Essex Property Trust Inc's income statement, balance sheet and cash flow statement as filed with the SEC (10-K and 10-Q), with the latest fiscal years and quarters. In its latest fiscal year (Dec 31, 2025 · FY), Essex Property Trust Inc reported revenue of $1.9B (+6.4% year on year) and net income of $702.8M (-13.4% year on year).
| Line item | Dec 31, 2025 · FY | Dec 31, 2024 · FY | Dec 31, 2023 · FY | Dec 31, 2022 · FY |
|---|---|---|---|---|
| Rental and other property | $1.9B | $1.8B | $1.7B | $1.6B |
| Management and other fees from affiliates | $9.4M | $10.3M | $11.1M | $11.1M |
| Total revenues | $1.9B | $1.8B | $1.7B | $1.6B |
| Property operating, excluding real estate taxes | $353.4M | $326.1M | $299.7M | $283.4M |
| Real estate taxes | $205.6M | $193.4M | $185.8M | $183.9M |
| Corporate-level property management expenses | $49.1M | $48.2M | $45.9M | $40.7M |
| Depreciation and amortization | $607.5M | $580.2M | $548.4M | $539.3M |
| General and administrative | $71.9M | $98.9M | $63.5M | $56.6M |
| Expensed acquisition and investment related costs | $25.0K | $72.0K | $595.0K | $2.1M |
| Casualty loss | $0 | $0 | $433.0K | — |
| Total expenses | $1.3B | $1.2B | $1.1B | $1.1B |
| Gain on sale of real estate and land | $299.5M | $175.6M | $59.2M | $94.4M |
| Earnings from operations | $899.3M | $703.1M | $584.3M | $595.2M |
| Interest expense | ($258.4M) | ($235.5M) | ($212.9M) | ($204.8M) |
| Total return swap income | $4.7M | $3.1M | $3.1M | $7.9M |
| Interest and other income | $20.0M | $81.0M | $46.3M | ($19.0M) |
| Equity income from co-investments | $35.5M | $48.2M | $10.6M | $26.0M |
| Tax benefit (expense) on unconsolidated co-investments | $2.1M | $929.0K | ($697.0K) | $10.2M |
| Loss on early retirement of debt | ($762.0K) | $0 | $0 | ($2.0K) |
| Gain on remeasurement of co-investment | $330.0K | $210.6M | $0 | $17.4M |
| Net income | $702.8M | $811.3M | $430.7M | $433.0M |
| Net income attributable to noncontrolling interest | ($33.1M) | ($69.8M) | ($24.9M) | ($24.7M) |
| Net income available to common stockholders | $669.7M | $741.5M | $405.8M | $408.3M |
| Weighted average number of shares outstanding during the year (in shares) | 64.4M | 64.2M | 64.3M | 65.1M |
| Net income available to common stockholders (in dollars per share) | $10.40 | $11.55 | $6.32 | $6.27 |
| Weighted average number of shares outstanding during the year (in shares) | 64.4M | 64.3M | 64.3M | 65.1M |
| Line item | Jun 30, 2026 · Q2 | Mar 31, 2026 · Q1 | Sep 30, 2025 · Q3 | Jun 30, 2025 · Q2 |
|---|---|---|---|---|
| Rental and other property | $486.7M | $482.4M | $470.9M | $467.6M |
| Management and other fees from affiliates | $2.3M | $2.3M | $2.4M | $2.2M |
| Total revenues | $489.0M | $484.8M | $473.3M | $469.8M |
| Property operating, excluding real estate taxes | $89.6M | $89.1M | $91.4M | $86.4M |
| Real estate taxes | $51.4M | $52.1M | $52.0M | $49.0M |
| Corporate-level property management expenses | $13.4M | $13.4M | $12.2M | $12.2M |
| Depreciation and amortization | $154.1M | $154.9M | $151.5M | $151.5M |
| General and administrative | $73.1M | $20.0M | $18.1M | $17.2M |
| Total expenses | $381.7M | $329.6M | $325.2M | $316.3M |
| Gain on sale of real estate and land | $2.0M | $0 | $62.3M | $126.2M |
| Earnings from operations | $109.4M | $155.2M | $210.4M | $279.7M |
| Interest expense | ($66.8M) | ($65.6M) | ($64.7M) | ($65.3M) |
| Total return swap income | $1.2M | $1.5M | $1.3M | $1.1M |
| Interest and other income | $9.1M | $1.0M | $5.9M | $6.8M |
| Equity income from co-investments | $13.7M | $23.6M | $17.8M | $9.0M |
