The company said diluted net income per share for Q3 2024 was $1.84 (versus $1.36 a year earlier), and Core FFO per share was $3.91 (versus $3.78 a year earlier, up 3.4%). It attributed the increase in net income mainly to gains on remeasurement of co-investments recognized in Q3.

1. 01

   The company said diluted net income per share for Q3 2024 was $1.84 (versus $1.36 a year earlier), and Core FFO per share was $3.91 (versus $3.78 a year earlier, up 3.4%). It attributed the increase in net income mainly to gains on remeasurement of co-investments recognized in Q3.

2. 02

   Essex set its full-year 2024 diluted Core FFO per share outlook at $15.50 to $15.62, raising the midpoint by $0.06, and expects same-property revenue growth of 3.10% to 3.40% and same-property NOI growth of 2.30% to 2.90%, the company said.

3. 03

   Essex said same-property revenue for Q3 2024 rose 3.5% from a year earlier, NOI rose 2.6%, and revenue increased 1.2% from the prior quarter. The company also said Core FFO for the quarter beat the midpoint of its prior outlook by $0.04 per share, primarily driven by same-property revenue growth.

4. 04

   The company said it acquired and consolidated 2 joint venture apartment communities in San Jose for a combined $290.5 million on a gross basis, and issued 10-year senior unsecured notes due in April 2034 totaling $200.0 million at an effective yield of 5.1%.

Analysis scope · Filing body and confirmed press-release exhibitWe analyzed the filing body and confirmed exhibits. This is not a review of other exhibits, investor presentations or the full earnings call.

AI summarized the filing and translated the summary into English; it may differ from the original. For reference only, not investment advice. AI translated the published Korean report into English. Figures are copied as filed, not recalculated.

Original filing

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