Essex Property Trust (ESS) reported Q3 core funds from operations of $3.91 per diluted share late Tuesday, up from $3.78 a year earlier.
Analysts polled by Capital IQ expected an adjusted FFO of $3.31, if comparable.
Revenue in the three months ended Sept. 30 rose to $450.7 million from $419.2 million a year earlier.
Analysts surveyed by Capital IQ expected $445.3 million.
The company expects Q4 core FFO of $3.82 to $3.94 per diluted share. Analysts surveyed by Capital IQ expect adjusted FFO of $3.30, if comparable.
The company expects a full-year core FFO of $15.50 to $15.62 per diluted share versus previous guidance of $15.38 to $15.62. Analysts surveyed by Capital IQ expect an adjusted FFO of $13.53, if comparable.
The company expects full-year revenue for same-property growth on a cash basis of 3.1% to 3.4% versus previous guidance of 2.7% to 3.3%.
Price: 292.00, Change: -6.43, Percent Change: -2.15
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