(ESS) Essex Property Trust - Overview
Exchange: NYSE •
Country: United States •
Currency: USD •
Type: Common Stock •
ISIN: US2971781057
Stock: Multifamily Properties, Apartments, Real Estate
Total Rating 34
Risk 53
Buy Signal -0.22
EPS (Earnings per Share)
Revenue
Dividends
| Dividend Yield | 3.71% |
| Yield on Cost 5y | 4.70% |
| Yield CAGR 5y | 5.00% |
| Payout Consistency | 99.4% |
| Payout Ratio | 1.8% |
| Risk 5d forecast | |
|---|---|
| Volatility | 22.6% |
| Relative Tail Risk | 0.92% |
| Reward TTM | |
|---|---|
| Sharpe Ratio | -0.49 |
| Alpha | -20.92 |
| Character TTM | |
|---|---|
| Beta | 0.637 |
| Beta Downside | 0.838 |
| Drawdowns 3y | |
|---|---|
| Max DD | 19.07% |
| CAGR/Max DD | 0.39 |
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) 5.5
| Net Income: 672.5m TTM > 0 and > 6% of Revenue |
| FCF/TA: 0.06 > 0.02 and ΔFCF/TA -1.59 > 1.0 |
| NWC/Revenue: -27.33% < 20% (prev -10.04%; Δ -17.29% < -1%) |
| CFO/TA 0.06 > 3% & CFO 840.2m > Net Income 672.5m |
| Net Debt (-85.6m) to EBITDA (1.45b): -0.06 < 3 |
| Current Ratio: 0.26 > 1.5 & < 3 |
| Outstanding Shares: last quarter (64.5m) vs 12m ago 0.32% < -2% |
| Gross Margin: 68.82% > 18% (prev 0.64%; Δ 6818 % > 0.5%) |
| Asset Turnover: 14.57% > 50% (prev 13.73%; Δ 0.84% > 0%) |
| Interest Coverage Ratio: 3.26 > 6 (EBITDA TTM 1.45b / Interest Expense TTM 257.3m) |
Altman Z'' -0.09
| A: -0.04 (Total Current Assets 183.7m - Total Current Liabilities 703.0m) / Total Assets 13.16b |
| B: -0.08 (Retained Earnings -1.06b / Total Assets 13.16b) |
| C: 0.06 (EBIT TTM 838.0m / Avg Total Assets 13.04b) |
| D: 0.00 (Book Value of Equity 6.05m / Total Liabilities 7.42b) |
| Altman-Z'' Score: -0.09 = B |
What is the price of ESS shares?
As of February 07, 2026, the stock is trading at USD 258.06 with a total of 947,087 shares traded.
Over the past week, the price has changed by +2.46%, over one month by +0.57%, over three months by +1.70% and over the past year by -10.16%.
Over the past week, the price has changed by +2.46%, over one month by +0.57%, over three months by +1.70% and over the past year by -10.16%.
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?
| Issuer | Target | Up/Down from current |
|---|---|---|
| Wallstreet Target Price | 282.2 | 9.3% |
| Analysts Target Price | 282.2 | 9.3% |
| ValueRay Target Price | 266 | 3.1% |
ESS Fundamental Data Overview February 07, 2026
P/E Trailing = 24.2751
P/E Forward = 42.0168
P/S = 9.0674
P/B = 2.9355
P/EG = 7.395
Revenue TTM = 1.90b USD
EBIT TTM = 838.0m USD
EBITDA TTM = 1.45b USD
Long Term Debt = 6.42b USD (from longTermDebt, two quarters ago)
Short Term Debt = 245.0m USD (from shortTermDebt, two quarters ago)
Debt = 6.71b USD (from shortLongTermDebtTotal, two quarters ago)
Net Debt = -85.6m USD (from netDebt column, last quarter)
Enterprise Value = 23.91b USD (17.38b + Debt 6.71b - CCE 183.7m)
Interest Coverage Ratio = 3.26 (Ebit TTM 838.0m / Interest Expense TTM 257.3m)
EV/FCF = 32.34x (Enterprise Value 23.91b / FCF TTM 739.4m)
FCF Yield = 3.09% (FCF TTM 739.4m / Enterprise Value 23.91b)
FCF Margin = 38.90% (FCF TTM 739.4m / 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 23.91b / Total Assets 13.16b)
Interest Expense / Debt = 0.96% (Interest Expense 64.6m / Debt 6.71b)
Taxrate = 0.32% (257.0k / 80.9m)
NOPAT = 835.3m (EBIT 838.0m * (1 - 0.32%))
Current Ratio = 0.26 (Total Current Assets 183.7m / Total Current Liabilities 703.0m)
Debt / Equity = 1.21 (Debt 6.71b / totalStockholderEquity, last quarter 5.54b)
Debt / EBITDA = -0.06 (Net Debt -85.6m / EBITDA 1.45b)
Debt / FCF = -0.12 (Net Debt -85.6m / FCF TTM 739.4m)
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 = 6.98% (EBIT 838.0m / Capital Employed (Equity 5.59b + L.T.Debt 6.42b))
RoIC = 6.76% (NOPAT 835.3m / Invested Capital 12.35b)
WACC = 6.23% (E(17.38b)/V(24.09b) * Re(8.26%) + D(6.71b)/V(24.09b) * Rd(0.96%) * (1-Tc(0.00)))
Discount Rate = 8.26% (= CAPM, Blume Beta Adj.)