| Tax benefit (expense) on unconsolidated technology co-investments | $363.0K | ($3.6M) | $2.0M | $232.0K |
| Loss on early retirement of debt | $0 | $0 | $0 | $0 |
| Gain on remeasurement of co-investment | $0 | $0 | $0 | $0 |
| Net income (loss) | $66.9M | $112.2M | $172.7M | $231.5M |
| Net income attributable to noncontrolling interest | ($4.5M) | ($6.0M) | ($8.1M) | ($10.2M) |
| Net income available to common stockholders | $62.5M | $106.2M | $164.6M | $221.4M |
| Comprehensive income | $70.0M | $112.3M | $168.8M | $227.4M |
| Comprehensive income attributable to noncontrolling interest | ($4.6M) | ($6.0M) | ($8.0M) | ($10.0M) |
| Comprehensive income attributable to controlling interest | $65.4M | $106.3M | $160.8M | $217.4M |
| Weighted average number of shares outstanding during the period (in shares) | 64.3M | 64.5M | 64.4M | 64.4M |
| Net income available to common stockholders (in dollars per share) | $0.97 | $1.65 | $2.56 | $3.44 |
| Weighted average number of shares outstanding during the period (in shares) | 64.3M | 64.5M | 64.4M | 64.4M |
| Line item | Dec 31, 2025 · FY | Dec 31, 2024 · FY | Dec 31, 2023 · FY | Dec 31, 2022 · FY |
|---|---|---|---|---|
| Land and land improvements | $3.4B | $3.2B | $3.0B | $3.0B |
| Buildings and improvements | $15.1B | $14.3B | $13.1B | $12.9B |
| Total rental properties | $18.4B | $17.6B | $16.1B | $16.0B |
| Less: accumulated depreciation | ($6.5B) | ($6.2B) | ($5.7B) | ($5.2B) |
| Net real estate | $11.9B | $11.4B | $10.5B | $10.8B |
| Real estate under development | $157.1M | $52.7M | $23.7M | $24.9M |
| Co-investments | $630.5M | $935.0M | $1.1B | $1.1B |
| Total real estate | $12.7B | $12.4B | $11.6B | $12.0B |
| Cash and cash equivalents-unrestricted | $76.2M | $66.8M | $391.7M | $33.3M |
| Cash and cash equivalents-restricted | $9.3M | $9.1M | $8.6M | $9.4M |
| Marketable securities | $98.1M | $69.8M | $87.8M | — |
| Notes and other receivables, net of allowance for credit losses of $0.6 million and $0.5 million as of December 31, 2025 and December 31, 2024, respectively | $141.6M | $206.7M | $174.6M | $103.0M |
| Operating lease right-of-use assets | $50.8M | $51.6M | $63.8M | $67.2M |
| Prepaid expenses and other assets | $90.7M | $96.9M | $79.2M | $80.8M |
| Total assets | $13.2B | $12.9B | $12.4B | $12.4B |
| Unsecured debt, net | $6.0B | $5.5B | $5.3B | $5.3B |
| Mortgage notes payable, net | $784.3M | $989.9M | $887.2M | $593.9M |
| Lines of credit and commercial paper | $0 | — | — | — |
| Accounts payable and accrued liabilities | $221.4M | $212.7M | $176.4M | $165.5M |
| Construction payable | $24.7M | $14.3M | $20.7M | $23.2M |
| Dividends payable | $173.7M | $165.4M | $155.7M | $149.2M |
| Distributions in excess of investments in co-investments | $98.8M | $79.3M | $65.5M | $42.5M |
| Operating lease liabilities | $51.5M | $52.5M | $65.1M | $68.7M |
| Other liabilities | $51.7M | $50.2M | $46.2M | $43.4M |
| Total liabilities | $7.4B | $7.2B | $6.7B | $6.5B |
| Redeemable noncontrolling interest | $28.3M | $30.8M | $32.2M | $27.1M |
| Common stock; $0.0001 par value, 670,000,000 shares authorized; 64,442,290 and 64,280,466 shares issued and outstanding, respectively | 6.0K | 6.0K | 6.0K | 6.0K |
| Additional paid-in capital | $6.7B | $6.7B | $6.7B | $6.8B |
| Distributions in excess of accumulated earnings | ($1.1B) | ($1.2B) | ($1.3B) | ($1.1B) |
| Accumulated other comprehensive income, net | $6.0M | $24.7M | $33.6M | $46.5M |
| Total stockholders’ equity | $5.5B | $5.5B | $5.4B | $5.7B |
| Noncontrolling interest | $167.3M | $183.3M | $171.2M | $178.7M |
