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AI brief of an SEC Form 8-K · Essex Property Trust (ESS)

Essex Raises 2024 Core FFO Guidance as Q3 Core FFO Rises 3.4% to $3.91 per Share

Mixed Impact 4 of 5 earnings Written later

Essex Property Trust reported third quarter 2024 net income of $1.84 per diluted share, up from $1.36 a year earlier, and Core FFO of $3.91 per diluted share, up 3.4%. The company raised its full-year 2024 Core FFO and net income guidance midpoints but lowered its Total FFO midpoint, so shareholders see higher core earnings and a mixed picture on the FFO guidance.

Key points

  • Q3 2024 net income per diluted share was $1.84 versus $1.36 in Q3 2023, largely due to gains on remeasurement of co-investments.
  • Core FFO per diluted share was $3.91 in Q3 2024, $0.04 above the midpoint of guidance and up 3.4% from $3.78.
  • Full-year 2024 Core FFO guidance midpoint rose $0.06 to $15.56; the Total FFO midpoint fell $0.13 to $15.92.
  • Same-property revenue grew 3.5% and same-property NOI grew 2.6% versus Q3 2023.

The filing

CompanyEssex Property Trust (ESS)
Form8-K, current report
Filed with the SECOct 29, 2024, 4:49 PM ET
Accession number0001140361-24-044545

Items reported: 2.02 Results of Operations

Read the filing on SEC.gov ↗

Written by AI (Anthropic Claude, claude-haiku-5-5) on Nov 8, 2026, 1:11 AM ET, from the text of the filing and its press-release exhibits only. Written later: this filing was briefed after the fact, when past filings were added to the site, so the brief may be read with hindsight; the filing itself is the record of what was known on October 29, 2024.

Briefs are written by AI from the filing text (each brief's own page names the model) and can contain mistakes — open the filing before acting on anything. Impact (1-5) and tone are the model's reading of the filing for shareholders, not a price forecast. Not investment advice.