ESS official logo ESS
ESS 1-star rating from Upturn Advisory
Essex Property Trust Inc (ESS) company logo

Essex Property Trust Inc (ESS)

Essex Property Trust Inc (ESS) 1-star rating from Upturn Advisory
$255.37
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Upturn Advisory Summary

12/05/2025: ESS (1-star) is currently NOT-A-BUY. Pass it for now.

Upturn Star Rating

Upturn 1 star rating for performance

Not Recommended Performance

These Stocks/ETFs, based on Upturn Advisory, consistently fall short of market performance, signaling caution before investing.

Number of Analysts

4 star rating from financial analysts

27 Analysts rated it

Well-followed company, solid analyst reports, reliable data for confident investing.

1 Year Target Price $285.07

1 Year Target Price $285.07

Analysts Price Target For last 52 week
$285.07 Target price
52w Low $239.32
Current$255.37
52w High $307.81

Analysis of Past Performance

Type Stock
Historic Profit 0.72%
Avg. Invested days 45
Today’s Advisory PASS
Upturn Star Rating upturn star rating icon
Upturn Advisory Performance Upturn Advisory Performance icon 3.0
Stock Returns Performance Upturn Returns Performance icon 1.0
Upturn Profits based on simulation icon Profits based on simulation
Upturn last close icon Last Close 12/05/2025

Key Highlights

Company Size Large-Cap Stock
Market Capitalization 17.64B USD
Price to earnings Ratio 19.41
1Y Target Price 285.07
Price to earnings Ratio 19.41
1Y Target Price 285.07
Volume (30-day avg) 27
Beta 0.73
52 Weeks Range 239.32 - 307.81
Updated Date 12/5/2025
52 Weeks Range 239.32 - 307.81
Updated Date 12/5/2025
Dividends yield (FY) 3.94%
Basic EPS (TTM) 13.16

Analyzing Revenue: Products, Geography and Growth

Revenue by Products

Product revenue - Year on Year

Revenue by Geography

Geography revenue - Year on Year

Earnings Date

Report Date -
When -
Estimate -
Actual -

Profitability

Profit Margin 44.17%
Operating Margin (TTM) 33.78%

Management Effectiveness

Return on Assets (TTM) 3.06%
Return on Equity (TTM) 15.99%

Valuation

Trailing PE 19.41
Forward PE 43.29
Enterprise Value 23295115835
Price to Sales(TTM) 9.2
Enterprise Value 23295115835
Price to Sales(TTM) 9.2
Enterprise Value to Revenue 12.51
Enterprise Value to EBITDA 13.12
Shares Outstanding 64404022
Shares Floating 63775439
Shares Outstanding 64404022
Shares Floating 63775439
Percent Insiders 1.16
Percent Institutions 103.34

Icon representing Upturn AI-generated SWOT analysis summary Upturn AI SWOT

Essex Property Trust Inc

Essex Property Trust Inc(ESS) company logo displayed in Upturn AI summary

Company Overview

Company history and background logo History and Background

Essex Property Trust, Inc. (ESS) was founded in 1991 and is a real estate investment trust (REIT) focused on apartment properties. Headquartered in San Mateo, California, it has grown to become a significant player in the West Coast multifamily real estate market. Key milestones include its IPO in 1994 and consistent expansion of its portfolio through acquisitions and development. The company has evolved by strategically acquiring properties in high-growth metropolitan areas and focusing on Class A and B apartment buildings.

Company business area logo Core Business Areas

  • Multifamily Property Operations: Essex Property Trust's primary business is owning, operating, managing, and redeveloping apartment communities. They focus on owning properties in coastal California and Seattle metropolitan areas, known for their strong economic and demographic fundamentals.
  • Property Development and Redevelopment: The company engages in developing new apartment communities and redeveloping existing properties to enhance value and tenant appeal.

leadership logo Leadership and Structure

Essex Property Trust Inc. is led by its Board of Directors and executive management team. Key leadership positions include the Chief Executive Officer (CEO), Chief Financial Officer (CFO), and various Senior Vice Presidents responsible for operations, finance, and development. As a REIT, it is structured to own income-producing real estate and distribute a significant portion of its taxable income to shareholders.

Top Products and Market Share

Product Key Offerings logo Key Offerings

  • Apartment Rentals: Essex Property Trust offers rental units in a portfolio of apartment communities. Their properties are primarily located in supply-constrained, high-barrier-to-entry coastal markets. Market share within specific submarkets is significant, but precise overall market share for the entire US multifamily sector is diffuse. Competitors include other large REITs, private real estate investment firms, and local property owners.

Market Dynamics

industry overview logo Industry Overview

The multifamily real estate industry is characterized by demand driven by population growth, household formation, and economic conditions. Key trends include rising rents in desirable markets, increasing construction costs, and evolving renter preferences (e.g., amenities, location). The industry is competitive, with a mix of large institutional investors and smaller local players.