| Total equity | $5.7B | $5.7B | $5.6B | $5.9B |
| Total liabilities and equity | $13.2B | $12.9B | $12.4B | $12.4B |
| Line item | Jun 30, 2026 | Mar 31, 2026 | Sep 30, 2025 | Jun 30, 2025 |
|---|---|---|---|---|
| Land and land improvements | $3.4B | $3.4B | $3.3B | $3.3B |
| Buildings and improvements | $15.2B | $15.1B | $14.7B | $14.7B |
| Total rental properties | $18.5B | $18.5B | $18.1B | $18.0B |
| Less: accumulated depreciation | ($6.8B) | ($6.7B) | ($6.4B) | ($6.3B) |
| Net real estate | $11.7B | $11.8B | $11.7B | $11.7B |
| Real estate under development | $184.1M | $159.5M | $139.2M | $105.6M |
| Co-investments | $612.5M | $649.3M | $808.2M | $895.8M |
| Total real estate | $12.5B | $12.6B | $12.6B | $12.8B |
| Cash and cash equivalents-unrestricted | $58.3M | $38.0M | $66.0M | $58.7M |
| Cash and cash equivalents-restricted | $8.0M | $9.4M | $9.3M | $9.2M |
| Marketable securities | $92.2M | $96.5M | $84.1M | $82.2M |
| Notes and other receivables, net of allowance for credit losses of $0.3 million and $0.6 million as of June 30, 2026 and December 31, 2025, respectively | $96.3M | $202.0M | $221.6M | $138.1M |
| Operating lease right-of-use assets | $49.1M | $50.0M | $51.7M | $52.5M |
| Prepaid expenses and other assets | $100.2M | $90.5M | $80.9M | $82.2M |
| Total assets | $12.9B | $13.1B | $13.2B | $13.2B |
| Unsecured debt, net | $5.6B | $6.0B | $5.6B | $5.5B |
| Mortgage notes payable, net | $784.2M | $784.3M | $795.4M | $874.5M |
| Lines of credit and commercial paper | $345.0M | $4.7M | $245.0M | $365.0M |
| Accounts payable and accrued liabilities | $270.4M | $254.8M | $250.7M | $188.7M |
| Construction payable | $33.3M | $31.2M | $33.5M | $27.1M |
| Dividends payable | $174.5M | $174.6M | $173.8M | $173.7M |
| Distributions in excess of investments in co-investments | $107.9M | $99.3M | $95.9M | $89.4M |
| Operating lease liabilities | $49.8M | $50.5M | $52.4M | $53.3M |
| Other liabilities | $51.1M | $51.4M | $50.8M | $50.8M |
| Total liabilities | $7.4B | $7.5B | $7.3B | $7.3B |
| Redeemable noncontrolling interest | $27.4M | $25.8M | $29.7M | $32.9M |
| Common stock; $0.0001 par value, 670,000,000 shares authorized; 64,268,177 and 64,442,290 shares issued and outstanding, respectively | 6.0K | 6.0K | 6.0K | 6.0K |
| Additional paid-in capital | $6.6B | $6.6B | $6.7B | $6.7B |
| Distributions in excess of accumulated earnings | ($1.3B) | ($1.2B) | ($1.1B) | ($1.1B) |
| Accumulated other comprehensive income, net | $9.1M | $6.2M | $7.9M | $11.7M |
| Total stockholders’ equity | $5.3B | $5.4B | $5.6B | $5.6B |
| Noncontrolling interest | $162.4M | $165.8M | $170.2M | $170.7M |
| Total equity | $5.5B | $5.6B | $5.8B | $5.8B |
| Total liabilities and equity | $12.9B | $13.1B | $13.2B | $13.2B |
| Line item | Dec 31, 2025 · FY | Dec 31, 2024 · FY | Dec 31, 2023 · FY | Dec 31, 2022 · FY |
|---|---|---|---|---|
| Net income | $702.8M | $811.3M | $430.7M | $433.0M |
| Straight-lined rents | ($1.1M) | $34.0K | $2.8M | $3.3M |
| Depreciation and amortization | $607.5M | $580.2M | $548.4M | $539.3M |
| Amortization of discount and debt financing costs, net | $7.2M | $7.8M | $6.9M | $6.7M |
| Realized and unrealized gains on marketable securities, net | ($3.8M) | — | — | — |
| Provision for credit losses | $26.0K | ($179.0K) | $70.0K | $381.0K |
| Company’s share of gain on the sales of co-investment | ($5.2M) | — | — | $0 |
| Equity income from co-investments | ($30.3M) | ($48.2M) | ($10.6M) | ($26.0M) |
| Operating distributions from co-investments | $93.0M | $62.9M | $76.8M | $95.3M |
