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Condensed Consolidated Statements of Income and Comprehensive Income - USD ($)
$ in Thousands
3 Months Ended 6 Months Ended
Jun. 30, 2017
Jun. 30, 2016
Jun. 30, 2017
Jun. 30, 2016
Revenues:        
Rental and other property $ 336,766 $ 319,562 $ 669,934 $ 631,740
Management and other fees from affiliates 2,296 2,028 4,532 4,052
Total revenues 339,062 321,590 674,466 635,792
Expenses:        
Property operating, excluding real estate taxes 63,381 61,538 127,026 121,609
Real estate taxes 34,884 34,541 70,752 68,960
Depreciation and amortization 117,939 109,673 233,442 219,380
General and administrative 10,337 9,698 20,938 18,880
Acquisition and investment related costs 274 267 830 1,095
Total expenses 226,815 215,717 452,988 429,924
Earnings from operations 112,247 105,873 221,478 205,868
Interest expense (56,812) (55,568) (111,395) (108,034)
Total return swap income 2,531 2,814 5,115 5,937
Interest and other income 5,362 9,409 12,126 14,617
Equity income from co-investments 10,308 14,296 21,207 29,364
Gain on sale of real estate and land 0 0 26,174 20,258
Deferred tax expense on gain on sale of real estate and land 0 0 0 (4,279)
Gain on remeasurement of co-investment 2,159 0 88,641 0
Net income 75,795 76,824 263,346 163,731
Net income attributable to noncontrolling interest (5,036) (4,811) (13,623) (9,882)
Net income attributable to controlling interest 70,759 72,013 249,723 153,849
Dividends to preferred stockholders 0 0 0 (1,314)
Excess of redemption value of preferred stock over the carrying value 0 0 0 (2,541)
Net income available to common stockholders 70,759 72,013 249,723 149,994
Comprehensive income 77,468 78,005 267,232 162,701
Comprehensive income attributable to noncontrolling interest (5,091) (4,850) (13,752) (9,848)
Comprehensive income attributable to controlling interest $ 72,377 $ 73,155 $ 253,480 $ 152,853
Basic:        
Net income available to common stockholders (in dollars per share) $ 1.08 $ 1.10 $ 3.80 $ 2.29
Weighted average number of shares outstanding during the period (in shares) 65,729,074 65,451,110 65,639,775 65,428,382
Diluted:        
Net income available to common stockholders (in dollars per share) $ 1.08 $ 1.10 $ 3.80 $ 2.29
Weighted average number of shares outstanding during the period (in shares) 65,819,694 65,575,378 65,942,018 65,558,811
Dividends per common share (in dollars per share) $ 1.75 $ 1.60 $ 3.5 $ 3.2
Essex Portfolio, L.P. [Member]        
Revenues:        
Rental and other property $ 336,766 $ 319,562 $ 669,934 $ 631,740
Management and other fees from affiliates 2,296 2,028 4,532 4,052
Total revenues 339,062 321,590 674,466 635,792
Expenses:        
Property operating, excluding real estate taxes 63,381 61,538 127,026 121,609
Real estate taxes 34,884 34,541 70,752 68,960
Depreciation and amortization 117,939 109,673 233,442 219,380
General and administrative 10,337 9,698 20,938 18,880
Acquisition and investment related costs 274 267 830 1,095
Total expenses 226,815 215,717 452,988 429,924
Earnings from operations 112,247 105,873 221,478 205,868
Interest expense (56,812) (55,568) (111,395) (108,034)
Total return swap income 2,531 2,814 5,115 5,937
Interest and other income 5,362 9,409 12,126 14,617
Equity income from co-investments 10,308 14,296 21,207 29,364
Gain on sale of real estate and land 0 0 26,174 20,258
Deferred tax expense on gain on sale of real estate and land 0 0 0 (4,279)
Gain on remeasurement of co-investment 2,159 0 88,641 0
Net income 75,795 76,824 263,346 163,731
Net income attributable to noncontrolling interest (2,614) (2,361) (5,055) (4,648)
Net income attributable to controlling interest 73,181 74,463 258,291 159,083
Dividends to preferred stockholders 0 0 0 (1,314)
Excess of redemption value of preferred stock over the carrying value 0 0 0 (2,541)
Net income available to common stockholders 73,181 74,463 258,291 155,228
Comprehensive income 77,468 78,005 267,232 162,701
Comprehensive income attributable to noncontrolling interest (2,614) (2,361) (5,055) (4,648)
Comprehensive income attributable to controlling interest $ 74,854 $ 75,644 $ 262,177 $ 158,053
Basic:        
Net income available to common stockholders (in dollars per share) $ 1.08 $ 1.10 $ 3.80 $ 2.29
Weighted average number of shares outstanding during the period (in shares) 67,980,761 67,675,038 67,891,734 67,654,279
Diluted:        
Net income available to common stockholders (in dollars per share) $ 1.08 $ 1.10 $ 3.80 $ 2.29
Weighted average number of shares outstanding during the period (in shares) 68,071,381 67,799,306 68,193,977 67,784,708
Dividends per common share (in dollars per share) $ 1.75 $ 1.60 $ 3.5 $ 3.2