Essex Property Trust, Inc. Bottom Line Falls In Q1, misses estimates

(RTTNews) - Essex Property Trust, Inc. (ESS) announced a profit for first quarter that decreased from last year and missed the Street estimates.

The company's earnings totaled $73.25 million, or $1.12 per share. This compares with $168.44 million, or $2.59 per share, in last year's first quarter.

Analysts on average had expected the company to earn $1.21 per share, according to figures compiled by Thomson Reuters. Analysts' estimates typically exclude special items.

Essex Property Trust, Inc. earnings at a glance (GAAP) :

-Earnings (Q1): $73.25 Mln. vs. $168.44 Mln. last year. -EPS (Q1): $1.12 vs. $2.59 last year. -Analyst Estimates: $1.21

-Guidance: Full year EPS guidance: $4.79 to $5.15