Essex Property Trust ( ESS - Free Report ) came out with quarterly funds from operations (FFO) of $3.15 per share, missing the Zacks Consensus Estimate of $3.16 per share. This compares to FFO of $3.35 per share a year ago. These figures are adjusted for non-recurring items. This quarterly report represents an FFO surprise of -0.32%. A quarter ago, it was expected that this real estate investment trust would post FFO of $3.30 per share when it actually produced FFO of $3.16, delivering a surprise of -4.24%.