Essex Property Trust Inc. (ESS)

NYSE: ESS · USD

$262

-12.97 (-4.7%)· Recorded snapshot

Awaryjny angielskiPL

Pokazujemy źródło angielskie podczas tłumaczenia

Ten raport nie został jeszcze przetłumaczony. Odśwież za kilka minut, gdy kolejka tłumaczeń go przetworzy.

StockMarketAgent Research · Analyzed 2026-10-11

Our latest published analysis: ESS rated Hold

Essex Property Trust Inc.'s published Hold conclusion compares the analysis-date price with fair value and potential value. Read the full report for assumptions, evidence, and material risks.

Fair value

$291 / share

Potential value

$365 / share

Upside to FV

+7.1%

from $262

Moat

6.5/10

Narrow

Read full analysis →View archive · 24mo

9-phase methodology · same model in each published edition

Market cap	$18.7B
Revenue (ttm)	2B
Net income (ttm)	347.3M
EPS (ttm)	$5.39
Shares out	66.5M
P/E (trailing)	48.6x
P/E (forward)	43.9x
Dividend	$10.4 (3.95%)
Volume	1,083,656
Beta	0.72

Market data

Price

Recent price action with selectable time range.

Financial snapshot

Revenue (ttm): 2B
Net income (ttm): 347.3M
EPS (ttm): $5.39
P/E (trailing): 48.6x
P/E (forward): 43.9x
Market cap: $18.7B

Item	P1	P2	P3	P4	P5	Trend
Period	2021-12-31	2022-12-31	2023-12-31	2024-12-31	2025-12-31	Trend
Revenue	$9.1M	$11.1M	$11.1M	$10.3M	$9.4M	+0.7%
Gross profit	$1.21B	$1.13B	$1.17B	$1.24B	$1.32B	+2.2%
Operating income	$530.0M	$595.2M	$584.3M	$703.1M	$899.3M	+14.1%
Net income	$488.6M	$408.3M	$405.8M	$741.5M	$672.5M	+8.3%
EPS (diluted)	$7.51	$6.27	$6.32	$11.54	$10.40	+8.5%
EBITDA	$1.50B	$1.20B	$1.19B	$1.63B	$1.56B	+1.0%
R&D	$0	$0	$0	—	—	-15.0%
SG&A	$51.8M	$56.6M	$63.5M	$98.9M	$68.6M	+7.3%

Ticker	Name	Market cap	P/E	P/S	ROIC	5Y rev CAGR	1Y total return	Rating
AMT	American Tower Corporation	85.1B	25.8x	7.5x	7.8%	+4.0%	+0.7%	Redukuj
ARE	Alexandria Real Estate Equities Inc.	6.9B	—	2.4x	0.9%	+6.6%	-45.8%	Trzymaj
CCI	Crown Castle Inc.	37.4B	46.3x	9.1x	5.1%	-7.9%	-6.2%	Sprzedaj
CPT	Camden Property Trust	10.3B	32.3x	6.6x	3.2%	+7.7%	-0.6%	Kupuj
DLR	Digital Realty Trust, Inc.	68B	86.6x	10.0x	2.4%	+9.3%	+3.7%	Sprzedaj
DOC	Healthpeak Properties, Inc.	13B	53.8x	4.4x	2.5%	+10.5%	+3.0%	Zdecydowanie kupuj

Base and Bull scenarios

Base55%

Price target

$290.96

+7.1% from spot

Under the base scenario, which carries a probability of 55.0%, Essex achieves steady same-property revenue growth supported by supply scarcity and disciplined tenant retention. The shares advance toward the base target of $290.96, delivering an implied return of 7.1% against $271.57. This path assumes new apartment deliveries across Northern California and Seattle abate as projected, allowing renewal spreads to hold near recent levels while debt maturities are refinanced at prevailing market yields without impairing regular dividend distributions.

Same-property revenue growth tracks management guidance midpoint through the forecast period.
Operating margins remain stable near historical coastal multifamily levels.
Debt refinancing proceeds across staggered maturities without severe cash flow disruption.

Bull20%

Price target

$364.95

+34.4% from spot

Under the bull scenario, which carries a probability of 20.0%, accelerated hiring across Northern California and Seattle tech clusters sparks a surge in high-earning household formation. With new apartment deliveries falling to multi-year lows, leasing blends strengthen and occupancy reaches peak levels, driving the share price toward Potential value of $364.95 and bull target of $364.95, generating an implied return of 34.4%.

