Quarterly ResultApr 29, 2026, 04:34 PM
ESS Q1 Net Income $106.2M, -47.7% YoY; EPS $1.65, -47.9% YoY
AI Summary
Essex Property Trust, Inc. reported Q1 2026 net income available to common stockholders of $106.2 million, a 47.7% decrease year-over-year, with diluted EPS of $1.65, down 47.9%. Total revenues increased to $484.8 million from $464.6 million in Q1 2025. The company operates as a self-administered and self-managed REIT, serving as the sole general partner of Essex Portfolio, L.P., owning approximately 96.7% of the operating partnership.
Key Highlights
- Q1 2026 Net Income available to common stockholders: $106.2 million, down 47.7% YoY.
- Q1 2026 Diluted EPS: $1.65, down 47.9% YoY.
- Q1 2026 Total Revenues: $484.8 million, up 4.3% YoY.
- Q1 2026 Common Stock Dividends: $2.59 per share, up from $2.57 per share YoY.
- Q1 2026 Net Cash from Operating Activities: $287.2 million, up 2.0% YoY.
- Q1 2026 Net Cash used in Investing Activities: $(105.2) million, a 60.7% decrease in cash used YoY.
- Q1 2026 Net Cash used in Financing Activities: $(220.2) million, compared to $17.8 million provided YoY.
- Company owned 96.7% of Operating Partnership as of March 31, 2026.