| Accrued interest from notes and other receivables | ($9.2M) | ($13.5M) | ($12.6M) | ($14.0M) |
| Casualty loss | $0 | $0 | $433.0K | — |
| Gain on the sale of real estate and land | ($299.5M) | ($175.6M) | ($59.2M) | ($94.4M) |
| Equity-based compensation | $9.6M | $7.2M | $8.0M | $7.2M |
| Loss on early retirement of debt | $762.0K | $0 | $0 | $2.0K |
| Gain on remeasurement of co-investment | ($330.0K) | ($210.6M) | $0 | ($17.4M) |
| Prepaid expenses, receivables, operating lease right-of-use assets, and other assets | ($2.0M) | $32.0M | ($9.7M) | $5.2M |
| Accounts payable, accrued liabilities, and operating lease liabilities | $7.2M | $25.2M | $5.3M | ($17.3M) |
| Other liabilities | ($2.3M) | ($1.9M) | $2.7M | $9.6M |
| Net cash provided by operating activities | $1.1B | $1.1B | $980.1M | $975.6M |
| Acquisitions of real estate and acquisition related capital expenditures, net of cash acquired | ($831.7M) | ($940.4M) | ($25.1M) | ($21.9M) |
| Redevelopment | ($81.6M) | ($70.6M) | ($72.6M) | ($96.7M) |
| Development acquisitions of and additions to real estate under development | ($61.9M) | ($2.9M) | ($7.9M) | ($27.7M) |
| Capital expenditures on rental properties | ($140.3M) | ($136.4M) | ($140.4M) | ($163.2M) |
| Investments in notes receivable | ($169.6M) | ($130.6M) | ($58.1M) | ($168.1M) |
| Collections of notes and other receivables | $84.8M | $33.5M | $0 | $412.0M |
| Proceeds from insurance for property losses | $3.5M | $2.3M | $3.4M | $4.3M |
| Proceeds from dispositions of real estate | $509.9M | $247.3M | $99.4M | $158.0M |
| Contributions to co-investments | ($33.8M) | ($34.1M) | ($37.4M) | ($163.2M) |
| Changes in refundable deposits | $8.0M | ($8.0M) | $10.2M | ($16.3M) |
| Purchases of marketable securities | ($25.5M) | ($1.0M) | ($20.8M) | ($18.1M) |
| Sales and maturities of marketable securities | $1.3M | $27.3M | $64.3M | $71.2M |
| Non-operating distributions from co-investments | $184.4M | $40.5M | $39.8M | $175.6M |
| Net cash used in investing activities | ($552.5M) | ($973.1M) | ($145.1M) | $146.0M |
| Proceeds from unsecured debt and mortgage notes | $1.1B | $554.9M | $598.0M | $0 |
| Payments on unsecured debt and mortgage notes | ($808.6M) | ($403.1M) | ($302.4M) | ($64.5M) |
| Proceeds from lines of credit and commercial paper | $7.9B | — | — | — |
| Repayments of lines of credit and commercial paper | ($8.1B) | — | — | — |
| Retirement of common stock | $0 | $0 | ($95.7M) | ($189.7M) |
| Additions to deferred charges | ($13.4M) | ($9.6M) | ($1.7M) | ($2.6M) |
| Payments related to debt prepayment penalties | ($697.0K) | — | $0 | $0 |
| Net costs from issuance of common stock | ($391.0K) | ($296.0K) | ($347.0K) | ($314.0K) |
| Net proceeds from stock options exercised | $8.9M | $12.3M | $0 | $19.5M |
| Payments related to tax withholding for share-based compensation | ($8.1M) | ($3.2M) | ($3.8M) | ($2.2M) |
| Distributions to noncontrolling interest | ($32.7M) | ($81.2M) | ($31.6M) | ($30.7M) |
| Redemptions of noncontrolling interest | ($13.5M) | ($6.5M) | ($609.0K) | ($11.5M) |
| Line item | Jun 30, 2026 · YTD | Mar 31, 2026 · Q1 | Sep 30, 2025 · YTD | Jun 30, 2025 · YTD |
|---|---|---|---|---|
| Net income | $179.1M | $112.2M | $617.0M | $444.3M |
| Straight-lined rents | $393.0K | $175.0K | $3.1M | $332.0K |
| Depreciation and amortization | $309.0M | $154.9M | $454.3M | $302.8M |
| Amortization of discount and debt financing costs, net | $5.2M | $2.7M | $4.6M | $2.3M |
| Realized and unrealized gains on marketable securities, net | ($4.0M) | $1.7M | ($4.1M) | ($2.4M) |