Accelerated tech employment growth drives elevated household formation in Silicon Valley and Seattle.
New apartment completions drop significantly across coastal submarkets, allowing substantial pricing leverage.
Capital markets ease, lowering refinancing spreads and boosting equity transaction multiples.

Sensitivity: Ke × terminal growth

The highlighted cell is Fair value when every assumption sits at its base level ($290.96). Each row and column shows what Fair value becomes when one assumption moves.

Ke ↓ / g →	1.8%	2.0%	2.3%	2.5%	2.8%
7.0%	$327	$328	$330	$331	$333
7.5%	$306	$308	$309	$310	$312
8.0%	$289	$290	$291	$292	$293
8.5%	$276	$276	$277	$278	$279
9.0%	$264	$264	$265	$266	$267

Scorecard

Published factor rows and weighted composite

Calendar

Next earnings

Upcoming earnings date and setup when available.

Upcoming

DateLoading

Window—

EPS estimate—

Revenue estimate—

Sector percentile context

Refreshed 2026-10-28 19:55 UTC

Forward P/E43.9

P25 n/aP50 n/aP75 n/a

Trailing P/E42.2

P25 n/aP50 n/aP75 n/a

ROE6.5

P25 n/aP50 n/aP75 n/a

ROIC3.2

P25 n/aP50 n/aP75 n/a

Benchmarks · 1M

All ESS indicators

Market & fundamental data

Available fields

261

Groups with data

Currency

USD

Showing 261 of 261 available metrics for this ticker.

Profile and market data

Ticker identity, listing, currency, market cap, and source dates.

Metric	Value
Amount currency	USD
CIK code	0000920522
Company name	Essex Property Trust, Inc.
Country	United States
Country code	US
CUSIP number	297178105
Earnings date	2026-10-27
Earnings time	amc
Employees	1,689
Employees change	-26
Employees growth	-1.52%
Enterprise value	$24B
Exchange	NYSE
Financial currency	USD
Financial report date	2026-09-30
First seen	2026-05-09
Fiscal year end	December
Founded	1971
In index	SP500
Industry	REIT - Residential
IPO date	1994-06-06
Is primary listing	Yes
Is SPAC	No
ISIN number	US2971781057
Last 10-K release date	2026-02-20
Last earnings date	2026-10-27
Last refreshed	2026-10-28
Last stock split type	Never
Market cap	$17.4B
Market cap category	Large-Cap
Next earnings date	2027-02-03
Options	Yes
Price	$261.87
Price currency	USD
Sector	Real Estate
SIC code	6798
Stock price date	2026-10-28
Symbol	ESS
U.S. state	California
Website	https://www.essexapartmenthomes.com

Valuation

Multiples, yields, enterprise-value ratios, and valuation checks.

Metric	Value
Adjusted P/E ratio	48.26x
Average P/E ratio (10Y)	36.29x
Average P/E ratio (3Y)	31.85x
Average P/E ratio (5Y)	34.5x
Earnings yield	2.06%
EV/Earnings	71.47x
EV/EBIT	39.81x
EV/EBITDA	20.03x
EV/FCF	42.75x
EV/Sales	12.45x
FCF / EV yield	2.34%
FCF yield	3.18%
Forward EV/Sales	12.4x
Forward P/E	40.87x
Forward P/S	9.12x
Graham number	99.97897
Graham upside	-63.62%
Industry forward P/E	42.72x
Industry P/E	39.48x
Lynch fair value	$26.95
Lynch upside	-90.19%
P/(FCF - SBC) ratio	32.06x
P/(OCF - SBC) ratio	16.5x
P/B ratio	3.33x
P/E ratio	48.58x
P/FCF ratio	31.45x
P/OCF ratio	16.34x
P/S ratio	9.16x
Price / tangible book value	3.45x
Price/EBITDA ratio	14.74x
Sector forward P/E	29.72x
Sector P/E	40.57x

Profitability

Margins, returns on capital, cash conversion, and quality metrics.

Metric	Value
EBIT margin	31.26%
EBITDA margin	62.13%
FCF margin	29.31%
Gross margin	68.62%
Operating margin	31.26%
Pretax margin	18.48%
Profit margin	17.41%
Profit per employee	$205,619
Profitable quarters	121
Profitable years	32
Revenue per employee	$1.2M
ROA	3%
ROA (5Y)	2.77%
ROCE	4.91%
ROE	6.51%
ROE (5Y)	9.88%
ROIC	3.16%
SBC / revenue	0.55%

Growth

Revenue, earnings, cash-flow, and forward growth indicators.

