ESSEX PROPERTY TRUST, INC. 
By
Palo Alto, California-January 31, 2013-Essex Property Trust, Inc. (NYSE:ESS) announced today its fourth quarter and 2012 annual earnings results, related business activities, and 2013 guidance.
Funds from Operations ("FFO") and net income for the quarter and year ended December 31, 2012 are detailed below. Core FFO excludes non-recurring items.
Quarter Ended | Year Ended | ||
December 31, | % | December 31, | % |
Earnings(in millions)2012 2011 change 2012 2011 change
Total FFO | $65.5 | $55.5 | 18.0% | $250.9 | $200.2 | 25.3% |
Core FFO | $69.1 | $54.0 | 28.0% | $255.0 | $196.8 | 29.6% |
Net Income | $43.8 | $13.9 | 214.2% | $119.8 | $40.4 | 196.8% |
Per Diluted Share | ||||||
Total FFO | $1.72 | $1.55 | 10.7% | $6.71 | $5.74 | 16.9% |
Core FFO | $1.81 | $1.51 | 20.0% | $6.82 | $5.64 | 20.9% |
Earnings per Share | $1.22 | $0.42 | 189.7% | $3.41 | $1.24 | 175.0% |
Fourth Quarter and Full Year Highlights:
