Essex Property Trust Q1 FFO Rises

(RTTNews) - Essex Property Trust, Inc. (ESS) reported on Tuesday that Funds from Operations for first-quarter increased to $305.5 million or $4.60 per share from last year's $253.7 million or $3.80 per share.

Core FFO stood at $254.6 million or $3.83 per share compared to $243.7 million or $3.65 per share in previous year.

Earnings totaled $272.7 million or $4.25 per share versus $153.5 million or $2.38 per share in prior year.

Analysts, on average, polled by Thomson Reuters estimated earnings of $1.29 per share.

Looking forward, the company now expects profit of $8.04 to $8.44 per share, and Core FFO of $15.03 to $15.43 per share for the fiscal year 2024.