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ESS

Essex Property Trust, Inc.

Real Estate · $17.5B market cap

Verdict

Share price

$268.65

close of Oct 3, 2026

Fair value

$181.30

Sticker Price

Payback Price

$72.52

buy price

Overpriced

ESS is Overpriced: at $268.65 it trades 48% above its fair value of $181.30. Its buy price (Payback Price) is $72.52, 73% below today's price. Business quality is mixed: 2 of 5 key numbers clear the 10% bar.

How we valued it

FFO-Based (REIT). A real estate trust. Depreciation makes a property owner's profit look smaller than the cash it brings in, so we value it on funds from operations (FFO).

Business quality

2 of 5 clear the 10% bar. What are the Big Five?

Earnings per share growth14.2% a year✓
Equity per share growth6.5% a year✗
Sales growth10.1% a year✓
Free cash flow growth9.5% a year✗
Return on invested capital5.5%✗

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About 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…

REIT - Residential

Fair value and Payback Price are estimates from the company's reported financials, not investment advice. Prices as of the close of Oct 3, 2026. How the Payback Price works