Essex Property Trust, Inc. Q1 adjusted earnings Beat Estimates

(RTTNews) - Essex Property Trust, Inc. (ESS) reported a profit for first quarter that fell from the same period last year.

The company's bottom line came in at $168.44 million, or $2.59 per share. This compares with $315.01 million, or $4.76 per share, in last year's first quarter.

Excluding items, Essex Property Trust, Inc. reported adjusted earnings of $206.61 million or $3.07 per share for the period.

Analysts had expected the company to earn $0.96 per share, according to figures compiled by Thomson Reuters. Analysts' estimates typically exclude special items.

Essex Property Trust, Inc. earnings at a glance:

-Earnings (Q1): $206.61 Mln. vs. $238.00 Mln. last year. -EPS (Q1): $3.07 vs. $3.48 last year. -Analysts Estimate: $0.96