Positioning

Essex Property Trust is a leading owner and operator of apartment communities on the West Coast, specifically in California and Seattle. Its competitive advantages stem from its established presence in high-growth, supply-constrained markets, a focus on high-quality assets, strong operational expertise, and a history of disciplined capital allocation. They are well-positioned to benefit from the strong demand for rental housing in their core geographies.

Total Addressable Market (TAM)

The total addressable market for multifamily real estate in the US is in the trillions of dollars, encompassing all rental housing units. Essex Property Trust's TAM is focused on the high-growth, coastal metropolitan areas where it operates. Their positioning is strong within these specific, high-value submarkets, but they represent a smaller fraction of the overall US multifamily market.

Upturn SWOT Analysis

Strengths

  • Strong portfolio in high-demand, supply-constrained West Coast markets.
  • Experienced management team with a proven track record.
  • Focus on high-quality, well-located apartment communities.
  • Disciplined approach to development and acquisitions.
  • Solid financial position and access to capital.

Weaknesses

  • Geographic concentration in a few high-cost markets, making it susceptible to regional economic downturns.
  • Reliance on rental income, which can be affected by economic cycles and tenant affordability.
  • High operating costs associated with properties in expensive urban areas.

Opportunities

  • Continued population and job growth in their core West Coast markets.
  • Potential for rent growth in their existing portfolio.
  • Acquisition of distressed or underperforming assets.
  • Development of new communities in strategic locations.
  • Leveraging technology to improve operational efficiency and tenant experience.

Threats

  • Interest rate hikes increasing borrowing costs and impacting property valuations.
  • Increased competition from other apartment developers and owners.
  • Regulatory changes affecting rent control or property taxes.
  • Economic recession leading to job losses and reduced rental demand.
  • Rising construction costs and labor shortages impacting development projects.

Competitors and Market Share

Key competitor logo Key Competitors

  • Prologis, Inc. (PLD)
  • Equity Residential (EQR)
  • AvalonBay Communities, Inc. (AVB)
  • UDR, Inc. (UDR)

Competitive Landscape

Essex Property Trust's competitive advantages lie in its deep understanding and established presence in its specific high-barrier West Coast markets. While large competitors like EQR and AVB have broader national portfolios, ESS's focused strategy allows for concentrated expertise and operational efficiency within its chosen submarkets. Competitors include other publicly traded REITs, private equity firms, and institutional investors. ESS competes on location, quality of assets, amenities, and customer service.

Growth Trajectory and Initiatives

Historical Growth: Essex has experienced consistent growth through strategic acquisitions of stabilized properties and through its development pipeline. Their focus on key West Coast markets has allowed them to capitalize on strong rental demand and appreciation. Organic growth has been driven by rent increases and operational efficiencies.

Future Projections: Analyst projections generally anticipate continued growth for Essex Property Trust, driven by ongoing development projects, strategic acquisitions, and the persistent demand for rental housing in their target markets. Growth is expected to be in the mid-to-high single digits for revenue and NOI. Projections are subject to economic conditions and interest rate movements.

Recent Initiatives: Recent initiatives likely include the ongoing development of new apartment communities, strategic acquisition of new assets in core or adjacent markets, and potential dispositions of non-core assets. They may also be focusing on enhancing sustainability features and leveraging technology to improve resident services and operational efficiency.

Summary

Essex Property Trust Inc. is a strong player in the West Coast multifamily real estate market, benefiting from high demand and supply constraints in its core geographies. Its experienced management, quality asset base, and disciplined growth strategy are key strengths. However, its geographic concentration poses a risk to regional economic downturns. Continued focus on development and strategic acquisitions, while navigating interest rate environments and competition, will be crucial for its sustained success.

Similar Stocks

Sources and Disclaimers

Data Sources:

  • Company Investor Relations Filings (e.g., 10-K, 10-Q)
  • Financial News and Data Providers (e.g., Bloomberg, Refinitiv)
  • Industry Research Reports

Disclaimers:

This analysis is based on publicly available information and is intended for informational purposes only. It does not constitute financial advice. Numerical data, especially financial metrics and market share, should be verified with the company's latest official filings for the most up-to-date and accurate information. Market share figures are illustrative and represent approximations.

Information icon for Upturn AI Summarization accuracy disclaimer AI Summarization is directionally correct and might not be accurate.

Information icon for Upturn AI Summarization data freshness disclaimer Summarized information shown could be a few years old and not current.

Information icon warning about Upturn AI Fundamental Rating based on potentially old data Fundamental Rating based on AI could be based on old data.

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About Essex Property Trust Inc

Exchange NYSE
Headquaters San Mateo, CA, United States
IPO Launch date 1994-06-06
President, CEO & Director Ms. Angela L. Kleiman
Sector Real Estate
Industry REIT - Residential
Full time employees 1712
Full time employees 1712

Essex Property Trust, Inc., an S&P 500 company, is a fully integrated real estate investment trust (REIT) that acquires, develops, redevelops, and manages multifamily residential properties in selected West Coast markets. Essex currently has ownership interests in 257 apartment home communities comprising over 62,000 apartment homes with an additional property in active development.