For the quarter ended September 2024, Essex Property Trust (ESS) reported revenue of $450.7 million, up 7.5% over the same period last year. EPS came in at $3.91, compared to $1.36 in the year-ago quarter.

The reported revenue compares to the Zacks Consensus Estimate of $445.88 million, representing a surprise of +1.08%. The company delivered an EPS surprise of +0.77%, with the consensus EPS estimate being $3.88.

While investors closely watch year-over-year changes in headline numbers -- revenue and earnings -- and how they compare to Wall Street expectations to determine their next course of action, some key metrics always provide a better insight into a company's underlying performance.

Since these metrics play a crucial role in driving the top- and bottom-line numbers, comparing them with the year-ago numbers and what analysts estimated about them helps investors better project a stock's price performance.

Here is how Essex Property Trust performed in the just reported quarter in terms of the metrics most widely monitored and projected by Wall Street analysts:

• Financial Occupancies - Same-Property Portfolio: 96.2% compared to the 96.3% average estimate based on four analysts.
• Revenues- Rental and other property: $448.14 million versus the nine-analyst average estimate of $442.96 million. The reported number represents a year-over-year change of +7.6%.
• Revenues- Management and other fees from affiliates: $2.56 million compared to the $2.62 million average estimate based on nine analysts. The reported number represents a change of -8% year over year.
• Rental and other property revenues- Same-property revenue: $413.21 million versus the two-analyst average estimate of $414.89 million. The reported number represents a year-over-year change of +3.7%.
• Revenue- Rental and other property- Other property: $7.49 million compared to the $7.82 million average estimate based on two analysts. The reported number represents a change of +25.6% year over year.
• Revenue- Rental and other property- Rental income: $440.65 million versus $442.24 million estimated by two analysts on average. Compared to the year-ago quarter, this number represents a +7.4% change.
• Net Earnings Per Share (Diluted): $1.84 compared to the $1.33 average estimate based on nine analysts.

View all Key Company Metrics for Essex Property Trust here>>>

Shares of Essex Property Trust have returned +1.4% over the past month versus the Zacks S&P 500 composite's +1.7% change. The stock currently has a Zacks Rank #3 (Hold), indicating that it could perform in line with the broader market in the near term.

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