Essex Property Posts $98.1M Third-Quarter Net Income
ESS sits 15% above its 52-week low of $238.46.
Summary
Essex Property Trust reported third-quarter net income of $98.1 million, or EPS of $1.52, and raised its full-year 2026 guidance, now seeing 2026 EPS of $5.62 to $5.74. The headline gives only the bottom line, with no Core FFO figure, per-share Core FFO number, or Core FFO guidance update, so the read-through versus the Q2 beat-and-raise is unclear. Q2 set a high bar: Core FFO of $4.08 per share beat guidance by $0.10, full-year Core FFO guidance was raised, and a new $500 million buyback was approved. The company also carries $55.8 million in legal settlement charges from Q2 and recently added a $275 million unsecured term loan maturing in 2029. The key comparison is Core FFO and any change to full-year Core FFO guidance, which this headline does not provide.
At the time of this announcement, ESS was trading at $274.85 on NYSE in the Real Estate & Construction sector, with a market capitalization of approximately $17.7B. The 52-week trading range was $238.46 to $303.35. This news item was assessed with positive market sentiment and an importance score of 7 out of 10. Source: Dow Jones Newswires.