ESS
NYSE · USDEssex Property Trust, Inc.
Real Estate · REIT - Residential
CEO Angela L. Kleiman
Employees 1,689
R&D / revenue 0.0%
Last price
$269.43−0.09%last session
Market cap
$17.3B
P/E (TTM)
41.9x
From 52w high
−11.2%
From 52w low
+13.0%
1-year return
+4.6%
RSI 14 · vs SMA200
44.3 · +0.4%
IS score
41.2/ 100
Factor model across 8 sub-scores, ranked against 3,010 US stocks. Describes the business, not the outlook.
Download full factsheet (PDF)
One year, rebased to 100
ESS SPY XLRE (sector ETF) · weekly closesScore DNA
Each bar is a 0-100 score within the scored universe53Profitability
25Growth
40Value
58Momentum
30Risk (safety)
65Quality
33Balance sheet
84Earnings quality
Flags
Strengths
✓ FCF yield 5%+
Warnings
▲ Altman distress zone▲ Share count rising
Observations
Moat model: Weak, Switching CostsPiotroski 4 / 9Altman Z 1.7Beta 0.712 of 4 smart-money sources active
Smart-money strip
Each disclosure source on its own window. Filings coinciding is not coordination.INSForm 4 · 180 days
Insider open-market buys
0
1 open-market sales, $167,670
Form 144 notices (12m): 1, $167,670 proposed, not confirmed sales
CONGSTOCK Act · 180 days
Congressional purchases
0
No disclosed purchases
Members disclose in ranges, 30-45 days after the trade
13F13F · quarter to 2026-06-30
Net change in institutional holders
+23
75 new holders, 50 closed
636 filers hold 102.5% · 273 added, 189 trimmed
ETFETF holdings · 30 days
Net funds accumulating
+72
796 funds adding shares
724 funds trimming · counts of funds, not dollars
DARKFINRA · daily
Short-sale share of off-exchange volume
73.5%
20-day avg 74.2%, 50-day avg 68.1%
Latest 0.7 pp under its 20-day average · a flow, not short interest
Key financials · FY2025
USD, fiscal year. Stock-based compensation is non-cash; shown against FCF.Income statement
Revenue$1.9B
Revenue growth YoY+7.1%
Gross margin68.8%
Operating income$834.0M
Operating margin43.9%
Net income$672.5M
Net margin35.4%
EPS (diluted)$10.41
Cash flow
Operating cash flow$1.1B
Capital expenditure$0
Free cash flow$1.1B
FCF conversion (FCF / OCF)100.0%
Stock-based compensation$10.2M
FCF less SBC$1.1B
Buybacks$8.1M
Dividends$654.1M
Balance sheet & returns
Cash & short-term investments$183.7M
Total debt$6.9B
Net debt$6.7B
Shareholders' equity$5.7B
Goodwill & intangibles$7.5M
Debt / equity1.27
ROE (TTM)7.6%
ROIC (TTM)269.7%
Operating margin by fiscal year
Revenue $1.4B (FY2021) to $1.9B (FY2025), a 7.2% CAGR.
Valuation
P/E (TTM)41.9x
EV / EBITDA18.4x
Price / sales8.99x
Price / FCF16.6x
FCF yield6.02%
Buyback yield0.05%
SBC / revenue0.3%
Price / book3.26x
Forward P/E FY202648.4x
Forward P/E FY202742.5x
Forward P/E FY202839.4x
Forward multiples divide today's price by Street EPS estimates. Street mean target $309.27 across 14 analysts last quarter is theirs, not ours.
ESS vs industry median
40 companies in REIT - Residential
ESS (TTM)Industry median
Asset turnover 0.15 vs industry 0.13 · financial leverage 2.42
Earnings delivery
Next report 2026-10-27 · consensus EPS $1.47100%
beat rate, 12 of 12 quarters
+1.2%
median EPS surprise
12
longest beat streak
EPS surprise in % vs the consensus at the time, oldest (left) to newest, 2023-07-27 to 2026-04-28. Bars cap at ±60%.
