Net Income Per Common Share and Net Income Per Common Unit (Tables)

9 Months Ended

Sep. 30, 2026

Net Income Per Share and Net Income Per Unit [Line Items]

Schedule of Net Income Per Common Share

Basic and diluted income per share was calculated as follows ($ in thousands, except per share amounts):

	Three Months Ended September 30,
	2026					2025
	Income		Weighted- average Common Shares	Per Common Share Amount		Income		Weighted- average Common Shares	Per Common Share Amount
Basic:
Net income available to common stockholders	$	98,069	64,290,878	$	1.53	$	164,621	64,404,008	$	2.56
Effect of Dilutive Securities:
Stock options	—		21,115			—		14,232
Diluted:
Net income available to common stockholders	$	98,069	64,311,993	$	1.52	$	164,621	64,418,240	$	2.56

	Nine Months Ended September 30,
	2026					2025
	Income		Weighted- average Common Shares	Per Common Share Amount		Income		Weighted- average Common Shares	Per Common Share Amount
Basic:
Net income available to common stockholders	$	266,717	64,336,608	$	4.15	$	589,093	64,368,625	$	9.15
Effect of Dilutive Securities:
Stock options	—		13,667			—		23,619
Diluted:
Net income available to common stockholders	$	266,717	64,350,275	$	4.14	$	589,093	64,392,244	$	9.15

Essex Portfolio, L.P.

Net Income Per Share and Net Income Per Unit [Line Items]

Schedule of Net Income Per Common Share

Basic and diluted income per unit was calculated as follows ($ in thousands, except per unit amounts):

	Three Months Ended September 30,
	2026					2025
	Income		Weighted- average Common  Units	Per Common Unit Amount		Income		Weighted- average Common  Units	Per Common Unit Amount
Basic:
Net income available to common unitholders	$	101,399	66,474,822	$	1.53	$	170,388	66,660,423	$	2.56
Effect of Dilutive Securities:
Stock options	—		21,115			—		14,232
Diluted:
Net income available to common unitholders	$	101,399	66,495,937	$	1.52	$	170,388	66,674,655	$	2.56

	Nine Months Ended September 30,
	2026					2025
	Income		Weighted- average Common  Units	Per Common Unit Amount		Income		Weighted- average Common  Units	Per Common Unit Amount
Basic:
Net income available to common unitholders	$	275,839	66,534,750	$	4.15	$	609,920	66,643,952	$	9.15
Effect of Dilutive Securities:
Stock options	—		13,667			—		23,619
Diluted:
Net income available to common unitholders	$	275,839	66,548,417	$	4.14	$	609,920	66,667,571	$	9.15