(ESS) Essex Property Trust - Overview

Sector: Real Estate | Industry: REIT - Residential | Exchange: NYSE (USA) | Market Cap: 17.101m USD | Total Return: -1.6% in 12m

Apartments, Rentals, Housing, Real Estate
Total Rating 46
Safety 65
Buy Signal 0.14
REIT - Residential
Industry Rotation: -2.7
Market Cap: 17.1B
Avg Turnover: 120M USD
ATR: 2.14%
Peers RS (IBD): 56.7
Risk 5d forecast
Volatility21.3%
Rel. Tail Risk1.06%
Reward TTM
Sharpe Ratio-0.28
Alpha-23.87
Character TTM
Beta0.368
Beta Downside0.250
Drawdowns 3y
Max DD20.77%
CAGR/Max DD0.47
EPS (Earnings per Share) EPS (Earnings per Share) of ESS over the last years for every Quarter: "2021-03": 2.59, "2021-06": 1, "2021-09": 1.82, "2021-12": 2.1, "2022-03": 1.12, "2022-06": 0.87, "2022-09": 1.43, "2022-12": 2.86, "2023-03": 2.38, "2023-06": 1.55, "2023-09": 1.36, "2023-12": 1.02, "2024-03": 4.25, "2024-06": 1.45, "2024-09": 1.34, "2024-12": 0.65, "2025-03": 1.44, "2025-06": 1.48, "2025-09": 1.5881, "2025-12": 1.25,
EPS CAGR: 2.97%
EPS Trend: -7.1%
Last SUE: -0.18
Qual. Beats: 0
Revenue Revenue of ESS over the last years for every Quarter: 2021-03: 355.125, 2021-06: 350.978, 2021-09: 362.857, 2021-12: 371.596, 2022-03: 381.905, 2022-06: 399.978, 2022-09: 409.748, 2022-12: 415.183, 2023-03: 412.421, 2023-06: 416.043, 2023-09: 419.183, 2023-12: 421.748, 2024-03: 439.294, 2024-06: 442.355, 2024-09: 462.347, 2024-12: 454.469, 2025-03: 477.792, 2025-06: 469.833, 2025-09: 473.303, 2025-12: 479.63,
Rev. CAGR: 6.26%
Rev. Trend: 97.3%
Last SUE: 3.23
Qual. Beats: 1

Warnings

Altman Z'' 0.05 < 1.0 - financial distress zone

Tailwinds

No distinct edge detected

Description: ESS Essex Property Trust

Essex Property Trust Inc. (ESS) is a Real Estate Investment Trust (REIT) focused on multifamily residential properties. REITs are companies that own, operate, or finance income-producing real estate.

The company acquires, develops, redevelops, and manages apartment communities. Its operations are concentrated in West Coast markets, a region often characterized by high demand and limited housing supply.

Essex holds ownership interests in 257 apartment communities, totaling over 62,000 apartment homes, with one additional property under development. Investors can find detailed financial analysis of ESS on ValueRay.

