ESSEX PROPERTY TRUST INC
For the period ended Mar 31, 2024. Filed May 1, 2024.
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A company's report for each of its first three quarters. The financial statements are not audited. It shows how the business has moved since the last annual report, and what management says changed.
Mar 31, 2024 · Filed May 1, 2024
ESS$272.18+0.3%Stored close · as of Nov 6, 2026
Contents
Item 1. Condensed Consolidated Balance Sheets as of March 31, 2024 and December 31,
Condensed Consolidated Balance Sheets
(In thousands, except parenthetical and share amounts)
| ASSETS | March 31, 2024 | December 31, 2023 |
|---|---|---|
| Real estate: | ||
| Rental properties: | ||
| Land and land improvements | $3,138,093 | $3,036,912 |
| Buildings and improvements | 13,535,431 | 13,098,311 |
| 16,673,524 | 16,135,223 | |
| Less: accumulated depreciation | (5,803,797) | (5,664,931) |
| 10,869,727 | 10,470,292 | |
| Real estate under development | 24,631 | 23,724 |
| Co-investments | 1,062,575 | 1,061,733 |
| 11,956,933 | 11,555,749 | |
| Cash and cash equivalents-unrestricted | 499,036 | 391,749 |
| Cash and cash equivalents-restricted | 8,834 | 8,585 |
| Marketable securities, net of allowance for credit losses of zero as of both March 31, 2024 and December 31, 2023 | 91,295 | 87,795 |
| Notes and other receivables, net of allowance for credit losses of $0.7 million as of both March 31, 2024 and December 31, 2023, respectively (includes related party receivables of $5.9 million and $6.1 million as of March 31, 2024 and December 31, 2023, respectively) | 183,040 | 174,621 |
| Operating lease right-of-use assets | 62,858 | 63,757 |
| Prepaid expenses and other assets | 83,189 | 79,171 |
| Total assets | $12,885,185 | $12,361,427 |
| LIABILITIES AND EQUITY | ||
| Unsecured debt, net | $5,666,604 | $5,318,531 |
| Mortgage notes payable, net | 886,388 | 887,204 |
| Accounts payable and accrued liabilities | 216,536 | 176,401 |
| Construction payable | 18,280 | 20,659 |
| Dividends payable | 165,208 | 155,695 |
| Distributions in excess of investments in co-investments | 63,806 | 65,488 |
| Operating lease liabilities | 64,097 | 65,091 |
| Other liabilities | 48,321 | 46,175 |
| Total liabilities | 7,129,240 | 6,735,244 |
| Commitments and contingencies | ||
| Redeemable noncontrolling interest | 32,192 | 32,205 |
| Equity: | ||
| Common stock; $0.0001 par value, 670,000,000 shares authorized; 64,209,059 and 64,203,497 shares issued and outstanding, respectively | 6 | 6 |
| Additional paid-in capital | 6,658,882 | 6,656,720 |
| Distributions in excess of accumulated earnings | (1,152,136) | (1,267,536) |
| Accumulated other comprehensive income, net | 41,279 | 33,556 |
| Total stockholders' equity | 5,548,031 | 5,422,746 |
| Noncontrolling interest | 175,722 | 171,232 |
| Total equity | 5,723,753 | 5,593,978 |
| Total liabilities and equity | $12,885,185 | $12,361,427 |
The text of this filing, as the company filed it with the SEC, without its images or exhibits. This is not investment advice.