Peers
Market-cap band, not the industry cohort above| Company | Mkt cap | P/E | ROE | Net margin | Rev growth | 12m return |
|---|---|---|---|---|---|---|
| ESS Essex Property Trust, Inc. | $17.3B | 41.9x | 7.6% | 21.6% | +7.1% | +4.6% |
| INVH Invitation Homes Inc. | $16.0B | 24.8x | 7.1% | 29.3% | +6.7% | −4.9% |
| SUI Sun Communities, Inc. | $14.4B | n/m | -13.4% | — | −20.0% | −4.5% |
| MAA Mid-America Apartment Commun | $13.5B | 34.1x | 7.1% | 21.9% | +0.8% | −11.3% |
| EQR Equity Residential | $23.9B | 27.6x | 8.1% | 14.5% | +3.0% | +4.6% |
| ELS Equity LifeStyle Properties, | $11.9B | 30.6x | 23.0% | 24.2% | +9.6% | — |
| AVB AvalonBay Communities, Inc. | $26.3B | 25.2x | 8.6% | 20.0% | +3.4% | — |
| AMH American Homes 4 Rent | $11.2B | 24.8x | 6.8% | 24.9% | +4.5% | — |
12-month window: SPY +15.9%, sector ETF XLRE +0.9%. Past returns describe history only.
Recent 8-K filings
No 8-K filings on file.
Context
Shares outstanding64,261,739
Free float98.9%
Institutional ownership102.5%
Beta0.71
Dividend yield3.84%
Last dividend$2.59 on 2026-09-30
50 / 200-day average$277.45 / $268.86
Large-cap Real Estate median P/E26.2x
Full factsheet
The PDF carries everything on this page plus the cash-allocation waterfall, Form 144 notices, 13F holder detail, dark-pool and short-flow history, seasonality and the moat assessment (Weak).
Read it in the browser Download (PDF)All fundamentals · 140 measures in 13 categories
Percentile = where ESS sits among 13 scored companies in REIT - Residential (0 = lowest value, 100 = highest). It is a position, not a grade.ValuationProfitability (TTM)Returns on capitalGrowthMargin history & stabilityLiquidity (latest quarter)Leverage & solvency (latest quarter)EfficiencyCash flow & earnings qualityDividends & buybacksScores & forensic checksPer shareSize (TTM)
Valuation
| Measure | ESS | Industry percentile |
|---|---|---|
| P/E (TTM) | 41.6x | 89th |
| PEG (P/E ÷ 3-yr EPS CAGR) | — | |
| Price / sales | 9.0x | 100th |
| Price / book | 3.3x | 83rd |
| Price / tangible book | 3.5x | 83rd |
| Price / free cash flow | 16.6x | 58th |
| Price / operating cash flow | 15.5x | 83rd |
| Enterprise value | $23.9B | 92nd |
| EV / sales | 12.4x | 100th |
| EV / EBITDA | 18.3x | 75th |
| EV / EBIT | 34.6x | 64th |
| EV / free cash flow | 22.9x | 50th |
| Earnings yield | 2.4% | 33rd |
| FCF yield | 6.0% | 42nd |
| Operating cash flow yield | 6.5% | 17th |
| Graham number (per share) | $109.59 | 100th |
Profitability (TTM)
| Measure | ESS | Industry percentile |
|---|---|---|
| Gross margin | 69.4% | 83rd |
| EBITDA margin | 67.7% | 73rd |
| Operating margin | 29.1% | 67th |
| EBIT margin | 35.9% | 73rd |
| Net margin | 21.6% | 58th |
| NOPAT margin | 29.1% | 75th |
| FCF margin | 54.1% | 100th |
| Operating cash flow margin | 58.0% | 100th |
| R&D / revenue | 0.0% | 0th |
| SG&A / revenue | 6.7% | 67th |
| Stock comp / revenue | 0.3% | 17th |
| Effective tax rate | 0.1% | 33rd |
Returns on capital
| Measure | ESS | Industry percentile |
|---|---|---|
| ROE (on average equity) | 7.6% | 67th |
| ROA | 3.2% | 42nd |
| ROIC | 4.7% | 58th |
| ROCE | 5.6% | 67th |
| Return on tangible assets | 5.3% | 67th |
| Cash ROIC (OCF / invested capital) | 9.4% | 67th |
| Gross profitability (GP / assets) | 10.4% | 75th |
| ROIC, 3-yr average | 5.2% | 91st |
