements historically affect stock price performance
Avg. Return Before/After Earnings
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