Metric	Value
EPS growth	-59%
EPS growth (Q)	-40.53%
EPS growth (QoQ)	56.7%
EPS growth 10Y	1.81%
EPS growth 3Y	-12.92%
EPS growth 5Y	-4.74%
EPS growth years	0
Net income growth	-58.98%
Net income growth (Q)	-40.43%
Net income growth (QoQ)	57.01%
Net income growth 3Y	-12.9%
Net income growth 5Y	-4.94%
Net income growth years	0
OCF growth	8.32%
OCF growth 10Y	5.09%
OCF growth 3Y	5.41%
OCF growth 5Y	6.79%
Revenue growth	4.04%
Revenue growth (Q)	0.32%
Revenue growth (QoQ)	-0.18%
Revenue growth 10Y	4.31%
Revenue growth 3Y	5.5%
Revenue growth 5Y	5.79%
Revenue growth quarters	19
Revenue growth years	4

Financial statements

Income-statement and cash-flow amounts, totals and per share.

Metric	Value
Capital expenditures	$-537.4M
Depreciation and amortization	$614.8M
EBIT	$623.5M
EBITDA	$1.2B
EPS	$5.39
FCF per share	$8.74
Free cash flow	$580.7M
Free cash flow minus SBC	$569.7M
Funds from operations (FFO)	$1.1B
Gross profit	$1.4B
Investing cash flow	$-275M
Net cash flow	$-1.5M
Net income	$347.3M
Operating cash flow minus SBC	$1.1B
Operating income	$623.5M
Revenue	$2B
Stock-based compensation	$11M

Financial strength

Debt, cash, solvency, accounting-quality, and balance-sheet signals.

Metric	Value
Book value per share	$82.41
Debt / EBITDA	5.32
Debt / equity	1.21
Debt / FCF	11.43
Interest coverage	2.38
Net cash (debt)	$-6.6B
Net cash / market cap	-35.9%
Net debt / EBITDA	5.29
Net debt / equity	1.2
Net debt / FCF	11.29
Piotroski F-Score	6
Property, plant and equipment	$11.8B
Shareholders' equity	$5.5B
Tangible book value	$5.3B
Tangible book value per share	$82.41
Total assets	$12.8B
Total cash	$80.3M
Total debt	$6.6B
Total liabilities	$7.3B
WACC	6.83%

Liquidity

Current-asset coverage and working-capital efficiency metrics.

Metric	Value
Asset turnover	0.15
Current ratio	2.65
Net working capital	$99M
Quick ratio	0.74
Working capital	$179.3M

Dividends and buybacks

Dividend yield, payout, buybacks, and shareholder-yield indicators.

Metric	Value
Buyback yield / dilution	0%
Dividend growth	1.77%
Dividend growth (10Y)	5.18%
Dividend growth (3Y)	4.24%
Dividend growth (5Y)	4.37%
Dividend growth years	1
Dividend payment date	2026-10-15
Dividend payment years	33
Dividend payout frequency	Quarterly
Dividend per share	$10.36
Dividend yield	3.95%
Ex-dividend date	2026-09-30
FCF payout ratio	118.56%
Last dividend	$2.59
Payout ratio	192.19%
Shareholder yield	3.77%

Performance and technicals

Returns, volatility, beta, momentum, RSI, and moving-average context.