| ROIC, 5-yr average | 4.7% | 82nd |
| ROE, 5-yr average | 9.5% | 91st |
| Incremental ROIC | 63.7% | 75th |
Growth
| Measure | ESS | Industry percentile |
|---|---|---|
| Revenue growth (TTM YoY) | 4.7% | 67th |
| Revenue growth (QoQ) | 0.9% | 42nd |
| Revenue CAGR, 3 yr | 5.2% | 73rd |
| Revenue CAGR, 5 yr | 6.0% | 27th |
| Gross profit CAGR, 3 yr | -0.4% | 64th |
| Operating income CAGR, 3 yr | -6.2% | 36th |
| Net income growth (TTM YoY) | -47.9% | 0th |
| Net income CAGR, 3 yr | -7.8% | 29th |
| EPS growth (TTM YoY) | -48.0% | 0th |
| EPS CAGR, 3 yr | -7.9% | 29th |
| EPS CAGR, 5 yr | 0.9% | 38th |
| FCF growth (TTM YoY) | 16.8% | 45th |
| FCF CAGR, 3 yr | 9.3% | 50th |
| Operating cash flow CAGR, 3 yr | 5.4% | 64th |
| Book value CAGR, 3 yr | -1.7% | 73rd |
| Dividend CAGR, 3 yr | 1.2% | 55th |
| Sustainable growth rate | -4.5% | 33rd |
Margin history & stability
| Measure | ESS | Industry percentile |
|---|---|---|
| Gross margin, 3-yr average | 71.7% | 100th |
| Operating margin, 3-yr average | 37.6% | 91st |
| Net margin, 3-yr average | 31.8% | 100th |
| FCF margin, 3-yr average | 51.4% | 100th |
| Revenue stability (0-1) | 0.99 | 91st |
| Earnings stability (0-1) | 0.20 | 55th |
| Margin stability (0-1) | 0.88 | 64th |
Liquidity (latest quarter)
| Measure | ESS | Industry percentile |
|---|---|---|
| Cash & short-term investments | $158.5M | 92nd |
| Net cash (− = net debt) | −$6.6B | 8th |
| Working capital | −$285.4M | 17th |
| Current ratio | 0.36 | 36th |
| Quick ratio | 0.36 | 36th |
| Cash ratio (cash + ST investments / current liabilities) | 0.36 | 67th |
| Defensive interval (days) | 120 days | 20th |
Leverage & solvency (latest quarter)
| Measure | ESS | Industry percentile |
|---|---|---|
| Total debt | $6.7B | 92nd |
| Debt / equity | 1.27 | 58th |
| Net debt / equity | 1.24 | 58th |
| Debt / assets | 52.3% | 67th |
| Debt / capital | 55.9% | 58th |
| Debt / EBITDA | 5.17 | 67th |
| Net debt / EBITDA | 5.05 | 67th |
| Interest coverage (EBIT / interest) | 2.7x | 50th |
| Cash interest coverage | 4.3x | 58th |
| Debt payback (years of OCF) | 6.0 yrs | 50th |
| Liabilities / assets | 57.3% | 67th |
| IS credit model rating | BB- | |
| Implied credit spread (bps) | 550 | 67th |
Efficiency
| Measure | ESS | Industry percentile |
|---|---|---|
| Asset turnover | 0.15 | 42nd |
| Fixed asset turnover | 39.26 | 100th |
| Inventory turnover | 24.8 | |
| Receivables turnover | 26.1 | 67th |
| Days sales outstanding | 14 days | 50th |
| Days inventory outstanding | 15 days | |
| Days payables outstanding | 142 days | 92nd |
| Cash conversion cycle (days) | −113 days | 9th |
| Capex / revenue | 3.9% | 20th |
| Capex / depreciation | 0.12 | 0th |
| Operating expense ratio | 46.4% | 62nd |
Cash flow & earnings quality
| Measure | ESS | Industry percentile |
|---|---|---|
| Operating cash flow / net income | 2.68 | 67th |
| FCF / net income | 2.50 | 78th |
| FCF / operating cash flow | 93.2% | 90th |
| Capex / operating cash flow | 6.8% | 10th |
| Accruals ratio | -5.4% | 33rd |
| Sloan accruals ratio | -3.7% | 33rd |
| Earnings quality score (0-1) | 0.75 | 0th |
Scores & forensic checks
| Measure | ESS | Industry percentile |
|---|---|---|
| IS score | 41 | 42nd |
| IS profitability | 53 | 50th |
| IS growth | 25 | 17th |