Shares Correlation 3-Years: 100.0 | Cagr: 0.21%
[DCF Debug] Terminal Value 85.31% ; FCFF base≈816.4m ; Y1≈841.4m ; Y5≈946.3m
Fair Price DCF = 395.1 (EV 25.38b - Net Debt -85.6m = Equity 25.46b / Shares 64.4m; r=6.23% [WACC]; 5y FCF grow 3.09% → 2.90% )
EPS Correlation: -7.08 | EPS CAGR: 2.97% | SUE: -0.18 | # QB: 0
Revenue Correlation: 97.37 | Revenue CAGR: 6.26% | SUE: 3.14 | # QB: 1
EPS next Quarter (2026-03-31): EPS=1.46 | Chg30d=-0.008 | Revisions Net=+2 | Analysts=4
EPS current Year (2026-12-31): EPS=5.95 | Chg30d=-0.018 | Revisions Net=+3 | Growth EPS=+3.3% | Growth Revenue=+3.4%
EPS next Year (2027-12-31): EPS=6.34 | Chg30d=-0.037 | Revisions Net=+1 | Growth EPS=+6.6% | Growth Revenue=+3.5%
P/E Forward = 42.0168
P/S = 9.0674
P/B = 2.9355
P/EG = 7.395
Revenue TTM = 1.90b USD
EBIT TTM = 838.0m USD
EBITDA TTM = 1.45b USD
Long Term Debt = 6.42b USD (from longTermDebt, two quarters ago)
Short Term Debt = 245.0m USD (from shortTermDebt, two quarters ago)
Debt = 6.71b USD (from shortLongTermDebtTotal, two quarters ago)
Net Debt = -85.6m USD (from netDebt column, last quarter)
Enterprise Value = 23.91b USD (17.38b + Debt 6.71b - CCE 183.7m)
Interest Coverage Ratio = 3.26 (Ebit TTM 838.0m / Interest Expense TTM 257.3m)
EV/FCF = 32.34x (Enterprise Value 23.91b / FCF TTM 739.4m)
FCF Yield = 3.09% (FCF TTM 739.4m / Enterprise Value 23.91b)
FCF Margin = 38.90% (FCF TTM 739.4m / 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 23.91b / Total Assets 13.16b)
Interest Expense / Debt = 0.96% (Interest Expense 64.6m / Debt 6.71b)
Taxrate = 0.32% (257.0k / 80.9m)
NOPAT = 835.3m (EBIT 838.0m * (1 - 0.32%))
Current Ratio = 0.26 (Total Current Assets 183.7m / Total Current Liabilities 703.0m)
Debt / Equity = 1.21 (Debt 6.71b / totalStockholderEquity, last quarter 5.54b)
Debt / EBITDA = -0.06 (Net Debt -85.6m / EBITDA 1.45b)
Debt / FCF = -0.12 (Net Debt -85.6m / FCF TTM 739.4m)
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 = 6.98% (EBIT 838.0m / Capital Employed (Equity 5.59b + L.T.Debt 6.42b))
RoIC = 6.76% (NOPAT 835.3m / Invested Capital 12.35b)
WACC = 6.23% (E(17.38b)/V(24.09b) * Re(8.26%) + D(6.71b)/V(24.09b) * Rd(0.96%) * (1-Tc(0.00)))
Discount Rate = 8.26% (= CAPM, Blume Beta Adj.)
Shares Correlation 3-Years: 100.0 | Cagr: 0.21%
[DCF Debug] Terminal Value 85.31% ; FCFF base≈816.4m ; Y1≈841.4m ; Y5≈946.3m
Fair Price DCF = 395.1 (EV 25.38b - Net Debt -85.6m = Equity 25.46b / Shares 64.4m; r=6.23% [WACC]; 5y FCF grow 3.09% → 2.90% )
EPS Correlation: -7.08 | EPS CAGR: 2.97% | SUE: -0.18 | # QB: 0
Revenue Correlation: 97.37 | Revenue CAGR: 6.26% | SUE: 3.14 | # QB: 1
EPS next Quarter (2026-03-31): EPS=1.46 | Chg30d=-0.008 | Revisions Net=+2 | Analysts=4
EPS current Year (2026-12-31): EPS=5.95 | Chg30d=-0.018 | Revisions Net=+3 | Growth EPS=+3.3% | Growth Revenue=+3.4%
EPS next Year (2027-12-31): EPS=6.34 | Chg30d=-0.037 | Revisions Net=+1 | Growth EPS=+6.6% | Growth Revenue=+3.5%