Overview Dividends

(ESS) Essex Property Trust - Ratings and Ratios

Exchange: NYSE • Country: United States • Currency: USD • Type: Common Stock • ISIN: US2971781057

Multifamily Properties, Apartments, Real Estate

Multi-Family Residential REITs
Market Cap in USD: 18,016m

IPO / Inception: 1994-06-06
Return 12m vs S&P 500: -18.8%

EPS (Earnings per Share)

EPS CAGR: -7.18%
EPS Trend: -11.1%

Last SUE: -0.20
Qual. Beats: 0

Revenue

Rev. CAGR: 6.66%
Rev. Trend: 97.6%

Last SUE: 0.02
Qual. Beats: 0

Dividends

Dividend Yield	3.89%
Yield on Cost 5y	5.08%
Yield CAGR 5y	-3.03%
Payout Consistency	99.4%
Payout Ratio	2.0%

Risk via 5d forecast
Volatility	21.3%
Value at Risk 5%th	35.5%
Relative Tail Risk	1.19%

Reward TTM
Sharpe Ratio	-0.25
Alpha	-17.58
CAGR/Max DD	0.58

Character TTM
Hurst Exponent	0.463
Beta	0.628
Beta Downside	0.805

Drawdowns 3y
Max DD	19.07%
Mean DD	7.00%
Median DD	6.37%

Description: ESS Essex Property Trust December 19, 2025

Essex Property Trust (NYSE:ESS) is an S&P 500 REIT that focuses on acquiring, developing, redeveloping, and managing multifamily residential assets across select West Coast markets. The company presently holds ownership stakes in 257 apartment communities, totaling more than 62,000 units, and has at least one additional property under active development.

Key performance indicators as of the most recent FY 2023 filing show an occupancy rate of roughly 96%, a funds-from-operations (FFO) growth of 8% year-over-year, and a leverage ratio (net debt to total assets) of about 55%, placing Essex in the mid-range of industry leverage norms.

The West Coast multifamily sector is driven by strong population inflows, limited new supply due to zoning constraints, and relatively resilient rent growth-average annual rent increases of 4-5% in the company’s core markets. However, rising interest rates could pressure cap-rate compression and affect acquisition financing costs.

For a deeper, data-rich analysis of ESS’s valuation dynamics, consider exploring the detailed metrics available on ValueRay.

Piotroski VR‑10 (Strict, 0-10) 3.5

Net Income (846.5m TTM) > 0 and > 6% of Revenue (6% = 111.7m TTM)

FCFTA 0.07 (>2.0%) and ΔFCFTA -0.21pp (YES ≥ +1.0pp, WARN ≥ +0.5pp)

NWC/Revenue -17.29% (prev -0.82%; Δ -16.47pp) (YES ≤20% & Δ≤-1pp; WARN ≤25% & Δ≤0 oder ≤40% & Δ≤-3pp)

CFO/TA 0.08 (>3.0%) and CFO 1.06b > Net Income 846.5m (YES >=105%, WARN >=100%)

Net Debt (6.65b) to EBITDA (1.62b) ratio: 4.11 <= 3.0 (WARN <= 3.5)

Current Ratio 0.54 (target 1.5–3.0; WARN 1.2–<1.5 or >3.0–5.0; CFO/TA gate active)

Outstanding Shares last Quarter (64.4m) change vs 12m ago 0.23% (target <= -2.0% for YES)

Gross Margin 60.02% (prev 81.90%; Δ -21.88pp) >=18% & Δ>=+0.5pp (WARN >=15% & Δ>=0)

Asset Turnover 14.44% (prev 13.77%; Δ 0.67pp) >=50% & Δ>=+2pp (WARN >=35% & Δ>=0)

Interest Coverage Ratio 4.02 (EBITDA TTM 1.62b / Interest Expense TTM 252.6m) >= 6 (WARN >= 3)

Altman Z'' -0.05

(A) -0.02 = (Total Current Assets 381.0m - Total Current Liabilities 703.0m) / Total Assets 13.15b

(B) -0.08 = Retained Earnings (Balance) -1.06b / Total Assets 13.15b

(D) -0.14 = Book Value of Equity -1.06b / Total Liabilities 7.32b

Total Rating: -0.05 = (6.56 * A) + (3.26 * B) + (6.72 * C) + (1.05 * D)

ValueRay F-Score (Strict, 0-100) 67.88

1. Piotroski 3.50pt

2. FCF Yield 3.73%

3. FCF Margin 49.34%

4. Debt/Equity 1.19

5. Debt/Ebitda 4.11

6. ROIC - WACC (= 2.12)%

7. RoE 15.13%

8. Rev. Trend 97.62%

9. EPS Trend -11.06%

What is the price of ESS shares?

