Essex Property Company profile
About Essex Property Trust Inc
Essex Property Trust, Inc. is a self-administered and self-managed real estate investment trust. The Company is engaged primarily in the ownership, operation, management, acquisition, development and redevelopment of predominantly apartment communities, located along the West Coast. Its segments include Southern California, Northern California, Seattle Metro and Other real estate assets. The Company owns all of its interest in its real estate and other investments directly or indirectly through Essex Portfolio, L.P. The Company owns ownership interests in approximately 246 operating apartment communities, aggregating 60,799 apartment homes. Its operating apartment communities are located in Southern California, primarily Los Angeles, Orange, San Diego, and Ventura counties; Northern California, the San Francisco Bay Area; and the Seattle metropolitan areas.
Financial summary
BRIEF: For the fiscal year ended 31 December 2021, Essex Property Trust Inc revenues decreased 4% to $1.44B. Net income decreased 14% to $488.6M. Revenues reflect Other real estate assets segment decrease of 68% to $19.2M, Northern California segment decrease of 4% to $584M. Net income also reflects Northern California segment income decrease of 8% to $401.9M, Seattle Metro segment income decrease of 4% to $161M.
Equity composition
Common Stock $.0001 Par, 05/11, 650M auth., 32,588,240 issd., Insiders own 1.45%. IPO 6/94, 6.275M shs @ $19.50 by Merrill Lynch (ML). PO 8/96, 2.2M shs @ $22.75 by ML. PO 12/96, 2.45M shs @ $27.75 by ML. PO 12/97, 1.5M shs @ $35.50 by ML. 7.8125% Series F Redeemable Preferred Stock, 1M auth., 1M issd.
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