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ESS • CIK 0000920522
| (in thousands, except per share data) | FY 2023 | FY 2024 | FY 2025 | TTM |
|---|---|---|---|---|
| Operating Lease, Lease Income | $1,658,264 | $1,764,185 | $1,877,964 | $1,917,439 |
| Revenue from Contract with Customer, Excluding Assessed Tax | $11,131 | $10,265 | $9,381 | $9,295 |
| Revenues | $1,669,395 | $1,774,450 | $1,887,345 | $1,926,734 |
| Gains (Losses) on Sales of Investment Real Estate | $59,238 | $175,583 | $299,524 | $64,320 |
| Operating Income (Loss) | $584,342 | $703,095 | $899,316 | $627,101 |
| InterestExpenseNonoperating | — | $235,529 | $258,404 | $262,809 |
| Derivative, Gain on Derivative | $3,148 | $3,099 | $4,729 | $5,226 |
| Income (Loss) from Equity Method Investments | $10,561 | $48,206 | $35,464 | $50,608 |
| Deferred Other Tax Expense (Benefit) | $697 | $-929 | $-2,096 | $1,550 |
| Gain (Loss) on Extinguishment of Debt | $0 | $0 | $-762 | $0 |
| Net Income (Loss), Including Portion Attributable to Noncontrolling Interest | $430,708 | $811,306 | $702,773 | $437,606 |
| Net Income (Loss) Attributable to Noncontrolling Interest | $24,883 | $69,784 | $33,107 | $23,764 |
| Net Income (Loss) Available to Common Stockholders, Basic | $405,825 | $741,522 | $669,666 | $413,842 |
| Cost of Other Property Operating Expense | $299,672 | $326,113 | $353,355 | $359,673 |
| Real Estate Tax Expense | $185,807 | $193,413 | $205,631 | $207,541 |
| Depreciation | $548,438 | $580,220 | $607,542 | $613,722 |
| General and Administrative Expense | $63,474 | $98,902 | $71,948 | $131,662 |
| Business Combination, Acquisition Related Costs | $595 | $72 | $25 | $25 |
| Costs and Expenses | $1,144,291 | $1,246,938 | $1,287,553 | $1,363,953 |
| Weighted Average Number of Shares Outstanding, Basic | 64,252,232 | 64,228,356 | 64,379,418 | 64,388,629 |
| Weighted Average Number of Shares Outstanding, Diluted | 64,253,385 | 64,251,234 | 64,399,459 | 64,390,300 |
| (in thousands, except per share data) | FY 2023 | FY 2024 | FY 2025 | TTM |
|---|---|---|---|---|
| Land and Land Improvements | $3,036,912 | $3,246,789 | $3,363,169 | $3,363,169 |
| Investment Building and Building Improvements | $13,098,311 | $14,342,729 | $15,073,416 | $15,171,737 |
| Development in Process | $23,724 | $52,682 | $157,122 | $184,130 |
| Cash and Cash Equivalents, at Carrying Value | $391,749 | $66,795 | $76,241 | $58,327 |
| Real Estate Investment Property, at Cost | $16,135,223 | $17,589,518 | $18,436,585 | $18,534,906 |
| Investments in and Advance to Affiliates, Subsidiaries, Associates, and Joint Ventures | $1,061,733 | $935,014 | $630,550 | $612,512 |
| Restricted Cash and Cash Equivalents | $8,585 | $9,051 | $9,345 | $8,017 |
| Real Estate Investment Property, Accumulated Depreciation | $5,664,931 | $6,150,618 | $6,532,003 | $6,837,403 |
| EquitySecuritiesFvNiCurrentAndNoncurrent | $87,795 | $69,794 | $98,070 | $92,165 |
| Real Estate Investment Property, Net | $10,470,292 | $11,438,900 | $11,904,582 | $11,697,503 |
