filecrux
Oct 28, 1:55 AM
$ESS Does Essex's
$0.02 raise to a
$16.16 Core FFO midpoint matter when the top of the range fell to
$16.22?
🏢 Essex Property Trust, an S&P 500 owner of West Coast apartments worth about
$17.64B at
$274.42 a share (16:00 ET, Oct 27, 2026), lifted its 2026 Core FFO midpoint by
$0.02 to
$16.16 a share
⚠️ The new
$16.10–
$16.22 range raises the floor from
$16.03 but lowers the ceiling from
$16.25, so the gain comes from narrowing the range with one quarter left, not from a higher top end
📉 Q4 Core FFO guidance of
$3.95–
$4.07 a share centers on
$4.01, flat with Q3's
$4.00 and below Q2's
$4.08
🚀 Q3 Core FFO of
$4.00 rose 0.8% from a year ago and beat the guidance midpoint by
$0.01, helped by 5.4% same-property revenue growth in Northern California, and the full-year same-property NOI midpoint rose 0.20 points to 3.0%
📅 Next: Earnings call Wednesday, October 28, 2026 at 9 a.m. PT (12 p.m. ET)
Source: Essex Q3 2026 release, SEC 8-K, Oct 27
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