Essex Property Trust(US:ESS)2026-02-05 17:00Financial Performance and Guidance - Reported 2025 full-year Net Income per diluted share of $10.40, compared to $11.54 in 2024, primarily due to prior-year real estate and co-investment gains[7] - Achieved Core FFO per diluted share growth of 1.5% for Q4 2025 and 2.2% for the full year compared to 2024, exceeding original guidance[7] - Provided 2026 full-year guidance with a Core FFO per diluted share midpoint of $15.94 and same-property NOI growth midpoint of 2.10%[6] - Delivered same-property revenue and NOI growth of 3.8% in Q4 2025, with full-year growth of 3.3% and 3.2% respectively[7] Capital Structure and Liquidity - Maintained a strong liquidity profile with over $1.7 billion in immediately available liquidity as of December 31, 2025[7][10] - Reported a total market capitalization of $24.3 billion, supported by a debt composition of 88% unsecured and 12% secured debt[8][12] - Issued $350.0 million of 10-year senior unsecured notes in Q4 2025 at an interest rate of 4.875%[7] Investment and Credit Metrics - Executed $829.4 million in acquisitions and $563.8 million in dispositions of apartment communities during 2025[7] - Maintained stable credit ratings of Baa1 from Moody's and BBB+ from S&P[3] - Reported a Debt to Total Assets ratio of 35% and an Interest Coverage ratio of 510% for Q4 2025, both well within covenant requirements[2]