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Quarterly Results of Operations (Unaudited)
 12 Months Ended
Dec. 31, 2014
Quarterly Financial Data [Abstract]  
Quarterly Results of Operations (Unaudited)
Quarterly Results of Operations (Unaudited)

Essex Property Trust, Inc.

The following is a summary of quarterly results of operations for 2014 and 2013 ($ in thousands, except per share and dividend amounts):

 
Quarter ended
December 31
 
Quarter ended
September 30
 
Quarter ended
June 30
 
Quarter ended
March 31
2014 (1):
 
 
 
 
 
 
 
Total property revenues
$
276,209

 
$
268,118

 
$
256,614

 
$
159,017

Income before discontinued operations
$
44,805

 
$
58,582

 
$
4,645

 
$
26,406

Net income
$
44,805

 
$
58,582

 
$
4,645

 
$
26,406

Net income available to common stockholders
$
40,175

 
$
53,565

 
$
1,207

 
$
21,912

Per share data:
 

 
 

 
 

 
 

Net income:
 

 
 

 
 

 
 

Basic (2)
$
0.63

 
$
0.85

 
$
0.02

 
$
0.58

Diluted (2)
$
0.63

 
$
0.85

 
$
0.02

 
$
0.58

Market price:
 

 
 

 
 

 
 

High
$
211.91

 
$
180.65

 
$
185.66

 
$
171.70

Low
$
206.35

 
$
178.27

 
$
183.36

 
$
166.95

Close
$
206.60

 
$
178.75

 
$
184.91

 
$
170.05

Dividends declared
$
1.30

 
$
1.30

 
$
1.30

 
$
1.21

2013:
 

 
 

 
 

 
 

Total property revenues
$
155,986

 
$
152,177

 
$
148,783

 
$
145,057

Income before discontinued operations
$
20,020

 
$
62,718

 
$
28,983

 
$
29,161

Net income
$
36,903

 
$
75,875

 
$
29,575

 
$
29,702

Net income available to common stockholders
$
31,874

 
$
68,788

 
$
24,946

 
$
25,203

Per share data:
 

 
 

 
 

 
 

Net income:
 

 
 

 
 

 
 

Basic (2)
$
0.85

 
$
1.84

 
$
0.67

 
$
0.68

Diluted (2)
$
0.85

 
$
1.84

 
$
0.67

 
$
0.68

Market price:
 

 
 

 
 

 
 

High
$
165.44

 
$
172.16

 
$
171.11

 
$
156.36

Low
$
137.53

 
$
139.64

 
$
147.56

 
$
147.06

Close
$
143.51

 
$
147.70

 
$
158.92

 
$
150.58

Dividends declared
$
1.21

 
$
1.21

 
$
1.21

 
$
1.21


(1)
Includes BRE results of operations after the merger date, April 1, 2014.
(2)
Quarterly earnings per common unit amounts may not total to the annual amounts due to rounding and the changes in the number of weighted common units outstanding and included in the calculation of basic and diluted shares.
.

Essex Portfolio, L.P.

The following is a summary of quarterly results of operations for 2014 and 2013 ($ in thousands, except per unit and distribution amounts):
 
Quarter ended
December 31
 
Quarter ended
September 30
 
Quarter ended
June 30
 
Quarter ended
March 31
2014 (1):
 
 
 
 
 
 
 
Total property revenues
$
276,209

 
$
268,118

 
$
256,614

 
$
159,017

Income before discontinued operations
$
44,805

 
$
58,582

 
$
4,645

 
$
26,406

Net income
$
44,805

 
$
58,582

 
$
4,645

 
$
26,406

Net income available to common unitholders
$
41,599

 
$
55,382

 
$
1,416

 
$
23,329

Per unit data:
 

 
 

 
 

 
 

Net income:
 

 
 

 
 

 
 

Basic (2)
$
0.63

 
$
0.85

 
$
0.02

 
$
0.58

Diluted (2)
$
0.63

 
$
0.85

 
$
0.02

 
$
0.58

Distributions declared
$
1.30

 
$
1.30

 
$
1.30

 
$
1.21

2013:
 

 
 

 
 

 
 

Total property revenues
$
155,986

 
$
152,177

 
$
148,783

 
$
145,057

Income before discontinued operations
$
20,020

 
$
62,718

 
$
28,983

 
$
29,161

Net income
$
36,903

 
$
75,875

 
$
29,575

 
$
29,702

Net income available to common unitholders
$
33,776

 
$
72,777

 
$
26,493

 
$
26,703

Per unit data:
 

 
 

 
 

 
 

Net income:
 

 
 

 
 

 
 

Basic (2)
$
0.87

 
$
1.84

 
$
0.67

 
$
0.68

Diluted (2)
$
0.86

 
$
1.84

 
$
0.67

 
$
0.68

Distributions declared
$
1.21

 
$
1.21

 
$
1.21

 
$
1.21


(1)
Includes BRE results of operations after the merger date, April 1, 2014.
(2)
Quarterly earnings per common unit amounts may not total to the annual amounts due to rounding and the changes in the number of weighted common units outstanding and included in the calculation of basic and diluted shares.