Headlines to Watch Out For
  • West Coast apartment demand boosts rental income
  • Interest rate hikes increase borrowing costs
  • Regulatory changes impact development approvals
  • Economic downturns reduce occupancy rates
  • Property taxes and operating expenses compress margins
Piotroski VR‑10 (Strict) 4.5
Net Income: 672.5m TTM > 0 and > 6% of Revenue
FCF/TA: 0.07 > 0.02 and ΔFCF/TA 0.19 > 1.0
NWC/Revenue: 6.75% < 20% (prev -9.90%; Δ 16.66% < -1%)
CFO/TA 0.08 > 3% & CFO 1.07b > Net Income 672.5m
Net Debt (6.82b) to EBITDA (1.45b): 4.72 < 3
Current Ratio: 2.30 > 1.5 & < 3
Outstanding Shares: last quarter (64.5m) vs 12m ago 0.32% < -2%
Gross Margin: 68.82% > 18% (prev 0.55%; Δ 6.83k% > 0.5%)
Asset Turnover: 14.57% > 50% (prev 13.91%; Δ 0.66% > 0%)
Interest Coverage Ratio: 3.26 > 6 (EBITDA TTM 1.45b / Interest Expense TTM 257.3m)
Altman Z'' 0.05
A: 0.01 (Total Current Assets 227.2m - Total Current Liabilities 98.8m) / Total Assets 13.16b
B: -0.09 (Retained Earnings -1.15b / Total Assets 13.16b)
C: 0.06 (EBIT TTM 837.6m / Avg Total Assets 13.04b)
D: -0.15 (Book Value of Equity -1.14b / Total Liabilities 7.42b)
Altman-Z'' Score: 0.05 = B
Beneish M -3.48
DSRI: 0.65 (Receivables 141.6m/206.7m, Revenue 1.90b/1.80b)
GMI: 0.80 (GM 68.82% / 54.95%)
AQI: 1.01 (AQ_t 0.98 / AQ_t-1 0.97)
SGI: 1.06 (Revenue 1.90b / 1.80b)
TATA: -0.03 (NI 672.5m - CFO 1.07b) / TA 13.16b)
Beneish M-Score: -3.48 (Cap -4..+1) = AA
What is the price of ESS shares? As of April 08, 2026, the stock is trading at USD 248.30 with a total of 231,076 shares traded.
Over the past week, the price has changed by +2.60%, over one month by -1.71%, over three months by -0.03% and over the past year by -1.57%.
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.
  • StrongBuy: 3
  • Buy: 6
  • Hold: 16
  • Sell: 1
  • StrongSell: 1
What are the forecasts/targets for the ESS price?
Analysts Target Price 279.2 12.5%
Essex Property Trust (ESS) - Fundamental Data Overview as of 05 April 2026
P/E Trailing = 23.8056
P/E Forward = 44.0529
P/S = 8.836
P/B = 2.8779
P/EG = 7.0183
Revenue TTM = 1.90b USD
EBIT TTM = 837.6m USD
EBITDA TTM = 1.45b USD
Long Term Debt = 6.80b USD (from longTermDebt, last quarter)
Short Term Debt = 549.4m USD (from shortTermDebt, last quarter)
Debt = 6.90b USD (from shortLongTermDebtTotal, last quarter)
Net Debt = 6.82b USD (from netDebt column, last quarter)
Enterprise Value = 23.92b USD (17.10b + Debt 6.90b - CCE 85.6m)
Interest Coverage Ratio = 3.26 (Ebit TTM 837.6m / Interest Expense TTM 257.3m)
EV/FCF = 24.57x (Enterprise Value 23.92b / FCF TTM 973.6m)
FCF Yield = 4.07% (FCF TTM 973.6m / Enterprise Value 23.92b)
FCF Margin = 51.23% (FCF TTM 973.6m / Revenue TTM 1.90b)
Net Margin = 35.38% (Net Income TTM 672.5m / Revenue TTM 1.90b)
Gross Margin = 68.82% ((Revenue TTM 1.90b - Cost of Revenue TTM 592.6m) / Revenue TTM)
Gross Margin QoQ = 68.56% (prev 69.69%)
Tobins Q-Ratio = 1.82 (Enterprise Value 23.92b / Total Assets 13.16b)
Interest Expense / Debt = 0.94% (Interest Expense 64.6m / Debt 6.90b)
Taxrate = 0.32% (257k / 80.9m)
NOPAT = 835.0m (EBIT 837.6m * (1 - 0.32%))
Current Ratio = 2.30 (Total Current Assets 227.2m / Total Current Liabilities 98.8m)
Debt / Equity = 1.25 (Debt 6.90b / totalStockholderEquity, last quarter 5.54b)
Debt / EBITDA = 4.72 (Net Debt 6.82b / EBITDA 1.45b)
Debt / FCF = 7.00 (Net Debt 6.82b / FCF TTM 973.6m)
Total Stockholder Equity = 5.59b (last 4 quarters mean from totalStockholderEquity)
RoA = 5.16% (Net Income 672.5m / Total Assets 13.16b)
RoE = 12.02% (Net Income TTM 672.5m / Total Stockholder Equity 5.59b)
RoCE = 6.76% (EBIT 837.6m / Capital Employed (Equity 5.59b + L.T.Debt 6.80b))
RoIC = 6.76% (NOPAT 835.0m / Invested Capital 12.35b)
WACC = 5.45% (E(17.10b)/V(24.00b) * Re(7.28%) + D(6.90b)/V(24.00b) * Rd(0.94%) * (1-Tc(0.00)))
Discount Rate = 7.28% (= CAPM, Blume Beta Adj.) -> floored to rf + 0.7*ERP = 7.92%
Shares Correlation 3-Years: 100.0 | Cagr: 0.21%
[DCF] Terminal Value 86.63% ; FCFF base≈956.9m ; Y1≈986.4m ; Y5≈1.11b
[DCF] Fair Price = 404.9 (EV 32.93b - Net Debt 6.82b = Equity 26.11b / Shares 64.5m; r=6.0% [WACC]; 5y FCF grow 3.09% → 3.0% )
EPS Correlation: -7.08 | EPS CAGR: 2.97% | SUE: -0.18 | # QB: 0
Revenue Correlation: 97.32 | Revenue CAGR: 6.26% | SUE: 3.23 | # QB: 1
EPS next Quarter (2026-06-30): EPS=1.52 | Chg7d=+0.008 | Chg30d=+0.008 | Revisions Net=-1 | Analysts=5
EPS current Year (2026-12-31): EPS=5.80 | Chg7d=+0.053 | Chg30d=-0.045 | Revisions Net=-2 | Growth EPS=+0.6% | Growth Revenue=+3.8%
EPS next Year (2027-12-31): EPS=6.15 | Chg7d=-0.134 | Chg30d=-0.216 | Revisions Net=-1 | Growth EPS=+6.0% | Growth Revenue=+3.3%
[Analyst] Revisions Ratio: -1.00 (0 Up / 1 Down within 30d for Next Quarter)
[Growth] Implied Growth Rate = 3.7% (Discount Rate 7.9% - Earnings Yield 4.2%)
[Growth] Growth Spread = +0.2% (Analyst 3.9% - Implied 3.7%)
External Resources
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