| ESS |
Report |
Q2 2026 Core FFO per diluted share |
BEAT |
pred ~$4.03 vs. cons $3.98 |
MEDIUM |
| ESS |
Report |
Q2 2026 Same-Property Revenue Growth (YoY%) |
BEAT |
pred ~3.2% vs. cons 2.7% |
MEDIUM |
| ESS |
Report |
Q2 2026 Same-Property NOI Growth (YoY%) |
BEAT |
pred ~3.6% vs. cons 3.0% |
MEDIUM |
| ESS |
Guide |
FY2026 Core FFO per diluted share guidance (midpoint) |
BETTER |
guide ~$16.07 vs. cons $15.96 (FY2026) |
MEDIUM |
| ESS |
Guide |
FY2026 Same-Property Revenue Growth guidance (midpoint) |
BETTER |
guide ~2.70% vs. cons 2.45% (FY2026) |
MEDIUM |
| ESS |
Guide |
FY2026 Same-Property NOI Growth guidance (midpoint) |
BETTER |
guide ~2.60% vs. cons 2.20% (FY2026) |
MEDIUM |
| ESS |
Guide |
Q3 2026 Core FFO per diluted share guidance |
BETTER |
guide ~$4.06 vs. cons $4.02 (Q3 2026) |
LOW |
| ESS |
Return |
Day-1 residual (stock − beta × S&P 500) |
+0.6% |
— |
MEDIUM |
| ESS |
Return |
5-day cumulative residual |
-0.4% (FADE) |
Beat-and-raise is largely pre-signaled by the accelerating blended lease disclosures (1.4%→3.1%→3.7%) already shared at REITweek, so the incremental information content is modest and mostly known to sophisticated holders; sector precedent (UDR beat/raised yet sold off) shows execution alone isn't enough once expectations are elevated after ESS's ~15% run since Q1. Out-period math is only mildly supportive: the raise mostly reflects known H1 strength plus the pulled-forward $90M redemption being a non-recurring FFO drag that's now behind, not a structural re-rating of 2027 NOI growth, while LA/Seattle still need to prove sustained inflection. Expect the initial pop to partially fade over the week as sell-side nudges 2026 numbers up modestly but leaves 2027 estimates largely unchanged, capping follow-through. |
MEDIUM |