ESSEX PROPERTY TRUST, INC.
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| Metric | Q1 2026 | Q1 2025 | YoY |
|---|---|---|---|
| Revenue (Q) | — | — | — |
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| Revenue | 2,313 | 2,494 | -7.3% |
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| Essex Portfolio L.P. | 2,313 | 2,494 | -7.3% |
| Revenue (Q) | — | — | — |
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| Revenue | 484,756 | 464,583 | +4.3% |
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| Essex Portfolio L.P. | 484,756 | 464,583 | +4.3% |
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| Equity Method Investment Nonconsolidated Investee Or Group Of Investees | 75,055 | 86,306 | -13.0% |
| Cost of Revenue (Q) | — | — | — |
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| Equity Method Investment Nonconsolidated Investee Or Group Of Investees | 28,884 | 32,702 | -11.7% |
| Total Costs & Expenses (Q) | — | — | — |
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| Total Costs & Expenses | 329,563 | 318,532 | +3.5% |
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| Essex Portfolio L.P. | 329,563 | 318,532 | +3.5% |
| Gross Profit (Q) | — | — | — |
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| Northern California · Operating Segments | 141,271 | 124,770 | +13.2% |
| Seattle Metro · Operating Segments | 55,941 | 53,312 | +4.9% |
| Southern California · Operating Segments | 137,683 | 133,992 | +2.8% |
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| Gross Profit | 341,187 | 323,468 | +5.5% |
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| Corporate Non Segment | 6,292 | 11,394 | -44.8% |
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| Equity Method Investment Nonconsolidated Investee Or Group Of Investees | 46,171 | 53,604 | -13.9% |
| General & Administrative (Q) | — | — | — |
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| General & Administrative | 20,014 | 16,292 | +22.8% |
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| Essex Portfolio L.P. | 20,014 | 16,292 | +22.8% |
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| Equity Method Investment Nonconsolidated Investee Or Group Of Investees | 3,920 | 4,206 | -6.8% |
| Operating Income (Q) | — | — | — |
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| Operating Income | 155,193 | 257,081 | -39.6% |
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| Essex Portfolio L.P. | 155,193 | 257,081 | -39.6% |
| Interest Expense (Q) | — | — | — |
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| Interest Expense | 65,564 | 62,732 | +4.5% |
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| Essex Portfolio L.P. | 65,564 | 62,732 | +4.5% |
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| Equity Method Investment Nonconsolidated Investee Or Group Of Investees | 19,960 | 27,301 | -26.9% |
| Net Income (Q) | — | — | — |
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| Accumulated Distributions In Excess Of Net Income | 106,186 | 203,110 | -47.7% |
| Noncontrolling Interest | 6,022 | 9,668 | -37.7% |
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| Net Income | 112,208 | 212,778 | -47.3% |
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| Essex Portfolio L.P. | 112,208 | 212,778 | -47.3% |
| Essex Portfolio L.P. · Common Equity | 106,186 | 203,110 | -47.7% |
| Essex Portfolio L.P. · Common Equity | 3,669 | 7,279 | -49.6% |
| Essex Portfolio L.P. · Noncontrolling Interest | 2,353 | 2,389 | -1.5% |
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| Equity Method Investment Nonconsolidated Investee Or Group Of Investees | -5,737 | -14,490 | +60.4% |
| Comprehensive Income (Q) | — | — | — |
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| Comprehensive Income | 106,303 | 194,075 | -45.2% |
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| Essex Portfolio L.P. | 109,976 | 201,034 | -45.3% |
| EPS (Basic) (Q) | — | — | — |
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| EPS (Basic) | 1.65 | 3.16 | -47.8% |
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| Essex Portfolio L.P. | 1.65 | 3.16 | -47.8% |
| EPS (Diluted) (Q) | — | — | — |
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| EPS (Diluted) | 1.65 | 3.16 | -47.8% |
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| Essex Portfolio L.P. | 1.65 | 3.16 | -47.8% |
