10-KPeriod: FY2009

ESSEX PROPERTY TRUST, INC. Annual Report, Year Ended Dec 31, 2009

Filed February 26, 2010For Securities:ESS

Summary

Essex Property Trust, Inc. (ESS) presents its 2009 annual report, reflecting a challenging economic environment. Despite headwinds, the company maintains a portfolio of West Coast apartment properties, emphasizing its strategy of operating in markets with strong demographic and economic fundamentals. Investors should note the company's focus on maintaining occupancy and rental rates as key drivers of performance in the current climate. The report details the company's operational strategies and financial position, highlighting its resilience and long-term prospects within the multifamily real estate sector. Key financial metrics and operational highlights from 2009 are crucial for understanding ESS's performance. The company's ability to generate consistent cash flow and manage its debt effectively will be paramount for navigating the economic landscape. Investors will want to pay close attention to the Management's Discussion and Analysis (MD&A) for insights into how ESS is adapting to market conditions, managing expenses, and pursuing growth opportunities. The report also outlines the company's strategic approach to its property portfolio, including potential acquisitions and dispositions, as it aims to enhance shareholder value.

Financial Highlights

32 data points
Beta

Revenue

$408.88M

Net Income

$37.11M

9.1% Net Margin

EPS (Diluted)

$2.91

Total Assets

$3.25B

Cash & Equivalents

$20.66M

Free Cash Flow

$173.59M

Financial Statements
Beta
Revenue$408.88M
Operating Expenses$297.15M
Operating Income$111.73M
Interest Expense$81.20M
Net Income$37.11M
EPS (Basic)$3.01
EPS (Diluted)$2.91
Shares Outstanding (Basic)27.27M
Shares Outstanding (Diluted)29.75M

Key Highlights

  • 1Portfolio concentrated in high-barrier-to-entry West Coast markets (California, Washington, Oregon).
  • 2Focus on multifamily properties, a sector generally resilient in economic downturns.
  • 3Emphasis on operational efficiency and expense management to maintain profitability.
  • 4Report filed on February 26, 2010, provides insights into performance for the fiscal year ending December 31, 2009.
  • 5Disclosure of key financial data and results of operations in Item 6 and Item 7.
  • 6Discussion of market risks and quantitative/qualitative disclosures in Item 7A, offering insights into potential impacts of economic factors.

Frequently Asked Questions

Essex Property Trust, Inc. is primarily engaged in the acquisition, development, redevelopment, management, and ownership of multifamily residential apartment communities.

The company's portfolio is concentrated in the West Coast of the United States, specifically in California, Washington, and Oregon.

While specific risks are detailed in Item 1A, general risks for real estate investment trusts in 2009 would include economic downturns affecting rental demand and rates, interest rate fluctuations, competition, and the company's ability to manage its debt and capital resources.

Detailed financial performance and results of operations can be found in Item 6 (Selected Financial Data) and Item 7 (Management's Discussion and Analysis of Financial Condition and Results of Operations) of the 10-K filing.