| IS value | 40 | 8th |
| IS momentum | 58 | 25th |
| IS risk (safety) | 30 | 42nd |
| IS quality | 65 | 42nd |
| IS balance sheet | 33 | 33rd |
| IS earnings quality | 84 | 50th |
| IS cash flow | 81 | 50th |
| Piotroski F-score (0-9) | 4 | 0th |
| Altman Z-score | 1.7 | 83rd |
| Beneish M-score | −3.40 | 55th |
| Ohlson O-score | −7.29 | 58th |
| IS credit score | 37 | 33rd |
Size (TTM)
| Measure | ESS | Industry percentile |
|---|---|---|
| Market cap | $17.3B | 100th |
| Revenue | $1.9B | 75th |
| EBITDA | $1.3B | 83rd |
| Net income | $416.7M | 67th |
| Free cash flow | $1.0B | 83rd |
| Total assets | $12.9B | 83rd |
| Shareholders' equity | $5.3B | 58th |
| Employees | 1,688 | 67th |
Insider transactions, last 6 months
Form 4 · most recent 12| Date | Insider | Type | Shares | Price | Value | Owned after |
|---|---|---|---|---|---|---|
| 2026-05-27 | Kasaris Mary Director |
Open-market sale | 600 | $279.45 | $167,670 | 2,394 |
| 2026-05-12 | Guericke Keith R Director |
Award / grant | 633 | — | — | 17,357 |
| 2026-05-12 | Arabia John V Director |
Award / grant | 633 | — | — | 1,824 |
| 2026-05-12 | Marcus George M Director |
Award / grant | 1,117 | — | — | 223,042 |
| 2026-05-12 | Johnson Amal M Director |
Award / grant | 633 | — | — | 3,824 |
| 2026-05-12 | Hawthorne Maria R Director |
Award / grant | 633 | — | — | 3,711 |
| 2026-05-12 | Kasaris Mary Director |
Award / grant | 633 | — | — | 2,994 |
| 2026-05-12 | Lyons Irving F Iii Director |
Award / grant | 633 | — | — | 9,809 |
| 2026-05-12 | Gust Anne B Director |
Award / grant | 633 | — | — | 1,830 |
Shares acquired vs disposed, by month
acquired disposed · all Form 4 typesBy transaction type, 6 months
| Type | Direction | Filings | Shares | Value |
|---|---|---|---|---|
| Award / grant | Acquired | 8 | 5,548 | — |
| Open-market sale | Disposed | 1 | 600 | $167,670 |
Awards, option exercises and tax withholding are compensation mechanics; open-market buys and sales are the discretionary ones.
Form 144 notices
12 months: 1 notices · 600 shares · $167,670| Filed | Filer | Shares proposed | Est. proceeds |
|---|---|---|---|
| 2026-05-27 | Kasaris Mary | 600 | $167,670 |
| 2025-03-11 | Kasaris Mary | 2,800 | $842,240 |
| 2025-03-04 | Kleiman Angela L. | 400 | $126,046 |
| 2025-03-03 | Guericke Keith R | 7,298 | $2.3M |
A Form 144 is notice of a proposed sale, not a confirmed one.
Congress trades
12 months: House 4 trades (0 purchases) · Senate 0 (0 purchases)| Traded | Member | Chamber | Type | Amount | Disclosed |
|---|---|---|---|---|---|
| 2026-01-13 | Ro Khanna | House | Sale | $1,001 - $15,000 | 2026-02-10 |
| 2026-01-07 | Rick Larsen | House | Sale | $1,001 - $15,000 | 2026-01-15 |
| 2026-01-07 | Richard Ray Larsen | House | Sale (Full) | $1,001 - $15,000 | 2026-01-15 |
| 2026-01-06 | Richard Ray Larsen | House | Sale (Full) | $1,001 - $15,000 | 2026-01-15 |
| 2023-04-18 | Sheldon Whitehouse | Senate | Sale (Full) | $1,001 - $15,000 | 2023-05-17 |
| 2023-04-18 | Sheldon Whitehouse | Senate | Sale (Full) | $1,001 - $15,000 | 2023-05-17 |
| 2023-04-18 | Sheldon Whitehouse | Senate | Sale (Full) | $1,001 - $15,000 | 2023-05-16 |
| 2023-04-18 | Sheldon Whitehouse | Senate | Sale (Full) | $1,001 - $15,000 | 2023-05-16 |
STOCK Act disclosures, in ranges, filed up to 45 days after the trade.
