Essex Property Trust (ESS) reported third-quarter 2026 core FFO and revenues that missed analyst estimates, primarily due to rising property expenses. While rental revenues increased, higher operating costs, particularly in maintenance, utilities, and real estate taxes, outpaced revenue growth. Despite the challenges, Northern California markets showed strong performance, and the company raised its full-year core FFO guidance.
Original sourceESSEX PROPERTY TRUST INC
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Latest price
$264.18
-0.39%
Alpha Vantage · 10/30/2026
One-year price history
Adjusted daily closes · 252 observations · as of Oct 30, 2026
1 month
-2.0%
3 months
-6.7%
6 months
+2.2%
1 year
+9.9%
Year to date
+5.0%
52-week range
$232.75 – $295.49
Fundamental snapshot
Latest reported period: Sep 30, 2026
Market cap
$17B
P/E
48.9
P/B
3.2
P/S
8.7
Revenue
$1.95B
Net income
$347.29M
Diluted EPS
5.39
Gross margin
67.80%
Net margin
17.80%
Return on equity
6.40%
Total debt
$6.64B
Cash
$80.3M
Free cash flow
$673.94M
Latest eight reported quarters
Reported quarterly values, newest first
| Period | Revenue | Net income | Gross margin | Net margin | Free cash flow |
|---|---|---|---|---|---|
| Sep 30, 2026 | $492.69M | $98.07M | 66.90% | 19.90% | $243.34M |
| Jun 30, 2026 | $489.05M | $62.46M | 68.40% | 12.80% | $180.74M |
| Mar 31, 2026 | $484.76M | $106.19M | 68.10% | 21.90% | $242.32M |
| Dec 31, 2025 | $479.63M | $80.57M | 67.90% | 16.80% | $7.54M |
| Sep 30, 2025 | $473.3M | $164.62M | 67.10% | 34.80% | $150.06M |
| Jun 30, 2025 | $469.83M | $221.36M | 68.60% | 47.10% | -$87.15M |
| Mar 31, 2025 | $464.58M | $203.11M | 67.50% | 43.70% | -$111.52M |
| Dec 31, 2024 | $454.47M | $257.45M | 68.00% | 56.60% | -$95.13M |
Reported figures can reflect company reporting conventions, restatements, or sector-specific accounting. Verify against filings before relying on a valuation comparison.
Recent ESS news
All market newsAmerican Homes 4 Rent (AMH) has seen a 12.2% share price gain over three years, but a Discounted Cash Flow (DCF) analysis suggests the stock is currently trading below its intrinsic value. The DCF model, anchored by $712.5m of free cash flow, projects that AMH's estimated intrinsic value is substantially higher than its current share price of US$31.92, indicating it is undervalued based on its cash flow generation from its single-family rental portfolio.
Original source