Essex reported FY 2025 net income available to common stockholders of USD 669.67 million and Funds from Operations (FFO) attributable to common stockholders and unitholders of USD 1.07 billion (FFO per diluted share: USD 15.98). Core FFO was USD 1.06 billion (Core FFO per diluted share: USD 15.94). Rental and other property revenues rose to USD 1.88 billion (+6.4%), including FY 2025 Same-Property revenues of USD 1.64 billion (+3.3%) and Non-Same Property revenues of USD 234.98 million (+35.2%). NOI was USD 1.32 billion and Same-Property NOI was USD 1.15 billion. Interest expense increased to USD 258.4 million (+9.7%), while general and administrative expense fell to USD 71.95 million (-27.3%), driven by lower political advocacy costs. Gain on sale of real estate and land increased to USD 299.52 million (from USD 175.58 million). In operating metrics, Essex’s FY 2025 Same-Property portfolio average financial occupancy was 96.2% (unchanged). The company ended 2025 with USD 76.2 million in unrestricted cash and cash equivalents and USD 98.1 million in marketable securities, and said it expects cash flows, cash balances, marketable securities and credit capacity to be sufficient to meet anticipated 2026 cash needs. Portfolio updates included ownership interests in 259 operating apartment communities (63,077 apartment homes) as of Dec. 31, 2025, and a development pipeline with one consolidated development project with USD 157.12 million of incurred costs and estimated remaining costs of approximately USD 200.88 million (total estimated costs: USD 358 million). Essex also cited FY 2025 acquisitions and consolidations contributing to Non-Same Property revenue growth and dispositions that supported the higher gain on sales.

Disclaimer: This news brief was created by Public Technologies (PUBT) using generative artificial intelligence. While PUBT strives to provide accurate and timely information, this AI-generated content is for informational purposes only and should not be interpreted as financial, investment, or legal advice. Essex Property Trust Inc. published the original content used to generate this news brief via EDGAR, the Electronic Data Gathering, Analysis, and Retrieval system operated by the U.S. Securities and Exchange Commission (Ref. ID: 0000920522-26-000003), on February 20, 2026, and is solely responsible for the information contained therein.