Quarterly Results of Operations (Unaudited) (Tables)

12 Months Ended

Dec. 31, 2014

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

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.