Essex Property Trust Reports Strong Q4 Results
San Mateo, Calif. – Essex Property Trust Inc. (ESS) announced solid financial results for the fourth quarter, surpassing Wall Street expectations.
Key Metrics:
* Funds from operations (FFO): $261.5 million ($3.92 per share) vs. analysts' estimate of $3.90 per share
* Net income: $257.5 million ($4 per share)
* Revenue: $454.5 million, exceeding the consensus forecast of $453.1 million
Outlook:
For the current quarter ending in March, Essex Property Trust anticipates FFO per share in the range of $3.86 to $3.98. Full-year FFO is projected between $15.56 and $16.06 per share.
Analyst Coverage:
Access the Zacks stock report on ESS at https://www.zacks.com/ap/ESS