WASHINGTON (dpa-AFX) - Essex Property Trust (ESS) on Tuesday, reported lower net income available to common stockholders for the third quarter of 2026 compared with the same period a year earlier.
Net income available to common stockholders declined to $98.069 million from $164.621 million in the third quarter of 2025. FFO attributable to common stockholders and unitholders decreased to $264.693 million from $268.673 million, while FFO per share fell to $3.98 from $4.03. Core FFO increased to $266.201 million from $264.506 million, with Core FFO per share rising to $4.00 from $3.97.
For the first nine months, net income available to common stockholders declined to $266.717 million from $589.093 million. Core FFO per share increased to $12.15 from $11.96.
Essex revised its 2026 guidance and now expects net income of $5.62 to $5.74 per share and Core FFO of $16.10 to $16.22 per share. Fourth-quarter Core FFO is expected at $3.95 to $4.07 per share. The company also expects full-year same-property revenue growth of 2.8 percent to 3.0 percent and net operating income growth of 2.8 percent to 3.2 percent.
ESS is currently trading after hours at $274.85 up $0.77 or 0.28 percent on the New York Stock Exchange.
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