Essex Property Trust(US:ESS)2025-04-30 11:20Financial Performance - Net income per diluted share for Q1 2025 was $3.16, compared to $4.25 in Q1 2024 [11] - Core FFO per diluted share grew by 3.7% compared to Q1 2024 [11] - Same-property revenue and NOI grew by 3.4% and 3.3%, respectively, compared to Q1 2024 [11] - The company reaffirms full-year guidance ranges for Core FFO per diluted share, same-property revenues, expenses, and NOI [11] - The company projects net income per diluted share to be in the range of $9.19 to $9.69 [8] Capital Structure and Liquidity - Total market capitalization is $27.2 billion [12] - Equity accounts for 75% of the capital structure [13] - Unsecured debt represents 22% of the capital structure [13] - Secured debt constitutes 3% of the capital structure [13] - Total liquidity stands at $1.45 billion, including $1.275 billion undrawn from the credit facility and $175 million in cash, cash equivalents, and marketable securities [14] Debt and Maturities - Unsecured debt makes up 86% of the total debt composition [16] - Unsecured bonds account for 82% of the debt composition [16] - Secured debt represents 14% of the debt composition [16] - In February, the company issued $400 million of 10-year senior unsecured notes due in April 2035 with an interest rate of 5.375% [11]