Essex Property Trust, Inc. Reports Earnings Results for the Fourth Quarter and Full Year Ended December 31, 2023
February 06, 2024 at 04:38 pm EST
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Essex Property Trust, Inc. reported earnings results for the fourth quarter and full year ended December 31, 2023. For the fourth quarter, the company reported sales was USD 418.95 million compared to USD 412.36 million a year ago. Revenue was USD 421.75 million compared to USD 415.18 million a year ago. Net income was USD 65.39 million compared to USD 185.17 million a year ago. Basic earnings per share from continuing operations was USD 1.02 compared to USD 2.86 a year ago. Diluted earnings per share from continuing operations was USD 1.02 compared to USD 2.86 a year ago.
For the full year, sales was USD 1,658.26 million compared to USD 1,595.68 million a year ago. Revenue was USD 1,669.4 million compared to USD 1,606.81 million a year ago. Net income was USD 405.83 million compared to USD 408.32 million a year ago. Basic earnings per share from continuing operations was USD 6.32 compared to USD 6.27 a year ago. Diluted earnings per share from continuing operations was USD 6.32 compared to USD 6.27 a year ago.
Essex Property Trust, Inc. is specialized in the holding, development and management of residential real estate properties.
At the end of 2023, the group's portfolio comprised 252 residential units (61,997 apartments) located in Southern California (26,209 apartments), in Northern California (23,263) and in the Seattle metropolitan area (12,525).