Essex Property Trust(US:ESS)2025-10-30 18:00Financial Performance - Net Income per diluted share for Q3 2025 was $2.56, compared to $1.84 in Q3 2024, primarily driven by gains on sale of real estate[9] - Core FFO per diluted share grew by 1.5% compared to Q3 2024, exceeding guidance midpoint by $0.03[9] - Same-property revenue and NOI grew by 2.7% and 2.4%, respectively, compared to Q3 2024[9] - The company revised its full-year Net Income guidance to a midpoint of $10.58 per diluted share, an increase of $0.41[6] - The company revised its full-year Total FFO guidance to a midpoint of $15.96 per diluted share, an increase of $0.07[6] - The company revised its full-year Core FFO guidance to a midpoint of $15.94 per diluted share, an increase of $0.03[6] Capital Structure and Liquidity - Total market capitalization is $24.5 billion as of September 30, 2025[10] - The company's capital structure consists of 73% equity, 23% unsecured debt, 3% secured debt, and 1% commercial paper and credit facility[11] - Total liquidity stands at $1.507 billion, including $1.380 billion in available unsecured commitments and $127 million in cash, cash equivalents, and marketable securities[12] Debt and Credit - The company increased its unsecured credit facility from $1.2 billion to $1.5 billion and extended the maturity date to January 2030[9] - The company amended its existing $300 million unsecured term loan to extend the maturity date to January 2031 and reduced the interest rate by 0.10% to SOFR plus 0.85%[9] - Debt to Total Assets is 34%[2]