Essex Property Trust (ESS) Q3 FFO Surpass Estimates

Core Insights - Essex Property Trust (ESS) reported quarterly funds from operations (FFO) of $3.97 per share, exceeding the Zacks Consensus Estimate of $3.96 per share, and up from $3.91 per share a year ago, indicating a surprise of +0.25% [1] - The company posted revenues of $473.3 million for the quarter ended September 2025, slightly missing the Zacks Consensus Estimate by 0.47%, but up from $450.7 million year-over-year [2] - The stock has underperformed, losing about 10.3% since the beginning of the year, while the S&P 500 has gained 17.2% [3] Financial Performance - Over the last four quarters, Essex Property Trust has surpassed consensus FFO estimates four times and topped consensus revenue estimates three times [2] - The current consensus FFO estimate for the upcoming quarter is $4.01, with expected revenues of $477.94 million, and for the current fiscal year, the estimate is $15.96 on $1.89 billion in revenues [7] Market Outlook - The sustainability of the stock's price movement will depend on management's commentary during the earnings call and future FFO expectations [3][4] - The Zacks Industry Rank places the REIT and Equity Trust - Residential sector in the bottom 41% of over 250 Zacks industries, indicating potential challenges for stock performance [8] - The current Zacks Rank for Essex Property Trust is 3 (Hold), suggesting the stock is expected to perform in line with the market in the near future [6]