Metric	Value
10Y price change	28%
10Y return CAGR	5.99%
10Y total return	78.93%
150-day SMA	$275.23
15Y price change	79.92%
15Y return CAGR	7.37%
15Y total return	190.44%
1D price change	-4.72%
1M price change	-2.99%
1M total return	-2.06%
1W price change	-3.16%
1W total return	-3.16%
1Y price change	0.45%
1Y return CAGR	4.43%
1Y total return	4.43%
20-day SMA	$271.44
200-day SMA	$269.64
20Y price change	102.06%
20Y return CAGR	7.18%
20Y total return	299.98%
3M price change	-9.35%
3M total return	-8.49%
3Y price change	27.55%
3Y return CAGR	12.56%
3Y total return	42.61%
50-day SMA	$275.34
50-day SMA vs 200-day SMA	50over200
52-week high	$303.35
52-week high date	2026-07-07
52-week low	$238.46
52-week low date	2026-03-27
5Y price change	-22.94%
5Y return CAGR	-1.52%
5Y total return	-7.38%
6M price change	2.59%
6M total return	4.49%
All-time high	$363.36
All-time high date	2022-04-21
All-time low	$14.63
All-time low date	1994-12-28
Average true range (ATR)	$5.96
Average volume	480.8K
Beta (1Y)	0.03
Beta (2Y)	0.59
Beta (5Y)	0.72
Change from 52-week high	-13.67%
Change from 52-week low	9.82%
Change from all-time high	-27.49%
Change from all-time low	1,701.64%
Change from open	-0.81%
Day's gap	-3.95%
Dollar volume	$283.8M
High price	$264.70
Low price	$260.10
Monthly RSI	47.96
Open price	$264.00
Position in 52-week range	38.48%
Premarket change	-2.49%
Premarket close	$274.85
Premarket price	$268.00
Premarket volume	971
Previous close	$274.85
Price vs 150-day SMA	-4.27%
Price vs 20-day SMA	-2.93%
Price vs 200-day SMA	-2.28%
Price vs 50-day SMA	-4.31%
Relative volume	2.25
RSI	38.47
Sharpe ratio	0.12
Sharpe ratio (3Y)	0.44
Sharpe ratio (5Y)	-0.09
Sortino ratio	0.43
Sortino ratio (3Y)	0.87
Sortino ratio (5Y)	0.11
Volume	1.1M
Weekly RSI	42.27
YTD price change	0.69%
YTD total return	4.69%

Ownership and float

Institutional, insider, float, short-interest, and share-count fields.

Metric	Value
Float	63.6M
Float percentage	95.64%
Shares change (QoQ)	0.05%
Shares change (YoY)	-0%
Shares held by insiders	0.47%
Shares held by institutions	103.04%
Shares outstanding	66.5M
Short % of float	4%
Short % of shares	3.82%
Short ratio	4.4 days

Deeper analysis on ESS

14 sections in the full report · jump straight to what you need

Forecast

Base and Bull forecast paths with report-date return framing.

→

Valuation

Fair-value bridge, DCF, owner earnings, and peer multiples.

→

Sensitivity

Cost-of-equity and terminal-growth stress table.

→

Risks

Kill scenarios, soft-pass flags, and downside catalysts.

→

Earnings

Next earnings setup and beat / inline / miss thresholds.

→

Position sizing

Entry, exit, conviction, and quarterly monitoring rules.

→

Financials

Revenue, margins, cash flow, and balance-sheet context.

→

Peers

Relative valuation and profitability against the cohort.

→

Moat

Economic-profit evidence and competitive advantage risk.

→

Industry cycle

Sector phase, capital cycle, and secular tailwinds.

→

Quote this valuation with its source: Fair value, Potential value and the price at analysis.

Frequently asked questions

About this ESS report

What is the latest published ESS stock rating?

Essex Property Trust Inc. is shown with Hold in the latest published report, analyzed 2026-10-11. The hub links directly to the full analysis surface where the dated rating, fair-value bridge, risks, and scorecard are documented together.

Where can I read the full ESS analysis?

The full latest published report, analyzed 2026-10-11, lives at /stocks/ESS/analysis. The bare ticker page summarizes that read and links to each analysis tab; earlier editions remain under /analysis/archive.

What fair value is used for ESS?

The latest published report analyzed 2026-10-11 gives ESS a fair value of USD 291 and a potential value of USD 365. These are dated research outputs, not live market prices; review the valuation assumptions, sensitivity analysis, and material risks before making a decision.

How often is the ESS page updated?

The hub selects the latest published stock report regardless of age and displays its analysis date (2026-10-11). Separately sourced market data is labeled with its own recorded timestamp and is never inferred from the report.

HoldESS · Fair value $291+7.1%

Read full analysis →

Category	Score	Reading
Valuation	6.0
Management	8.5
Balance Sheet	3.0
Profitability	5.5
Revenue Growth	4.5
Risk Assessment	5.5
Competitive Moat	6.5
Earnings Quality	6.0
Capital Efficiency	2.5

Essex Property Trust Inc. (ESS)

Our latest published analysis: ESS rated Hold

Price

Financial snapshot

Fair-value bridge

Latest news · ESS

Valuation

Profitability

Balance sheet

Trading

Base and Bull scenarios

Sensitivity: Ke × terminal growth

Scorecard

Next earnings

Sector percentile context

All ESS indicators

Profile and market data

Valuation

Profitability

Growth

Financial statements

Financial strength

Liquidity

Dividends and buybacks

Performance and technicals

Ownership and float

Deeper analysis on ESS

Frequently asked questions

Historia rekomendacji