| Provision for credit losses | ($222.0K) | $34.0K | $61.0K | $11.0K |
| Company’s share of gain on the sales of co-investments | ($9.2M) | — | ($5.2M) | — |
| Equity income from co-investments | ($28.1M) | ($23.6M) | ($34.8M) | ($22.2M) |
| Operating distributions from co-investments | $30.3M | $5.0M | $64.1M | $29.4M |
| Accrued interest from notes and other receivables | ($1.7M) | ($1.3M) | ($7.9M) | ($5.2M) |
| Gain on the sale of real estate and land | ($2.0M) | $0 | ($299.5M) | ($237.2M) |
| Equity-based compensation | $5.5M | $2.6M | $6.7M | $4.2M |
| Loss on early retirement of debt | $0 | $0 | $762.0K | $762.0K |
| Gain on remeasurement of co-investment | $0 | $0 | ($330.0K) | ($330.0K) |
| Prepaid expenses, receivables, operating lease right-of-use assets and other assets | $8.2M | $574.0K | $3.2M | $2.0M |
| Accounts payable, accrued liabilities and operating lease liabilities | $49.4M | $32.5M | $40.6M | ($19.4M) |
| Other liabilities | ($637.0K) | ($378.0K) | ($2.3M) | ($1.7M) |
| Net cash provided by operating activities | $541.2M | $287.2M | $840.2M | $497.6M |
| Acquisitions of real estate and acquisition related capital expenditures, net of cash acquired | ($3.9M) | ($2.1M) | ($686.7M) | ($585.1M) |
| Redevelopment | ($23.2M) | ($8.9M) | ($57.2M) | ($30.3M) |
| Development acquisitions of and additions to real estate under development | ($39.8M) | ($14.1M) | ($44.1M) | ($16.4M) |
| Capital expenditures on rental properties | ($51.3M) | ($19.8M) | ($100.8M) | ($64.5M) |
| Investments in notes receivable | ($59.5M) | ($59.5M) | ($81.5M) | ($281.0K) |
| Collections of notes and other receivables | $91.6M | $0 | $3.1M | $3.1M |
| Proceeds from insurance for property losses | $2.0M | $938.0K | $2.6M | $1.9M |
| Proceeds from dispositions of real estate | $2.0M | $0 | $509.9M | $364.2M |
| Contributions to co-investments | ($1.4M) | ($1.3M) | ($31.0M) | ($8.7M) |
| Changes in refundable deposits | $0 | $0 | $8.0M | $8.0M |
| Purchases of marketable securities | ($14.3M) | ($10.3M) | ($10.5M) | ($10.1M) |
| Sales and maturities of marketable securities | $23.9M | $9.9M | $408.0K | $188.0K |
| Non-operating distributions from co-investments | $31.3M | $0 | $114.0M | $18.0M |
| Net cash used in investing activities | ($42.6M) | ($105.2M) | ($373.8M) | ($320.1M) |
| Proceeds from unsecured debt and mortgage notes | $0 | $0 | $751.4M | $548.4M |
| Payments on unsecured debt and mortgage notes | ($450.5M) | ($270.0K) | ($797.3M) | ($615.5M) |
| Proceeds from lines of credit and commercial paper | $3.6B | $217.7M | $5.0B | $2.4B |
| Repayments of lines of credit and commercial paper | ($3.2B) | ($213.1M) | ($4.9B) | ($2.2B) |
| Retirement of common stock | ($61.9M) | ($50.2M) | — | — |
| Additions to deferred charges | ($576.0K) | ($455.0K) | ($9.2M) | ($5.4M) |
| Payments related to debt prepayment penalties | $0 | $0 | ($697.0K) | ($697.0K) |
| Net costs from issuance of common stock | ($59.0K) | — | ($280.0K) | ($101.0K) |
| Net proceeds from stock options exercised | $898.0K | $586.0K | $8.9M | $8.9M |
| Payments related to tax withholding for share-based compensation | ($805.0K) | ($805.0K) | ($560.0K) | ($519.0K) |
| Distributions to noncontrolling interest | ($16.1M) | ($8.1M) | ($24.4M) | ($16.2M) |
| Redemption of noncontrolling interest | ($1.6M) | $0 | ($13.5M) | ($8.6M) |
| Common stock dividends paid | ($332.2M) | ($165.6M) | ($488.5M) | ($322.9M) |
Essex Property Trust Inc score and earnings-call analysis · All covered companies
Figures as reported in SEC filings. General information, not investment advice.