Largest 13F holders
Quarter to 2026-06-30, the latest most managers have filed| Manager | Shares | Value | % of shares out |
|---|---|---|---|
| BlackRock, Inc. | 7,430,141 | $2.2B | 11.56% |
| VANGUARD PORTFOLIO MANAGEMENT LLC | 5,490,501 | $1.6B | 8.54% |
| STATE STREET CORP | 5,211,810 | $1.5B | 8.11% |
| COHEN & STEERS, INC. | 4,914,673 | $1.4B | 7.65% |
| VANGUARD CAPITAL MANAGEMENT LLC | 4,202,889 | $1.2B | 6.54% |
| PRICE T ROWE ASSOCIATES INC /MD/ | 3,357,197 | $978.9M | 5.22% |
| PRINCIPAL FINANCIAL GROUP INC | 2,092,902 | $610.3M | 3.26% |
| GEODE CAPITAL MANAGEMENT, LLC | 1,953,203 | $567.5M | 3.04% |
| NORGES BANK | 1,607,742 | $468.8M | 2.50% |
| Invesco Ltd. | 1,125,265 | $328.1M | 1.75% |
| Resolution Capital Ltd | 1,027,680 | $299.7M | 1.60% |
| DIMENSIONAL FUND ADVISORS LP | 1,000,799 | $291.8M | 1.56% |
| CHARLES SCHWAB INVESTMENT MANAGEMENT INC | 939,646 | $274.0M | 1.46% |
| Sixth Street Partners Management Company, L.P. | 939,646 | $274.0M | 1.46% |
| Legal & General Group Plc | 892,526 | $260.3M | 1.39% |
Institutional ownership by quarter
% of shares held by 13F filers
Number of 13F filers holding
Holder changes by quarter
| Quarter | Holders | Ownership | New | Increased | Reduced | Closed |
|---|---|---|---|---|---|---|
| 2026-06-30 | 636 | 102.5% | 75 | 273 | 189 | 50 |
| 2026-03-31 | 613 | 96.6% | 73 | 221 | 228 | 69 |
| 2025-12-31 | 622 | 100.0% | 83 | 235 | 205 | 58 |
| 2025-09-30 | 608 | 99.4% | 61 | 220 | 225 | 70 |
| 2025-06-30 | 625 | 99.3% | 72 | 239 | 222 | 69 |
| 2025-03-31 | 630 | 101.9% | 80 | 259 | 198 | 78 |
| 2024-12-31 | 635 | 94.5% | 91 | 231 | 206 | 56 |
| 2024-09-30 | 610 | 94.1% | 82 | 216 | 210 | 47 |
| 2024-06-30 | 582 | 95.5% | 87 | 196 | 211 | 47 |
| 2024-03-31 | 547 | 97.6% | 61 | 206 | 179 | 56 |
| 2023-12-31 | 548 | 96.1% | 80 | 176 | 216 | 49 |
| 2023-09-30 | 523 | 94.6% | 48 | 172 | 212 | 49 |
Schedule 13D / 13G filers
| Filed | Form | Filer | % of class | Shares |
|---|---|---|---|---|
| 2026-05-15 | SCHEDULE 13G/A | Cohen & Steers Ireland Limited | 0.0% | 5,279 |
| 2026-04-29 | SCHEDULE 13G | Vanguard Capital Management | 7.6% | 4,876,667 |
| 2026-03-26 | SCHEDULE 13G/A | The Vanguard Group | 0.0% | 0 |
| 2025-08-14 | SCHEDULE 13G | T. Rowe Price Associates, Inc. | 5.2% | 3,321,818 |
Required above 5% of a class; 13G is the passive form.
ETFs with the largest holding
| ETF | Weight in fund | Holding value |
|---|---|---|
| VNQ | 0.98% | $655.6M |
| VGSLX | 0.98% | $655.6M |
| VGSNX | 0.98% | $655.6M |
| VITSX | 0.02% | $551.0M |
| VTSAX | 0.02% | $551.0M |
| VSMPX | 0.02% | $551.0M |
Share structure
Shares outstanding64,261,739
Float63,553,131
Free float98.9%
Income statement
Fiscal years, USD| FY2021 | FY2022 | FY2023 | FY2024 | FY2025 | |
|---|---|---|---|---|---|
| Revenue | $1.4B | $1.6B | $1.7B | $1.8B | $1.9B |
| Cost of revenue | $232.2M | $497.7M | $532.0M | $566.8M | $592.6M |
| Gross profit | $1.2B | $1.1B | $1.1B | $1.2B | $1.3B |
| R&D | $0 | $0 | $0 | $0 | $0 |
| SG&A | $51.8M | $56.6M | $63.5M | $98.9M | $68.6M |
| Operating income | $530.0M | $595.2M | $584.3M | $703.1M | $834.0M |
| EBITDA | $1.5B | $1.2B | $1.2B | $1.6B | $1.6B |
| Pretax income | $780.6M | $433.0M | $430.7M | $811.3M | $698.0M |
| Income tax | $0 | $0 | $0 | $0 | $257,000 |