| Financing Receivable, after Allowance for Credit Loss | $174,621 | $206,706 | $141,591 | $96,334 |
| Operating Lease, Right-of-Use Asset | $63,757 | $51,556 | $50,833 | $49,077 |
| Prepaid Expense and Other Assets | $79,171 | $96,861 | $90,675 | $100,237 |
| Assets | $12,361,427 | $12,927,359 | $13,159,009 | $12,898,302 |
| Unsecured Debt | $5,318,531 | $5,473,788 | $6,015,921 | $5,569,283 |
| Secured Debt | $887,204 | $989,884 | $784,348 | $784,217 |
| Accounts Payable and Accrued Liabilities | $176,401 | $212,747 | $221,351 | $270,439 |
| Construction Payable | $20,659 | $14,347 | $24,743 | $33,256 |
| Dividends Payable | $155,695 | $165,443 | $173,698 | $174,499 |
| Operating Lease, Liability | $65,091 | $52,473 | $51,487 | $49,753 |
| Other Liabilities | $46,175 | $50,220 | $51,729 | $51,092 |
| Liabilities | $6,735,244 | $7,176,120 | $7,422,114 | $7,385,413 |
| Redeemable Noncontrolling Interest, Equity, Carrying Amount | $32,205 | $30,849 | $28,263 | $27,373 |
| Common Stock, Value, Issued | $6 | $6 | $6 | $6 |
| Additional Paid in Capital | $6,656,720 | $6,668,047 | $6,683,514 | $6,626,545 |
| Accumulated Distributions in Excess of Net Income | — | $1,155,662 | $1,148,195 | $1,312,602 |
| Accumulated Other Comprehensive Income (Loss), Net of Tax | $33,556 | $24,655 | $6,047 | $9,124 |
| Stockholders' Equity Attributable to Parent | $5,422,746 | $5,537,046 | $5,541,372 | $5,323,073 |
| Stockholders' Equity Attributable to Noncontrolling Interest | $171,232 | $183,344 | $167,260 | $162,443 |
| Stockholders' Equity, Including Portion Attributable to Noncontrolling Interest | $5,593,978 | $5,720,390 | $5,708,632 | $5,485,516 |
| Financing Receivable, Allowance for Credit Loss | $687 | $529 | $555 | $333 |
| Common Stock, Shares Authorized | 670,000,000 | 670,000,000 | 670,000,000 | 670,000,000 |
| Common Stock, Shares, Issued | 64,203,497 | 64,280,466 | 64,442,290 | 64,268,177 |
| (in thousands, except per share data) | FY 2023 | FY 2024 | FY 2025 | TTM |
|---|---|---|---|---|
| Net Income (Loss), Including Portion Attributable to Noncontrolling Interest | $430,708 | $811,306 | $702,773 | $437,606 |
| Net Cash Provided by (Used in) Operating Activities | $980,064 | $1,068,305 | $1,074,423 | $1,118,023 |
| Cash, Cash Equivalents, Restricted Cash and Restricted Cash Equivalents, Period Increase (Decrease), Including Exchange Rate Effect | $357,653 | $-324,488 | $9,740 | $-1,540 |
| Cash, Cash Equivalents, Restricted Cash and Restricted Cash Equivalents | $400,334 | $75,846 | $85,586 | $25,134 |
| Straight Line Rent | $-2,773 | $-34 | $1,115 | $1,054 |
| Depreciation, Depletion and Amortization, Nonproduction | $548,438 | $580,220 | $607,542 | $613,722 |
| Payments to Acquire Notes Receivable | $58,127 | $130,635 | $169,644 | $228,863 |
| Amortization of Debt Discount (Premium) | $6,911 | $7,795 | $7,162 | $10,063 |
| Proceeds from Sale and Collection of Receivables | $0 | $33,504 | $84,801 | $173,315 |
| Marketable Securities, Gain (Loss), Excluding Other-than-temporary Impairment Loss | — | — | $3,809 | $5,398 |
