Essex Property Trust, Inc. (ESS) a fully integrated real estate investment trust, Tuesday reported first-quarter 2025 results, with Funds from Operations totaling $264.6 million, down from $305.5 million in the prior-year period. FFO per share was $3.97 compared to $4.60 a year ago.
Net income available to common stockholders fell to $203.1 million from $272.7 million. The company's Core FFO, which excludes certain non-recurring items, rose to $264.5 million from $254.7 million, with Core FFO per share increasing to $3.97 from $3.83.
The company's results reflect higher depreciation expenses and reduced gains from asset sales, offset by lower general and administrative expenses and strong performance from its core real estate portfolio.
ESS is currently trading at $275.16 down $2.41 or 0.87 percent on the New York Stock Exchange.
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