As of December 25, 2025, the stock is trading at USD 261.12 with a total of 147,518 shares traded.
Over the past week, the price has changed by -0.51%, over one month by +0.33%, over three months by -0.35% and over the past year by -5.63%.

Is ESS a buy, sell or hold?

Essex Property Trust has received a consensus analysts rating of 3.33. Therefor, it is recommend to hold ESS.

Strong Buy: 3
Buy: 6
Hold: 16
Sell: 1
Strong Sell: 1

What are the forecasts/targets for the ESS price?

Issuer	Target	Up/Down from current
Wallstreet Target Price	283.5	8.6%
Analysts Target Price	283.5	8.6%
ValueRay Target Price	271.8	4.1%

ESS Fundamental Data Overview December 24, 2025

Market Cap USD = 18.02b (18.02b USD * 1.0 USD.USD)
P/E Trailing = 19.5679
P/E Forward = 42.9185
P/S = 9.3993
P/B = 2.9437
P/EG = 7.395
Beta = 0.728
Revenue TTM = 1.86b USD
EBIT TTM = 1.01b USD
EBITDA TTM = 1.62b USD
Long Term Debt = 6.42b USD (from longTermDebt, last quarter)
Short Term Debt = 245.0m USD (from shortTermDebt, last quarter)
Debt = 6.71b USD (from shortLongTermDebtTotal, last quarter)
Net Debt = 6.65b USD (from netDebt column, last quarter)
Enterprise Value = 24.66b USD (18.02b + Debt 6.71b - CCE 66.0m)
Interest Coverage Ratio = 4.02 (Ebit TTM 1.01b / Interest Expense TTM 252.6m)
FCF Yield = 3.73% (FCF TTM 918.9m / Enterprise Value 24.66b)
FCF Margin = 49.34% (FCF TTM 918.9m / Revenue TTM 1.86b)
Net Margin = 45.46% (Net Income TTM 846.5m / Revenue TTM 1.86b)
Gross Margin = 60.02% ((Revenue TTM 1.86b - Cost of Revenue TTM 744.4m) / Revenue TTM)
Gross Margin QoQ = 69.69% (prev 68.62%)
Tobins Q-Ratio = 1.88 (Enterprise Value 24.66b / Total Assets 13.15b)
Interest Expense / Debt = 0.94% (Interest Expense 63.3m / Debt 6.71b)
Taxrate = -108.6% (out of range, set to none) (-881.1m / 811.3m)
NOPAT = unknown (EBIT/Op.Income or Taxrate missing)
Current Ratio = 0.54 (Total Current Assets 381.0m / Total Current Liabilities 703.0m)
Debt / Equity = 1.19 (Debt 6.71b / totalStockholderEquity, last quarter 5.63b)
Debt / EBITDA = 4.11 (Net Debt 6.65b / EBITDA 1.62b)
Debt / FCF = 7.24 (Net Debt 6.65b / FCF TTM 918.9m)
Total Stockholder Equity = 5.59b (last 4 quarters mean from totalStockholderEquity)
RoA = 6.44% (Net Income 846.5m / Total Assets 13.15b)
RoE = 15.13% (Net Income TTM 846.5m / Total Stockholder Equity 5.59b)
RoCE = 8.45% (EBIT 1.01b / Capital Employed (Equity 5.59b + L.T.Debt 6.42b))
RoIC = 8.19% (EBIT 1.01b / (Assets 13.15b - Curr.Liab 703.0m - Cash 66.0m))
WACC = 6.07% (E(18.02b)/V(24.73b) * Re(8.33%) + (debt cost/tax rate unavailable))
Discount Rate = 8.33% (= CAPM, Blume Beta Adj.)
Shares Correlation 3-Years: 100.0 | Cagr: 0.18%
[DCF Debug] Terminal Value 77.71% ; FCFE base≈915.3m ; Y1≈943.5m ; Y5≈1.06b
Fair Price DCF = 275.2 (DCF Value 17.73b / Shares Outstanding 64.4m; 5y FCF grow 3.09% → 3.0% )
EPS Correlation: -11.06 | EPS CAGR: -7.18% | SUE: -0.20 | # QB: 0
Revenue Correlation: 97.62 | Revenue CAGR: 6.66% | SUE: 0.02 | # QB: 0
EPS next Quarter (2026-03-31): EPS=1.47 | Chg30d=+0.039 | Revisions Net=+2 | Analysts=3
EPS next Year (2026-12-31): EPS=6.03 | Chg30d=+0.256 | Revisions Net=+3 | Growth EPS=+3.9% | Growth Revenue=+3.5%

Additional Sources for ESS Stock

News: Wall Street Journal | Benzinga | Yahoo Finance
Tweets: X | Stocktwits
Fund Manager Positions: Dataroma | Stockcircle