| Net income | $488.6M | $408.3M | $405.8M | $741.5M | $672.5M |
| EPS, diluted | $7.51 | $6.27 | $6.32 | $11.54 | $10.41 |
| Diluted shares | 65.1M | 65.1M | 64.3M | 64.3M | 64.5M |
Balance sheet
| FY2021 | FY2022 | FY2023 | FY2024 | FY2025 | |
|---|---|---|---|---|---|
| Cash & short-term investments | $240.2M | $146.0M | $479.5M | $136.6M | $183.7M |
| Receivables | $341.0M | $103.0M | $174.6M | $206.7M | $141.6M |
| Inventory | $0 | $0 | $0 | $0 | $0 |
| Total current assets | $591.5M | $258.5M | $662.8M | $352.3M | $227.2M |
| PP&E, net | $69.0M | $67.2M | $63.8M | $51.6M | $50.8M |
| Goodwill & intangibles | $0 | $0 | $0 | $7.7M | $7.5M |
| Total assets | $13.0B | $12.4B | $12.4B | $12.9B | $13.2B |
| Accounts payable | $180.8M | $165.5M | $176.4M | $212.7M | $221.2M |
| Total current liabilities | $694.4M | $389.9M | $352.8M | $530.5M | $98.8M |
| Long-term debt | $5.9B | $5.9B | $6.2B | $6.5B | $6.3B |
| Total liabilities | $6.8B | $6.5B | $6.7B | $7.2B | $7.4B |
| Shareholders' equity | $6.2B | $5.9B | $5.6B | $5.8B | $5.7B |
Cash flow statement
Outflows are negative| FY2021 | FY2022 | FY2023 | FY2024 | FY2025 | |
|---|---|---|---|---|---|
| Net income | $515.7M | $433.0M | $405.8M | $811.3M | $669.7M |
| Depreciation & amortization | $520.1M | $539.3M | $548.4M | $580.2M | $614.7M |
| Stock-based compensation | $7.3M | $7.2M | $0 | $7.2M | $10.2M |
| Change in working capital | $33.3M | −$2.5M | −$1.7M | $55.3M | −$4.3M |
| Operating cash flow | $905.3M | $975.6M | $980.1M | $1.1B | $1.1B |
| Capital expenditure | −$121.2M | −$163.2M | −$140.4M | −$136.4M | $0 |
| Free cash flow | $784.1M | $812.5M | $839.7M | $931.9M | $1.1B |
| Investing cash flow | −$397.4M | $146.0M | −$145.1M | −$973.1M | −$552.5M |
| Net debt issued / repaid | $33.3M | −$353.7M | $243.5M | $289.7M | $201.7M |
| Buybacks | −$9.6M | −$190.0M | −$96.0M | −$296,000 | −$8.1M |
| Dividends paid | −$542.9M | −$565.9M | −$587.0M | −$620.5M | −$654.1M |
Ratio history
Margins on the fiscal-year (TTM at Q4) basis; multiples at each year end| FY2021 | FY2022 | FY2023 | FY2024 | FY2025 | |
|---|---|---|---|---|---|
| Gross margin | 85.0% | 86.0% | 81.7% | 63.6% | 73.2% |
| Operating margin | 36.8% | 37.0% | 35.0% | 39.6% | 44.2% |
| Net margin | 33.9% | 25.4% | 24.3% | 41.8% | 35.6% |
| FCF margin | 54.4% | 50.6% | 50.3% | 52.5% | 49.5% |
| ROE | 8.1% | 7.0% | 7.3% | 13.5% | 12.1% |
| ROIC | 4.3% | 5.2% | 5.2% | 5.8% | 6.8% |
| ROA | 3.8% | 3.2% | 3.3% | 5.9% | 5.2% |
| Debt / equity | 1.06 | 1.05 | 1.16 | 1.20 | 1.25 |
| Interest coverage | 4.9x | 4.1x | 4.1x | 4.1x | 4.0x |
| Current ratio | 0.85 | 0.66 | 1.88 | 0.66 | 2.30 |
| Revenue growth | −3.7% | +11.5% | +3.9% | +6.3% | +6.4% |
| EPS growth | −14.4% | −15.6% | +0.2% | +82.5% | −9.6% |
| P/E at year end | 41.0x | 30.2x | 36.8x | 23.9x | 24.8x |
| EV / EBITDA at year end | 17.2x | 12.4x | 14.6x | 15.6x | 14.2x |
| FCF yield at year end | 3.92% | 6.58% | 5.62% | 5.27% | 5.59% |
| Dividend payout | 111.1% | 138.6% | 144.6% | 83.7% | 97.3% |
Revenue by segment
| FY2021 | FY2022 | FY2023 | |
|---|---|---|---|
| Management And Other Fees From Affiliates Income | $9.1M | $11.1M | $11.1M |
Street estimates by fiscal year
