Essex Property Trust, Inc. · NYSE:ESS
Essex Property Trust — Q3 2024 Earnings Presentation
5 slides from Essex Property Trust's earnings presentation, Oct 30, 2024
Slide 1: Third Quarter 2024 Credit Update
LIVIA at Scripps Ranch 264 Apartment Homes San Diego, CA THIRD QUARTER 2024 CREDIT UPDATE
Slide 2: Selected Ratios & Credit Ratings
SELECTED RATIOS & CREDIT RATINGS Public Bond Covenants(1) & Selected Credit Ratios Q3 ’24 Q2 ’24 Q1 ’24 Q4 ’23 Q3 ’23 Covenant Debt to Total Assets 34% 34% 35% 34% 34% < 65% Secured Debt to Total Assets 5% 5% 5% 5% 5% < 40% Interest Coverage 547% 552% 561% 566% 573% > 150% Unsecured Debt Ratio (2) 2
Slide 3: Third Quarter 2024 Highlights
THIRD QUARTER 2024 HIGHLIGHTS ▪ Reported Net Income per diluted share for the third quarter of 2024 of $1.84, compared to $1.36 in the third quarter of 2023. The increase is largely attributable to gains on remeasurements of co-investments recognized in the third quarter of 2024. ▪ Grew Core FFO per
Slide 4: Capital Structure & Liquidity Profile
CAPITAL STUCTURE & LIQUIDITY PROFILE $26.1 Billion Total Market Capitalization (1) Debt Composition (1) (2) Secured Credit Secured Debt Facility Fixed Rate 3% ~0% Secured 10% Unsecured Variable Rate Debt 4% 21% Unsecured Term Loan 5% Credit Facility ~0% Unsecured Equity Bonds 76% 81% Liquidity Profi
Slide 5: Maturity Schedule
MATURITY SCHEDULE Debt Maturity Schedule(1) 1,200 Debt Maturities in Millions ($) (as of 9/30/2024) 1,000 800 154 2 2 2 2 93 600 133 68 1 99 400 650 600 650 600 500 500 550 550 200 450 450 330 1 0 2024 2025 2026 2027 2028 2029 2030 2031 2032 2033 2034 Thereafter Unsecured Secured % of Total Debt Mat