Essex Property Trust Inc. (ESS) on Tuesday reported first-quarter 2026 results showing a decline in net income available to common stockholders while funds from operations increased.
The real estate investment trust reported net income of $106.2 million compared to $203.1 million in the prior-year period.
Funds From Operations rose to $278.0 million from $264.6 million a year earlier. On a per-share basis, FFO increased to $4.17 from $3.97 in the same quarter last year.
Core Funds From Operations reached $270.9 million, up from $264.5 million in the first quarter of 2025. Core FFO per share increased to $4.06 from $3.97 in the prior-year period.
ESS is currently trading after hours at $270.00, up $2.12 or 0.79 percent on the New York Stock Exchange.
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