Next report 2026-10-27 · consensus EPS $1.47 · these are analysts' numbers, not ours| Fiscal year | Revenue (mean) | Revenue range | EPS (mean) | EPS range | Analysts | P/E on mean EPS |
|---|---|---|---|---|---|---|
| 2026 | $2.0B | $1.9B – $2.0B | $5.57 | $5.39 – $5.62 | 5 | 48.4x |
| 2027 | $2.0B | $2.0B – $2.0B | $6.34 | $6.26 – $6.37 | 6 | 42.5x |
| 2028 | $2.1B | $2.0B – $2.1B | $6.83 | $6.61 – $6.97 | 3 | 39.4x |
Reported vs expected, every quarter on file
| Reported | EPS expected | EPS actual | EPS surprise | Revenue expected | Revenue actual | Revenue surprise |
|---|---|---|---|---|---|---|
| 2026-04-28 | $1.43 | $4.06 | +183.9% | $479.9M | $482.4M | +0.5% |
| 2026-02-04 | $1.46 | $3.98 | +172.6% | $474.0M | $477.3M | +0.7% |
| 2025-10-29 | $3.96 | $3.97 | +0.3% | $474.7M | $473.3M | −0.3% |
| 2025-07-29 | $3.99 | $4.03 | +1.0% | $472.7M | $469.8M | −0.6% |
| 2025-04-29 | $3.92 | $3.97 | +1.3% | $466.1M | $464.6M | −0.3% |
| 2025-02-04 | $1.40 | $3.92 | +180.0% | $449.9M | $454.5M | +1.0% |
| 2024-10-29 | $3.88 | $3.91 | +0.8% | $447.8M | $450.7M | +0.7% |
| 2024-07-30 | $3.84 | $3.94 | +2.6% | $431.8M | $442.4M | +2.4% |
| 2024-04-30 | $1.29 | $4.25 | +229.5% | $426.9M | $426.9M | 0.0% |
| 2024-02-06 | $3.81 | $3.83 | +0.5% | $419.7M | $421.7M | +0.5% |
| 2023-10-26 | $3.77 | $3.78 | +0.3% | $419.5M | $419.2M | −0.1% |
| 2023-07-27 | $3.73 | $3.77 | +1.1% | $413.7M | $416.0M | +0.6% |
| 2023-04-27 | $3.62 | $3.65 | +0.8% | $411.3M | $412.4M | +0.3% |
| 2023-02-07 | $1.45 | $2.86 | +97.2% | $412.3M | $415.2M | +0.7% |
| 2022-10-26 | $3.68 | $3.69 | +0.3% | $405.5M | $409.7M | +1.1% |
| 2022-07-26 | $3.55 | $3.68 | +3.7% | $390.9M | $400.0M | +2.3% |
| 2022-04-26 | $3.34 | $3.37 | +0.9% | $374.8M | $381.9M | +1.9% |
| 2022-02-02 | $3.23 | $3.25 | +0.6% | $368.2M | $371.6M | +0.9% |
| 2021-10-26 | $3.10 | $3.12 | +0.6% | $354.3M | $362.9M | +2.4% |
| 2021-07-29 | $2.99 | $3.04 | +1.7% | $348.8M | $351.0M | +0.6% |
| 2021-04-27 | $0.96 | $2.59 | +169.8% | $355.4M | $355.1M | −0.1% |
| 2021-02-04 | $3.12 | $3.02 | −3.2% | $365.9M | $362.1M | −1.0% |
| 2020-10-28 | $3.16 | $3.15 | −0.3% | $1.1B | $370.8M | −64.8% |
| 2020-08-03 | $3.30 | $3.16 | −4.2% | $310.2M | $370.5M | +19.4% |
Off-exchange (dark pool) volume, weekly
FINRA ATS, $ billions · through the week of 2026-08-31 (FINRA publishes with a delay)| Week of | Notional | Shares | Trades |
|---|---|---|---|
| 2026-08-31 | $236.3M | 847,182 | 31,553 |
| 2026-08-24 | $306.5M | 1,066,970 | 30,210 |
| 2026-08-17 | $136.2M | 475,053 | 25,092 |
| 2026-08-10 | $131.2M | 459,861 | 25,277 |
| 2026-08-03 | $152.0M | 531,444 | 23,430 |
| 2026-07-27 | $251.9M | 871,072 | 34,869 |
Short-sale share of off-exchange volume
daily 20-day average| Date | Short share | Short volume | Total volume |
|---|---|---|---|
| 2026-10-15 | 73.5% | 91,736 | 124,882 |
| 2026-10-14 | 76.3% | 101,638 | 133,213 |
| 2026-10-13 | 71.1% | 102,663 | 144,352 |
| 2026-10-12 | 65.3% | 80,645 | 123,554 |
| 2026-10-09 | 76.9% | 121,038 | 157,472 |
| 2026-10-08 | 78.0% | 117,692 | 150,956 |
| 2026-10-07 | 70.0% | 88,389 | 126,276 |
| 2026-10-06 | 72.6% | 150,126 | 206,899 |
| 2026-10-05 | 80.8% | 131,024 | 162,169 |
| 2026-10-02 | 89.0% | 146,539 | 164,581 |
A daily flow measure from FINRA, not short interest.
