CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 79.75% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money.
Open platformOpen platform

Essex Property Trust Q3 EPS beats estimates, raises 2026 outlook

By Reuters News


Overview

  • US multifamily REIT's Q3 EPS beat analyst expectations

  • Core FFO per share rose 0.8% yr/yr, driven by same-property revenue growth

  • Company raised full-year 2026 guidance for net income and Core FFO


Outlook

  • Essex raises 2026 Core FFO guidance midpoint to $16.16 per share

  • Company now sees 2026 same-property revenue growth at 2.8%-3.0%, midpoint 2.9%

  • Essex expects Q4 2026 Core FFO per share between $3.95 and $4.07


Result Drivers

  • SAME-PROPERTY REVENUE GROWTH - Co said Core FFO per share rose 0.8% yr/yr, driven by same-property revenue growth

  • REGIONAL PERFORMANCE - Co said same-property revenue growth was strongest in Northern California, with San Francisco up 8.0% yr/yr

  • SCHEDULED RENT INCREASES - Co said scheduled rent increases contributed 2.5% to same-property revenue growth in Q3


Company press release:


Key Details

Metric

Beat/Miss

Actual

Consensus Estimate

Q3 EPS

Beat

$1.52

$1.47 (10 Analysts)


Analyst Coverage

  • The current average analyst rating on the shares is "hold" and the breakdown of recommendations is 9 "strong buy" or "buy", 14 "hold" and 3 "sell" or "strong sell"

  • The average consensus recommendation for the residential reits peer group is "buy."

  • Wall Street's median 12-month price target for Essex Property Trust, Inc. is $297.00, about 7.9% above its October 26 closing price of $275.30

  • The stock recently traded at 45 times the next 12-month earnings vs. a P/E of 48 three months ago


Reuters Recommended Reads

  • Oct 26 - Sun Communities Q3 core FFO per share rises driven by manufactured houses strength

  • Oct 26 - Welltower Q3 normalized FFO per share rises 25%, guidance raised

  • Oct 27 - WP Carey Q3 revenue beats estimates, raises annual AFFO forecast on strong investment activity


For questions concerning the data in this report, contact Estimates.Support@lseg.com. For any other questions or feedback, contact reuters.support@thomsonreuters.com.


(This story was created using Reuters automation and AI based on LSEG and company data. It was checked and edited by a Reuters journalist prior to publication.)

Capital.com is an execution-only brokerage platform and the content provided on the Capital.com website is intended for informational purposes only and should not be regarded as an offer to sell or a solicitation of an offer to buy the products or securities to which it applies. No representation or warranty is given as to the accuracy or completeness of the information provided.

The information provided does not constitute investment advice nor take into account the individual financial circumstances or objectives of any investor. Any information that may be provided relating to past performance is not a reliable indicator of future results or performance.

To the extent permitted by law, in no event shall Capital.com (or any affiliate or employee) have any liability for any loss arising from the use of the information provided. Any person acting on the information does so entirely at their own risk.

Any information which could be construed as “investment research” has not been prepared in accordance with legal requirements designed to promote the independence of investment research and as such is considered to be a marketing communication.