Quarterly Results of Operations (Unaudited)

12 Months Ended

Dec. 31, 2019

Quarterly Results of Operations (Unaudited)

Essex Property Trust, Inc.

The following is a summary of quarterly results of operations for 2019 and 2018 ($ in thousands, except per share and dividend amounts):



	Quarter ended December 31		Quarter ended September 30		Quarter ended June 30		Quarter ended March 31
2019:
Total property revenues	$	372,861	$	364,504	$	359,375	$	353,888
Net income	$	135,182	$	105,700	$	98,061	$	125,505
Net income available to common stockholders	$	128,818	$	99,335	$	92,275	$	118,858
Per share data:
Net income:
Basic ⁽¹⁾	$	1.95	$	1.51	$	1.40	$	1.81
Diluted ⁽¹⁾	$	1.95	$	1.51	$	1.40	$	1.81
Dividends declared	$	1.95	$	1.95	$	1.95	$	1.95
2018:
Total property revenues	$	350,787	$	348,610	$	346,526	$	344,947
Net income	$	124,440	$	86,110	$	106,410	$	96,639
Net income available to common stockholders	$	117,820	$	80,975	$	100,440	$	90,918
Per share data:
Net income:
Basic ⁽¹⁾	$	1.78	$	1.23	$	1.52	$	1.38
Diluted ⁽¹⁾	$	1.78	$	1.22	$	1.52	$	1.38
Dividends declared	$	1.86	$	1.86	$	1.86	$	1.86


⁽¹⁾	Quarterly earnings per common share amounts may not total to the annual amounts due to rounding and the changes in the number of weighted common shares 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 2019 and 2018 ($ in thousands, except per unit and distribution amounts):



	Quarter ended December 31		Quarter ended September 30		Quarter ended June 30		Quarter ended March 31
2019:
Total property revenues	$	372,861	$	364,504	$	359,375	$	353,888
Net income	$	135,182	$	105,700	$	98,061	$	125,505
Net income available to common unitholders	$	133,298	$	102,799	$	95,503	$	123,029
Per unit data:
Net income:
Basic ⁽¹⁾	$	1.95	$	1.51	$	1.40	$	1.81
Diluted ⁽¹⁾	$	1.95	$	1.51	$	1.40	$	1.81
Distributions declared	$	1.95	$	1.95	$	1.95	$	1.95
2018:
Total property revenues	$	350,787	$	348,610	$	346,526	$	344,947
Net income	$	124,440	$	86,110	$	106,410	$	96,639
Net income available to common unitholders	$	121,891	$	83,764	$	103,900	$	94,050
Per unit data:
Net income:
Basic ⁽¹⁾	$	1.78	$	1.23	$	1.52	$	1.38
Diluted ⁽¹⁾	$	1.78	$	1.23	$	1.52	$	1.38
Distributions declared	$	1.86	$	1.86	$	1.86	$	1.86

⁽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 units.