| Wtd Avg Shares (Basic) (Q) | — | — | — |
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| Wtd Avg Shares (Basic) | 64,454,912 | 64,314,899 | +0.2% |
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| Essex Portfolio L.P. | 66,681,908 | 66,621,852 | +0.1% |
| Wtd Avg Shares (Diluted) (Q) | — | — | — |
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| Wtd Avg Shares (Diluted) | 64,461,621 | 64,349,899 | +0.2% |
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| Essex Portfolio L.P. | 66,688,617 | 66,656,852 | 0.0% |
| Depreciation And Amortization (Q) | — | — | — |
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| Depreciation And Amortization | 154,895 | 151,287 | +2.4% |
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| Essex Portfolio L.P. | 154,895 | 151,287 | +2.4% |
| Income Loss From Equity Method Investments (Q) | — | — | — |
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| Income Loss From Equity Method Investments | 23,615 | 13,209 | +78.8% |
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| Essex Portfolio L.P. | 23,615 | 13,209 | +78.8% |
| Net Income Loss Attributable To Noncontrolling Interest (Q) | — | — | — |
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| Net Income Loss Attributable To Noncontrolling Interest | 6,022 | 9,668 | -37.7% |
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| Essex Portfolio L.P. | 2,353 | 2,389 | -1.5% |
| Net Income Loss Available To Common Stockholders Basic (Q) | — | — | — |
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| Net Income Loss Available To Common Stockholders Basic | 106,186 | 203,110 | -47.7% |
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| Essex Portfolio L.P. | 109,855 | 210,389 | -47.8% |
| Operating Lease Lease Income (Q) | — | — | — |
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| Other Property Leasing Revenue | 6,631 | 6,229 | +6.5% |
| Rental | 475,812 | 455,860 | +4.4% |
| Rental And Other Property Revenues | 482,443 | 462,089 | +4.4% |
| Rental And Other Property Revenues · Corporate Non Segment | 6,499 | 15,337 | -57.6% |
| Rental And Other Property Revenues · Northern California | 201,618 | 180,916 | +11.4% |
| Rental And Other Property Revenues · Real Estate Property Acquired | 20,761 | 4,570 | +354.3% |
| Rental And Other Property Revenues · Real Estate Property Non Residential Other Net | 19,225 | 27,898 | -31.1% |
| Rental And Other Property Revenues · Real Estate Property Same Property | 442,572 | 430,009 | +2.9% |
| Rental And Other Property Revenues · Seattle Metro | 79,021 | 77,214 | +2.3% |
| Rental And Other Property Revenues · Southern California | 195,305 | 188,622 | +3.5% |
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| Northern California · Operating Segments | 201,618 | 180,916 | +11.4% |
| Seattle Metro · Operating Segments | 79,021 | 77,214 | +2.3% |
| Southern California · Operating Segments | 195,305 | 188,622 | +3.5% |
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| Operating Lease Lease Income | 482,443 | 462,089 | +4.4% |
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| Essex Portfolio L.P. | 482,443 | 462,089 | +4.4% |
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| Corporate Non Segment | 6,499 | 15,337 | -57.6% |
Balance Sheet
| Metric | Q1 2026 | Q1 2025 | YoY |
|---|---|---|---|
| Current Assets | |||
| Cash & Cash Equivalents (Q) | — | — | — |
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| Cash & Cash Equivalents | 38,005 | 98,735 | -61.5% |
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| Essex Portfolio L.P. | 38,005 | 98,735 | -61.5% |
| Non-Current Assets | |||
| Operating Lease Right-of-Use Assets (Q) | — | — | — |
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| Operating Lease Right-of-Use Assets | 49,957 | 53,351 | -6.4% |
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| Essex Portfolio L.P. | 49,957 | 53,351 | -6.4% |
| Total Assets (Q) | — | — | — |
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| Total Assets | 13,095,487 | 13,186,258 | -0.7% |
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| Essex Portfolio L.P. | 13,095,487 | 13,186,258 | -0.7% |
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| Equity Method Investment Nonconsolidated Investee Or Group Of Investees | 3,452,806 | 4,168,943 | -17.2% |
| Non-Current Liabilities | |||
