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ESS

Essex Property Trust·NYSE
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ESS fundamentals

Essex Property Trust (ESS) released its earnings on Feb 4, 2026: revenue was 472.92M (YoY +4.61%), missed estimates; EPS was 1.25 (YoY -68.75%), missed estimates.
Revenue / YoY
472.92M
+4.61%
EPS / YoY
1.25
-68.75%
Report date
Feb 4, 2026
ESS Earnings Call Summary for Q4,2025
  • Revenue Growth: 3.3% same-store revenue in 2025, driven by Northern California tech expansion and limited supply. Los Angeles occupancy nears 95% stabilization.
  • 2026 Outlook: 2.4% same-store revenue growth with 2.5% blended rent growth, supported by 20% YoY supply decline. Northern California cap rates compress to low 4% range.
  • Expense Management: 3% expense growth (lowest in years) due to controlled costs and insurance rate declines.
  • Risk Mitigation: Structured finance redemptions create 1.8% FFO headwind, but redeployment into Northern California fee simple acquisitions positions for long-term growth.
EPS
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Q3,2017
Q4,2017
Q1,2018
Q2,2018
Q3,2018
Q4,2018
Q1,2019
Q2,2019
Q3,2019
Q4,2019
Q1,2020
Q2,2020
Q3,2020
Q4,2020
Q1,2021
Q2,2021
Q3,2021
Q4,2021
Q1,2022
Q2,2022
Q3,2022
Q4,2022
Q1,2023
Q2,2023
Q3,2023
Q4,2023
Q1,2024
Q2,2024
Q3,2024
Q4,2024
Q1,2025
Q2,2025
Q3,2025
Q4,2025
Actual
4.761.291.131.472.5911.822.11.120.871.432.862.381.551.361.024.251.451.8443.163.442.561.25
Forecast
1.44911.11221.1231.01570.96220.87751.01591.07681.18911.34781.37791.35471.28711.35621.41531.45221.29431.32941.34951.36171.41981.47781.55951.4543
Surprise
0.00%
0.00%
0.00%
0.00%
0.00%
0.00%
0.00%
0.00%
0.00%
0.00%
0.00%
0.00%
0.00%
0.00%
0.00%
0.00%
+228.48%
+15.99%
+0.62%
+44.73%
+169.17%
+13.96%
+79.15%
+95.02%
-5.81%
-35.45%
+3.78%
+111.12%
+84.91%
+14.29%
-3.91%
-29.76%
+228.36%
+9.07%
+36.35%
+193.75%
+122.57%
+132.78%
+64.16%
-14.05%
Revenue
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Q3,2017
Q4,2017
Q1,2018
Q2,2018
Q3,2018
Q4,2018
Q1,2019
Q2,2019
Q3,2019
Q4,2019
Q1,2020
Q2,2020
Q3,2020
Q4,2020
Q1,2021
Q2,2021
Q3,2021
Q4,2021
Q1,2022
Q2,2022
Q3,2022
Q4,2022
Q1,2023
Q2,2023
Q3,2023
Q4,2023
Q1,2024
Q2,2024
Q3,2024
Q4,2024
Q1,2025
Q2,2025
Q3,2025
Q4,2025
Actual
--------------------------------389.88M368.15M368.46M360.90M352.90M348.76M360.62M369.17M379.22M397.24M406.86M413.40M409.70M413.26M416.40M418.94M424.21M439.78M448.13M452.08M462.09M467.61M470.94M472.92M
Forecast
--------------------------------382.46M382.24M367.30M366.10M356.21M349.50M355.35M368.16M374.80M390.87M405.49M412.33M410.29M412.25M416.84M418.65M420.21M430.68M443.45M449.06M456.69M466.33M472.11M473.98M
Surprise
0.00%
0.00%
0.00%
0.00%
0.00%
0.00%
0.00%
0.00%
0.00%
0.00%
0.00%
0.00%
0.00%
0.00%
0.00%
0.00%
+1.94%
-3.69%
+0.32%
-1.42%
-0.93%
-0.21%
+1.48%
+0.27%
+1.18%
+1.63%
+0.34%
+0.26%
-0.14%
+0.25%
-0.11%
+0.07%
+0.95%
+2.11%
+1.06%
+0.67%
+1.18%
+0.27%
-0.25%
-0.22%

Earnings Call