Essex Announces First Quarter 2026 Results

Essex Property Trust, Inc. (NYSE: ESS) (the “Company”) announced today its first quarter 2026 earnings results and related business activities. Net Income, Funds from Operations (“FFO”), and Core FFO per diluted share for the three-month period ended March 31, 2026 are detailed below. Three Months Ended March 31, % 2026 2025 Change Per Diluted Share Net Income $1.65 $3.16 -47.8% Total FFO $4.17 $3.97 5.0% Core FFO $4.06 $3.97 2.3% Recent Highlights: Reported Net Income per diluted share for the first quarter of 2026 of $1.65, compared to $3.16 in the first quarter of 2025. The decrease is mainly attributable to gain on sale of real estate and land recognized in the first quarter of 2025. Grew Core FFO per diluted share by 2.3% compared to the first quarter of 2025, exceeding the midpoint of the Company’s guidance range by $0.11. The outperformance was primarily driven by favorable same-property net operating