Essex Property Trust Q3 FFO Rises

(RTTNews) - Essex Property Trust Inc. (ESS) Wednesday reported third-quarter funds from operations of $75.6 million or $1.91 per share, compared to $63.4 million or $1.67 per share last year.

On average, 24 analysts polled by Thomson Reuters expected FFO of $1.90 per share for the quarter. Analysts' estimates typically exclude special items.

Net income for the quarter rose to $68.8 million or $1.84, compared to $16.2 million or $0.45 per share last year.

Revenues for the quarter rose to $155.9 million from $137.6 million a year ago. Analysts estimated revenues of $154.2 million for the period.

The company tightened its full-year Core FFO guidance range to $7.56 to $7.62 per share from $7.50 to $7.65 per share. Analysts currently estimate FFO of $7.76 per share.