Essex Property Trust (ESS) Q3 2026 Earnings Call Transcript

Essex Property Trust reported third-quarter 2026 results with core FFO per diluted share of $4.00, a $0.01 beat versus the midpoint of guidance. Same-property revenue rose 3.0% year over year, supported by stronger performance in Northern California and recovery in Seattle, while same-property NOI increased 3.1%. Management raised the full-year core FFO midpoint expectation to 3.0%. Northern California saw blended rent growth of 7.3%, compared with 2.1% in Seattle and 0.9% in Southern California. The company reiterated full-year core FFO guidance of $16.10 to $16.22 per share.