| Long-Term Debt (Q) | — | — | — |
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| Long-Term Debt | 6,836,802 | 6,822,320 | +0.2% |
| Total Liabilities (Q) | — | — | — |
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| Total Liabilities | 7,468,343 | 7,406,307 | +0.8% |
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| Essex Portfolio L.P. | 7,468,343 | 7,406,307 | +0.8% |
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| Equity Method Investment Nonconsolidated Investee Or Group Of Investees | 2,413,491 | 2,856,849 | -15.5% |
| Stockholders' Equity | |||
| Common Stock (Q) | — | — | — |
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| Common Stock | 6 | 6 | 0.0% |
| Additional Paid-In Capital (Q) | — | — | — |
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| Additional Paid-In Capital | 6,638,007 | 6,672,346 | -0.5% |
| Accumulated Other Comprehensive Income (Q) | — | — | — |
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| Accumulated Other Comprehensive Income | 6,164 | 15,620 | -60.5% |
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| Essex Portfolio L.P. | 10,259 | 20,074 | -48.9% |
| Total Stockholders' Equity (Q) | — | — | — |
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| Total Stockholders' Equity | 5,435,587 | 5,570,001 | -2.4% |
| Total Liabilities & Equity (Q) | — | — | — |
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| Total Liabilities & Equity | 13,095,487 | 13,186,258 | -0.7% |
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| Essex Portfolio L.P. | 13,095,487 | 13,186,258 | -0.7% |
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| Equity Method Investment Nonconsolidated Investee Or Group Of Investees | 3,452,806 | 4,168,943 | -17.2% |
Cash Flow Statement
| Metric | YTD Q1 2026 | YTD Q1 2025 | YoY |
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| Operating Activities | |||
| Stock-Based Compensation (Q) | — | — | — |
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| Stock-Based Compensation | 2,646 | 1,958 | +35.1% |
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| Essex Portfolio L.P. | 2,646 | 1,958 | +35.1% |
| Change in Prepaid & Other Assets (Q) | — | — | — |
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| Change in Prepaid & Other Assets | -574 | -2,996 | +80.8% |
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| Essex Portfolio L.P. | -574 | -2,996 | +80.8% |
| Net Cash from Operations (Q) | — | — | — |
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| Net Cash from Operations | 287,169 | 281,503 | +2.0% |
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| Essex Portfolio L.P. | 287,169 | 281,503 | +2.0% |
| Investing Activities | |||
| Net Cash from Investing (Q) | — | — | — |
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| Net Cash from Investing | -105,153 | -267,313 | +60.7% |
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| Essex Portfolio L.P. | -105,153 | -267,313 | +60.7% |
| Financing Activities | |||
| Share Repurchases (Q) | — | — | — |
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| Share Repurchases | 50,213 | — | — |
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| Essex Portfolio L.P. | 50,213 | — | — |
| Tax Withholding for Share Compensation (Q) | — | — | — |
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| Tax Withholding for Share Compensation | 805 | 519 | +55.1% |
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| Essex Portfolio L.P. | 805 | 519 | +55.1% |
| Net Cash from Financing (Q) | — | — | — |
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| Net Cash from Financing | -220,192 | 17,826 | -1335.2% |
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| Essex Portfolio L.P. | -220,192 | 17,826 | -1335.2% |
| Supplemental | |||
| Interest Paid (Q) | — | — | — |
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| Interest Paid | 60,548 | 61,250 | -1.1% |
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| Essex Portfolio L.P. | 60,548 | 61,250 | -1.1% |
| Other Cash Flow | |||
| Net Change in Cash (Q) | — | — | — |
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| Net Change in Cash | -38,176 | 32,016 | -219.2% |
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| Essex Portfolio L.P. | -38,176 | 32,016 | -219.2% |
Values in thousands USD. Source: SEC EDGAR 10-Q filing.