Seasonality
Average return by calendar month| Month | Avg return | Up years | Years |
|---|---|---|---|
| Jan | +1.4% | 55% | 20 |
| Feb | −0.4% | 45% | 20 |
| Mar | +2.5% | 76% | 21 |
| Apr | +2.9% | 60% | 20 |
| May | +0.4% | 50% | 20 |
| Jun | −0.5% | 65% | 20 |
| Jul | +2.0% | 85% | 20 |
| Aug | +0.8% | 60% | 20 |
| Sep | −1.3% | 45% | 20 |
| Oct | +1.8% | 60% | 20 |
| Nov | +0.3% | 50% | 20 |
| Dec | +1.8% | 50% | 20 |
History, not a forecast.
Indicators
as of 2026-10-16RSI 1444.3
MFI44.6
ADX18.7
Stochastic %K / %D33.0 / 38.5
Williams %R-66.7
CCI-28
TSI / signal-12.8 / -16.4
Chaikin money flow-0.13
ATR$4.53
Bollinger width2.0%
Volume vs 20-day avg0.56x
SupertrendDown
Moving averages and bands
level (price vs level)SMA 20$270.14 (−0.3%)
SMA 50$276.62 (−2.6%)
SMA 200$268.49 (+0.4%)
EMA 21$271.15 (−0.6%)
EMA 50$274.95 (−2.0%)
EMA 200$272.68 (−1.2%)
Bollinger upper$272.79 (−1.2%)
Bollinger lower$267.48 (+0.7%)
Parabolic SAR$267.55 (+0.7%)
Open the live chart, 110+ indicatorsAbout Essex Property Trust, Inc.
Essex Property Trust, Inc., a prominent S&P 500 constituent, operates as a vertically integrated real estate investment trust (REIT). The company focuses on the purchase, construction, renovation, and ongoing management of residential apartment complexes across select West Coast regions. Currently, Essex maintains ownership interests in 246 apartment communities, offering a total of roughly 60,000 homes, with an additional six properties actively advancing through various stages of development.
https://www.essexapartmenthomes.com
Key executives
| Name | Title | Pay | Born |
|---|---|---|---|
| Angela L. Kleiman | President, Chief Executive Officer & Director | $5.4M | 1971 |
| Barbara Pak | Executive Vice President & Chief Financial Officer | $2.7M | 1977 |
| Rylan Burns | Executive Vice President & Chief Investment Officer | $2.1M | 1985 |
| Anne Morrison | Executive Vice President, Chief Administrative Officer, General Counsel & Secretary | $1.8M | 1981 |
| Brennan McGreevy | Group Vice President & Chief Accounting Officer | — | 1985 |
| Dmitry Taraschansky | Senior Vice President of Transactions | — | — |
| Michael Kao | Senior VP & CTO | — | — |
| Yunmi Martin | Senior Vice President of Property Operations | — | — |
Executive pay, latest proxy
| Executive | Year | Salary | Stock awards | Incentive | Total |
|---|---|---|---|---|---|
| Angela L. Kleiman CEO and President | 2024 | $900,000 | $3.0M | $4.2M | $8.2M |
| Barb M. Pak CFO and EVP | 2024 | $650,000 | $1.3M | $2.0M | $4.0M |
| Anne Morrison CAO, General Counsel and EVP | 2024 | $500,000 | $660,284 | $1.2M | $2.4M |
| Rylan Burns CIO and EVP | 2024 | $450,000 | $477,049 | $1.2M | $2.2M |
Employees
Dividends
| Ex-date | Amount | Paid |
|---|---|---|
| 2026-09-30 | $2.59 | 2026-10-15 |
| 2026-06-30 | $2.59 | 2026-07-15 |
| 2026-03-31 | $2.59 | 2026-04-15 |
| 2026-01-02 | $2.57 | 2026-01-15 |
| 2025-09-30 | $2.57 | 2025-10-15 |
| 2025-06-30 | $2.57 | 2025-07-15 |
| 2025-03-31 | $2.57 | 2025-04-15 |
| 2025-01-02 | $2.45 | 2025-01-15 |
Moat model
Weak · Switching Costs · 2026-06-30Cost advantage45
Intangibles47
Switching costs63
Network effect40
Efficient scale63
Our component scores (0-100) and overall 52.0; a model of the business, not a call on the stock.
InsiderStreet reports findings from filings and market data. Nothing on this page is a recommendation to buy or sell.Every figure is computed in code · data as of 2026-10-17