Essex Property Trust (ESX) Q4 Net Income Falls 18%

Essex Property Trust (ESX) reported Q4 net income of $18.5 million, a 18% decline from $22.6 million in the same period of 2025. The company attributed the drop to soft multifamily rental demand and higher interest rates, with same-store rents down 0.3% year-over-year. Revenue for the quarter totaled $213.7 million, down 6.2% from $228.5 million in Q4 2025. The company reaffirmed its 2026 guidance, maintaining a full-year net operating loss expectation.