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Published on 1 May 2024 on Zacks via Yahoo Finance

Essex Property (ESS) Q1 FFO & Revenues Beat, '24 View Revised

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Essex Property Trust Inc. ESS reported first-quarter 2024 core funds from operations (FFO) per share of $3.83, beating the Zacks Consensus Estimate of $3.74. The figure also improved 4.9% from the year-ago quarter.

Results reflect favorable growth in same-property revenues and net operating income (NOI). However, the same-property operating expenses partly acted as a dampener. ESS revised second-quarter and full-year 2024 guidance for core FFO per share.

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