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Stocks/Real Estate/Multi-Family Residential REITs

Essex Property TrustESS

Multi-Family Residential REITs · San Mateo, California · In the S&P 500
Solid business
$264.18−0.39%After hours: $264.18 (0.00%)At the close, 30 Oct · Prices from CNBC, may be delayed
▲ 6.9% over 1 year
Essex Property Trust over 1 yearDaily close, $, to 30 Oct 2026
$240$260$280$300Nov2026MarMayJulSep$264.18$250$275$300NovMarJul$264.18
Source: Nasdaq daily closes
Market value$17.00B
Price to earnings49.0x
Forward P/E43.7x
Dividend yield3.91%
Year to date+1.0%
One year+6.9%
Next earningsNot scheduled
SectorReal Estate
52-week range (closes)
$239.61$298.33

Quality and valuation

How Essex Property Trust compares with other real estate stocks. A description, not a recommendation.

Essex Property Trust and 4 multi-family residential reits peers. Across: valuation (P/E) against the sector. Up: business quality against the sector. Hover or tap a logo for its numbers.

Business quality: about averageValuation: in line with its sector

An average business among real estate companies, priced about in line with them.

Essex Property Trust trades at 43.7 times the next 12 months of expected earnings, against a median of 35.1x for the 30 real estate stocks we cover. The quality score blends where it ranks on revenue growth, gross margin, operating margin and free-cash-flow margin (net margin for banks and insurers) over the last 12 months, from SEC filings.

  • Revenue grew slower than the sector median: +4.7% vs +5.5%
  • Keeps less of each sale (gross margin): 70.1% vs 70.1%
  • Less profitable (operating margin): 32.5% vs 37.2%
ESS trades at 43.7x forward earnings, above the sector medianForward p/e, Multi-Family Residential REITs peers
MAA37.4xESS43.7xVMRK44.3xUDR67.0xCPT77.5xSector median 35.1xMAA37.4xESS43.7xVMRK44.3xUDR67.0xCPT77.5xSector median 35.1x
Source: CNBC quotes; Mostly Markets
At 41.1x earnings, ESS is pricier than its average since Jul 2024Price over the last 12 months of reported (GAAP) diluted EPS
P/EUsual range (±1 s.d.)
20x30xAverage 29.4x2025202641.1x20x30xAverage 29.4x2025202641.1x
Source: Nasdaq prices; SEC filings

Financials

From Essex Property Trust's SEC filings, through the quarter ending 30 Jun 2026. Hover or tap a bar for its value.

Revenue grew 4.1% from a year earlierQuarterly revenue, $m, latest Q2 ’26
$0m$200m$400mQ3 ’24Q1 ’25Q3 ’25$489mQ2 ’26$0m$200m$400mQ3 ’24Q1 ’25Q3 ’25$489mQ2 ’26
Source: SEC filings
Growth slowed to +4.1% last quarterRevenue growth, year on year, %
0%2%5%8%Q3 ’24Q1 ’25Q3 ’254.1%Q2 ’260%5%Q3 ’24Q1 ’25Q3 ’254.1%Q2 ’26
Source: SEC filings
Operating margin was 22.4% last quarterOperating income as a share of revenue, %
0%20%40%60%Q3 ’24Q1 ’25Q3 ’2522.4%Q2 ’260%25%50%Q3 ’24Q1 ’25Q3 ’2522.4%Q2 ’26
Source: SEC filings
Diluted EPS was $0.97 last quarterQuarterly diluted earnings per share, $
$0$1$2$3$4Q3 ’24Q1 ’25Q3 ’25$0.97Q2 ’26$0$2$4Q3 ’24Q1 ’25Q3 ’25$0.97Q2 ’26
Source: SEC filings
Last 12 monthsESSSector median
Revenue growth+4.7%+5.5%
Gross margin70.1%70.1%
Operating margin32.5%37.2%
Price to earnings49.0x30.3x

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Similar companies

Multi-Family Residential REITs, by market value.

CompanyPriceTodayYTDValue
VMRKVivmark Residential$61.90+0.24%−1.8%$47.90B
MAAMid-America Apartment Communities$117.21−0.89%−15.6%$13.60B
UDRUDR$35.52+0.28%−3.2%$11.41B
CPTCamden Property Trust$100.69−0.25%−8.5%$10.12B