With a market cap of around $18.6 billion, California-based real estate investment trust (REIT) Essex Property Trust, Inc. (ESS) is a leader in West Coast multifamily housing. With a focus on acquiring, developing, and managing high-quality residential properties, Essex holds ownership stakes in 255 apartment communities, totaling over 62,000 homes. Positioned in sought-after markets, Essex continues to shape urban living on the West Coast while delivering value to its investors through its integrated real estate operations.
The REIT is all set to unveil its fiscal 2024 Q3 earnings results on Tuesday, Oct. 29. Ahead of this event, analysts project the company to report a profit of $3.88 per share, reflecting a 2.7% jump from $3.78 per share registered in the year-ago quarter. Even more impressive is the company’s solid track record of consistently surpassing Wall Street's bottom-line estimates in the last four quarterly reports. In the most recent quarter, ESS posted an adjusted EPS of $3.94, surpassing the consensus estimate by a 2.6% margin.
