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Quarterly Results of Operations (Unaudited)
 12 Months Ended
Dec. 31, 2015
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 2015 and 2014 ($ in thousands, except per share and dividend amounts):

 
Quarter ended
December 31
 
Quarter ended
September 30
 
Quarter ended
June 30
 
Quarter ended
March 31
2015:
 
 
 
 
 
 
 
Total property revenues
$
308,646

 
$
302,522

 
$
294,101

 
$
280,229

Net income
$
85,762

 
$
47,182

 
$
50,542

 
$
64,753

Net income available to common stockholders
$
79,624

 
$
42,323

 
$
45,555

 
$
59,363

Per share data:
 

 
 

 
 

 
 

Net income:
 

 
 

 
 

 
 

Basic (1)
$
1.22

 
$
0.65

 
$
0.70

 
$
0.92

Diluted (1)
$
1.22

 
$
0.65

 
$
0.70

 
$
0.92

Market price:
 

 
 

 
 

 
 

High
$
244.71

 
$
232.20

 
$
231.90

 
$
243.17

Low
$
214.29

 
$
205.72

 
$
208.85

 
$
207.26

Close
$
239.41

 
$
223.42

 
$
212.50

 
$
229.90

Dividends declared
$
1.44

 
$
1.44

 
$
1.44

 
$
1.44

2014 (2):
 

 
 

 
 

 
 

Total property revenues
$
276,778

 
$
268,512

 
$
256,952

 
$
159,349

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 (1)
$
0.63

 
$
0.85

 
$
0.02

 
$
0.58

Diluted (1)
$
0.63

 
$
0.85

 
$
0.02

 
$
0.58

Market price:
 

 
 

 
 

 
 

High
$
214.43

 
$
196.08

 
$
185.99

 
$
173.01

Low
$
176.70

 
$
177.68

 
$
164.76

 
$
141.79

Close
$
206.60

 
$
178.75

 
$
184.91

 
$
170.05

Dividends declared
$
1.30

 
$
1.30

 
$
1.30

 
$
1.21


(1) 
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.
(2) 
Includes BRE results of operations after the merger date, April 1, 2014.


Essex Portfolio, L.P.

The following is a summary of quarterly results of operations for 2015 and 2014 ($ in thousands, except per unit and distribution amounts):
 
Quarter ended
December 31
 
Quarter ended
September 30
 
Quarter ended
June 30
 
Quarter ended
March 31
2015:
 
 
 
 
 
 
 
Total property revenues
$
308,646

 
$
302,522

 
$
294,101

 
$
280,229

Net income
$
85,762

 
$
47,182

 
$
50,542

 
$
64,753

Net income available to common unitholders
$
82,333

 
$
43,794

 
$
47,088

 
$
61,474

Per unit data:
 

 
 

 
 

 
 

Net income:
 

 
 

 
 

 
 

Basic (1)
$
1.22

 
$
0.65

 
$
0.70

 
$
0.93

Diluted (1)
$
1.22

 
$
0.65

 
$
0.70

 
$
0.92

Distributions declared
$
1.44

 
$
1.44

 
$
1.44

 
$
1.44

2014 (2):
 

 
 

 
 

 
 

Total property revenues
$
276,778

 
$
268,512

 
$
256,952

 
$
159,349

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 (1)
$
0.63

 
$
0.85

 
$
0.02

 
$
0.58

Diluted (1)
$
0.63

 
$
0.85

 
$
0.02

 
$
0.58

Distributions declared
$
1.30

 
$
1.30

 
$
1.30

 
$
1.21


(1) 
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.
(2) 
Includes BRE results of operations after the merger date, April 1, 2014.