Essex Q2 FY26 net income per share drops 71.8% to $0.97; Core FFO per share rises 1.2% to $4.08
ESS•Essex Q2 results
- Essex Property Trust Q2 2026 GAAP net income per diluted share dropped 71.8% to $0.97, citing a prior-year gain on sale of real estate and land.
- Q2 core FFO per diluted share rose 1.2% to $4.08, beating the guidance midpoint by $0.10 on higher same-property and non-same-property NOI.
- Same-property revenue increased 2.7% in Q2, while same-property NOI climbed 2.6%; financial occupancy edged down 0.2 percentage point to 96.3%.
Guidance and capital activity
- Full-year core FFO guidance midpoint lifted $0.20 to $16.14 per diluted share; net income midpoint cut $0.29 to $5.58.
- Disposed of a co-investment community for $105.3 million; repurchased 48,261 shares for $11.7 million, leaving $500 million authorization.
