Essex Property Trust posts Q3 revenue growth and raises FY 2026 Core FFO guidance
Essex Property Trust reported a 3.0% year‑over‑year increase in same‑property revenue for the third quarter of 2026 and Core FFO per share rose $0.01 above the prior guidance midpoint. Net income fell to $98.069 million from $164.621 million a year earlier, while Core FFO per share reached $4.00. The company secured a $275 million unsecured term loan and revised full‑year 2026 Core FFO guidance to $11.50‑$11.60 per share. EPS for the quarter was $1.52 and revenue was $490.37 million.
Why it matters
The raised FY 2026 Core FFO guidance signals higher expected cash flow, which may support dividend sustainability and valuation multiples (the company expects $11.50‑$11.60 per share, up from $11.40‑$11.60). The decline in net income reflects lower gains from property sales, indicating a shift toward operating performance rather than one‑time disposals.
Key facts
- 1Same‑property revenue grew 3.0% year‑over‑year in Q3 2026. stocktitan.net
- 2Core FFO per share exceeded the prior midpoint by $0.01 in Q3 2026. tradingview.com
- 3Net income for Q3 2026 was $98.069 million, down from $164.621 million in Q3 2025. rttnews.com
- 4Core FFO per share for Q3 2026 was $4.00. rttnews.com
- 5Full‑year 2026 Core FFO guidance was revised to $11.50‑$11.60 per share. stocktitan.net
- 6The company obtained an unsecured term loan of $275 million priced at SOFR plus 0.80%. stocktitan.net
Summary written by AlphAI AI Desk from 4 of 4 sources. Not investment advice. Figures are as stated by the linked sources.