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Essex Property Trust, Inc 10-Q Filings

ESS NYSE

Every 10-Q that Essex Property Trust, Inc (ESS) has filed with the SEC in the last 24 months is listed below, newest first, and each one links through to the document itself with the summary and the scores our analysis gives it.

A 10-Q covers the quarterly report filed between annual reports, so if you follow ESS and want that one kind of document rather than the whole filing history, this is the page to keep. The company's other filings, of every form, are on the full ESS filings page.

Rhea-AI Summary

Essex Property Trust, Inc. and its Operating Partnership reported higher recurring revenues but much lower earnings for the three and six months ended June 30, 2026. Total revenues were $489.0 million for the quarter and $973.8 million year-to-date, up from $469.8 million and $934.4 million in 2025, driven by rental growth across Southern California, Northern California and Seattle Metro.

Quarterly net income was $66.9 million versus $231.5 million a year earlier, and $179.1 million year-to-date versus $444.3 million, primarily reflecting much smaller gains on sale of real estate and land ($2.0 million versus $126.2 million for the quarter). Same-property rental and other property revenues increased to $446.0 million from $434.4 million for the quarter. Operating cash flow strengthened to $541.2 million for the first six months of 2026 from $497.6 million.

At June 30, 2026, total assets were $12.9 billion and total debt, net, was $6.7 billion, including $5.6 billion of unsecured debt and $345.0 million of commercial paper. Essex owned interests in 258 operating apartment communities totaling 62,881 apartment homes and held a 96.7% interest in the Operating Partnership, with 2,183,943 OP Units outstanding.

Rhea-AI Summary

Essex Property Trust, Inc. and Essex Portfolio, L.P. reported higher first‑quarter 2026 revenues but lower earnings versus a year ago. Total revenues rose to about $484.8 million from $464.6 million, driven by 2.9% growth in same‑property revenues as average same‑property financial occupancy reached 96.5%.

Net income fell to $112.2 million from $212.8 million, mainly because 2025 included a $111.0 million gain on the sale of the Highridge community, while there were no comparable sales in 2026. Operating expenses rose modestly, and interest expense increased with new unsecured notes and a $300.0 million term loan added in 2025.

The company continued capital deployment: it funded a $59.5 million related‑party bridge loan to co‑investment Wesco V at 5.00% interest, and repurchased 205,740 common shares for $50.2 million at an average price of $244.06. Total debt stood at about $6.8 billion, while unrestricted and restricted cash totaled $47.4 million at quarter end. Essex maintained a quarterly common dividend of $2.59 per share, paying roughly $166.6 million.

Rhea-AI Summary

Essex Property Trust (ESS) reported higher Q3 2025 results. Rental and other property revenues were $470.9 million, up from $448.1 million a year ago. A $62.3 million gain on sale of real estate helped lift earnings despite higher interest expense. Net income available to common stockholders was $164.6 million, and diluted EPS was $2.56 versus $1.84 last year.

For the first nine months, revenues reached $1.401 billion versus $1.320 billion, with net income to common of $589.1 million and EPS of $9.15, aided by $299.5 million of gains on sales. Cash from operating activities was $840.2 million. The company invested in acquisitions and development, offset by $509.9 million of disposition proceeds.

At September 30, total assets were $13.15 billion. Unsecured debt was $5.62 billion, mortgage notes $795.4 million, and lines of credit and commercial paper $245.0 million. The quarterly dividend was $2.57 per share. Shares outstanding were 64,404,022 as of October 23, 2025. The portfolio included 257 operating apartment communities with 62,451 homes across Southern and Northern California and the Seattle metro.