Essex Property Trust, Inc. · NYSE:ESS
Essex Property Trust — Q4 2024 Earnings Presentation
5 slides from Essex Property Trust's earnings presentation, Feb 5, 2025
Slide 1: Fourth Quarter 2024 Credit Update
Solstice 280 Apartment Homes Sunnyvale, CA FOURTH QUARTER 2024 CREDIT UPDATE
Slide 2: Selected Ratios & Credit Ratings
SELECTED RATIOS & CREDIT RATINGS Public Bond Covenants(1) & Selected Credit Ratios Q4 ’24 Q3 ’24 Q2 ’24 Q1 ’24 Q4 ’23 Covenant Debt to Total Assets 35% 34% 34% 35% 34% < 65% Secured Debt to Total Assets 5% 5% 5% 5% 5% < 40% Interest Coverage 540% 547% 552% 561% 566% > 150% Unsecured Debt Ratio (2) 2
Slide 3: Fourth Quarter 2024 Highlights and 2025 Guidance
FOURTH QUARTER 2024 HIGHLIGHTS AND 2025 GUIDANCE § Reported Net Income per diluted share for the fourth quarter of 2024 of $4.00, compared to $1.02 in the fourth quarter of 2023. For the full- year 2024, the Company reported Net Income per diluted share of $11.54 compared to $6.32 in 2023. The year-
Slide 4: Capital Structure & Liquidity Profile
CAPITAL STUCTURE & LIQUIDITY PROFILE $25.6 Billion Total Market Capitalization (1) Debt Composition (1) (2) Secured Credit Debt Facility Secured 4% 2% Fixed Rate 10% Secured Unsecured Debt Variable Rate 21% 5% Unsecured Term Loan Credit 5% Facility 1% Unsecured Equity Bonds 74% 78% Secured Liquidity
Slide 5: Debt Maturity Schedule
MATURITY SCHEDULE Debt Maturity Schedule (1) 1,200 Debt Maturities in Millions ($) (as of 12/31/2024) 1,000 800 154 2 2 2 90 600 2 144 194 1 68 400 650 600 650 600 500 500 550 550 200 450 450 330 2 0 2025 2026 2027 2028 2029 2030 2031 2032 2033 2034 2035 Thereafter Unsecured Secured % of Total Debt