Essex Property Q3 FFO Increases

(RTTNews) - Essex Property Trust, Inc. (ESS), Tuesday reported funds from operations of $253.5 million or $3.81 per share for the third quarter compared to $245.4 million or $3.69 per share last year.

Core FFO rose to $260 million or $3.91 a share from $254.3 million or $3.78 a share in previous year.

Profit totaled $118.4 million or $1.84 a share versus $87.3 million or $1.36 a share last year.

On average, analysts polled by Thomson Reuters estimated earnings of $1.37 a share for the period.

Looking ahead, the company sees earnings of $8.66-$8.78 per share, Total FFO of $15.86-$15.98 per share, and Core FFO of $15.50-$15.62 per share for the fiscal year 2024.

Whereas, Essex expects Core FFO of $3.82-$3.94 per share for the fourth quarter.