| Proceeds from Insurance Settlement, Investing Activities | $3,431 | $2,299 | $3,522 | $3,690 |
| Financing Receivable, Credit Loss, Expense (Reversal) | $70 | $-179 | $26 | $-207 |
| Proceeds from Sale of Real Estate Held-for-investment | $99,388 | $247,286 | $509,946 | $147,791 |
| Equity Method Investment, Realized Gain (Loss) on Disposal | — | — | $5,189 | $14,420 |
| Payments to Acquire Equity Method Investments | $37,405 | $34,073 | $33,752 | $26,454 |
| Proceeds from Equity Method Investment, Distribution | $76,787 | $62,868 | $93,010 | $93,961 |
| Payments to Acquire Marketable Securities | $20,780 | $1,002 | $25,515 | $29,731 |
| Increase (Decrease) in Other Receivables | $12,631 | $13,497 | $9,201 | $5,653 |
| Proceeds from Equity Method Investment, Distribution, Return of Capital | $39,751 | $40,503 | $184,401 | $197,651 |
| Net Cash Provided by (Used in) Investing Activities | $-145,140 | $-973,051 | $-552,483 | $-275,032 |
| Share-based Payment Arrangement, Noncash Expense | $8,031 | $7,158 | $9,640 | $10,976 |
| Gain (Loss) on Extinguishment of Debt | $0 | $0 | $-762 | $0 |
| Proceeds from Issuance of Long-term Debt | $598,000 | $554,875 | $1,148,242 | $599,826 |
| Repayments of Long-term Debt | $302,429 | $403,108 | $808,611 | $643,654 |
| Payments for Repurchase of Common Stock | $95,657 | $0 | $0 | $61,915 |
| Payment of Financing and Stock Issuance Costs | $1,736 | $9,568 | $13,394 | $8,577 |
| Payment for Debt Extinguishment or Debt Prepayment Cost | $0 | — | $697 | $0 |
| Proceeds from Issuance of Common Stock | $-347 | $-296 | $-391 | $-349 |
| Proceeds from Stock Options Exercised | $0 | $12,313 | $8,930 | $898 |
| Payment, Tax Withholding, Share-based Payment Arrangement | $3,825 | $3,217 | $8,114 | $8,400 |
| Payments of Distributions to Affiliates | $31,619 | $81,246 | $32,677 | $32,518 |
| Payments to Noncontrolling Interests | $609 | $6,453 | $13,475 | $6,481 |
| Payments for Repurchase of Redeemable Noncontrolling Interest | $0 | $521 | $0 | $0 |
| Payments of Ordinary Dividends | $586,976 | $620,466 | $654,068 | $663,361 |
| Net Cash Provided by (Used in) Financing Activities | $-477,271 | $-419,742 | $-512,200 | $-844,531 |
| Interest Paid, Excluding Capitalized Interest, Operating Activities | $207,038 | $223,220 | $252,651 | $255,331 |
| Interest Paid, Capitalized, Investing Activities | $823 | $251 | $3,659 | $5,059 |
| Operating Lease, Payments | $6,962 | $6,934 | $6,431 | $6,169 |
| Right-of-Use Asset Obtained in Exchange for Operating Lease Liability | — | — | $2,727 | $0 |
| Noncash or Part Noncash Acquisition, Debt Assumed | $0 | $95,000 | $0 | $0 |
| Payments to Acquire Real Estate | $25,098 | $940,440 | $831,661 | $250,431 |
| Payments to Develop Real Estate Assets | $7,872 | $2,874 | $61,878 | $85,210 |
| Increase (Decrease) in Prepaid Expense and Other Assets | $9,721 | $-32,007 | $2,002 | $-4,212 |
| Increase (Decrease) in Other Accounts Payable and Accrued Liabilities | $5,335 | $25,194 | $7,217 | $75,927 |
| Increase (Decrease) in Other Operating Liabilities | $2,735 | $-1,910 | $-2,264 | $-1,204 |