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Per Diluted Share Net Income Total FFO Core FFO San Mateo , California October 26 , 2021 - Essex Property Trust , Inc. ( NYSE : ESS ) ( the " Company " ) announced today its third quarter 2021 earnings results and related business activities . Net Income , Funds from Operations ( " FFO " ) , and Core FFO per diluted share for the three and nine months ended September 30 , 2021 are detailed below . ● ESSEX ANNOUNCES THIRD QUARTER 2021 RESULTS AND INCREASES FULL - YEAR 2021 GUIDANCE ● ESSEX PROPERTY TRUST , INC . 2021 Third Quarter 2021 Highlights : Three Months Ended September 30 , $ 1.82 $ 3.34 $ 3.12 2020 $ 1.13 $ 2.88 $ 3.15 % Change 61.1 % 16.0 % -1.0 % Nine Months Ended September 30 , 2020 2021 $ 5.40 $ 9.67 $ 9.24 $ 7.21 $ 9.53 $ 9.80 % Change Reported Net Income per diluted share for the third quarter of 2021 of $ 1.82 , compared to $ 1.13 in the third quarter of 2020 due to a higher gain on sale of real estate and no loss on early retirement of debt in the current quarter . -25.1 % 1.5 % -5.7 % Reported Core FFO per diluted share of $ 3.12 , exceeding the high - end of the Company's guidance range due to better - than - expected operating results . Same - property revenues and net operating income ( " NOI " ) increased by 2.7 % and 2.2 % , respectively , compared to the third quarter of 2020. The improvement is largely attributed to declining concessions in the current period compared to the prior - year period . www.essex.com Same - property sequential revenues increased 3.2 % led by an increase in scheduled rents and lower levels of concessions and delinquencies . Acquired one apartment community for $ 53.0 million and two operating commercial properties for future apartment development for contract prices totaling $ 86.0 million . Increased full - year Net Income per diluted share guidance range to $ 6.39 to $ 6.49 . Provided Net Income guidance range for the fourth quarter of 2021 of $ 0.99 to $ 1.09 per diluted share . 1100 Park Place Suite 200 San Mateo California 94403 telephone 650 655 7800 facsimile 650 655 7810 Raised the midpoint of full - year guidance for same - property revenues and NOI by 0.2 % and 0.3 % respectively . Raised full - year Core FFO per diluted share guidance by $ 0.11 at the midpoint , to $ 12.44 , representing a 2.3 % increase from the midpoint of the Company's original guidance .