ESS

Essex Property Trust Inc

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287.060

-0.35(-0.122%)1D

Overview
Forecast
Valuation
Earnings

Line

Candle

YTD

High

287.750

Open

287.600

VWAP

286.85

Vol

310.19K

Mkt Cap

17.55B

Low

284.760

Amount

88.98M

EV/EBITDA(TTM)

22.19

Total Shares

64.21M

25.14B

EV/OCF(TTM)

23.20

P/S(TTM)

10.06

Essex Property Trust, Inc. is a self-administered and self-managed real estate investment trust. The Company acquires, develops, redevelops, and manages apartment communities in selected residential areas located on the West Coast of the United States. The Company defines its operating segments as the three geographical regions in which its communities are located: Southern California, Northern California, and Seattle metro. It has ownership interests in approximately 257 apartment communities comprising over 62,000 apartment homes. The Company owns all of its interests in its real estate and other investments directly or indirectly through Essex Portfolio, L.P. It invests primarily in apartment communities that are located in predominantly coastal markets within Southern California, Northern California, and the Seattle metropolitan area. It focuses on acquiring and developing apartment communities in supply constrained markets and redeveloping its existing communities.

Market Estimates

Earnings Estimates

Revenue

YoY Chg

EPS

YoYChg

FY2025Q4

FY2025Q3

FY2025Q2

475.64M

+5.22%

472.44M

+5.42%

466.47M

+6.07%

Estimates Revision

The market is revising Upward the revenue expectations for Essex Property Trust, Inc. (ESS) for FY2025, with the revenue forecasts being adjusted by 0.56% over the past three months. During the same period, the stock price has changed by 3.42%.

Revenue Estimates for FY2025

Revise Upward

+0.56%

In Past 3 Month

Stock Price

Go Up

+3.42%

In Past 3 Month

14 Analyst Rating

11.02% Upside

Wall Street analysts forecast ESS stock price to rise over the next 12 months. According to Wall Street analysts, the average 1-year price target for ESS is 318.68 USD with a low forecast of 293.00 USD and a high forecast of 355.00 USD. However, analyst price targets are subjective and often lag stock prices, so investors should focus on the objective reasons behind analyst rating changes, which better reflect the company's fundamentals.

6 Buy

7 Hold

1 Sell

Moderate Buy

11.02% Upside

Current: 287.060

Low

293.00

Averages

318.68

High

355.00

11.02% Upside

Current: 287.060

Low

293.00

Averages

318.68

High

355.00

Barclays

Equal Weight

maintain

$328 -> $335

2025-07-15

Reason

Barclays

Price Target

$328 -> $335

2025-07-15

maintain

Equal Weight

Reason

Barclays raised the firm's price target on Essex Property Trust to $335 from $328 and keeps an Equal Weight rating on the shares. The firm adjusted residential real estate investment trust price targets as part of a Q2 preview. Barclays' rent tracker suggests little risk to Q2 estimated and guidance ranges for the group.

UBS

Neutral

downgrade

$297 -> $295

2025-07-15

Reason

UBS

Price Target

$297 -> $295

2025-07-15

downgrade

Neutral

Reason

UBS lowered the firm's price target on Essex Property Trust to $295 from $297 and keeps a Neutral rating on the shares.

Evercore ISI

Steve Sakwa

In Line

maintain

$289 -> $296

2025-07-07

Reason

Evercore ISI

Steve Sakwa

Price Target

$289 -> $296

2025-07-07

maintain

In Line

Reason

Evercore ISI analyst Steve Sakwa raised the firm's price target on Essex Property Trust to $296 from $289 and keeps an In Line rating on the shares. The firm adjusted its estimates and targets ahead of the Q2 reporting season for the Residential REIT group.

Raymond James

Market Perform -> Outperform

upgrade

$315

2025-06-24

Reason

Raymond James

Price Target

$315

2025-06-24

upgrade

Market Perform -> Outperform

Reason

Raymond James upgraded Essex Property Trust to Outperform from Market Perform with a $315 price target. Essex's tech-centric markets like San Francisco, San Jose, and Seattle remain some of the best performing multifamily markets in 2025, with asking rents growing 4.2%, 4.2% and 2.5%, respectively, year-to-date through mid-June, the analyst tells investors in a research note. Essex's West Coast exposure has successfully insulated it against much of the cyclical supply pressure weighing on Sun Belt markets, the firm says.

Scotiabank

Nicholas Yulico

Outperform

downgrade

$344 -> $320

2025-06-13

Reason

Scotiabank

Nicholas Yulico

Price Target

$344 -> $320

2025-06-13

downgrade

Outperform

Reason

Scotiabank analyst Nicholas Yulico lowered the firm's price target on Essex Property Trust to $320 from $344 and keeps an Outperform rating on the shares. The firm sees some softness in new lease pricing for the Spring selling season, likely due to a combination of lingering new supply and pockets of softer demand, the analyst tells investors. The firm believes Essex Property is better positioned to achieve FY25 blended rate growth guidance.

BMO Capital

John Kim

Outperform

maintain

$315 -> $317

2025-05-28

Reason

BMO Capital

John Kim

Price Target

$315 -> $317

2025-05-28

maintain

Outperform

Reason

BMO Capital analyst John Kim raised the firm's price target on Essex Property Trust to $317 from $315 and keeps an Outperform rating on the shares after hosting investor meetings with its management. The REIT's asking rents have shown unusual deceleration in Q2 to date, but third-party data providers have not historically been accurate with Essex Property's new lease rates, and the company was confident on achieving its Q2 blended lease guidance, the analyst tells investors in a research note.

See All Ratings

Valuation Metrics

The current forward P/E ratio for Essex Property Trust Inc (ESS.N) is 49.48, compared to its 5-year average forward P/E of 50.05. For a more detailed relative valuation and DCF analysis to assess Essex Property Trust Inc 's fair value, click here.

Forward PE

The forward P/E ratio is a valuation metric that divides a company's current stock price by its estimated future earnings per share over the next 12 months.

Fair

5Y Average PE

50.05

Current PE

49.48

Overvalued PE

63.72

Undervalued PE

36.37

Forward EV/EBITDA

The forward EV/EBITDA ratio is a valuation metric that divides a company's enterprise value (EV) by its estimated future earnings before interest, taxes, depreciation, and amortization (EBITDA) over the next 12 months.

Fair

5Y Average EV/EBITDA

21.11

Current EV/EBITDA

19.99

Overvalued EV/EBITDA

24.33

Undervalued EV/EBITDA

17.89

Forward PS

The forward P/S ratio is a valuation metric that divides a company's current stock price by its estimated future sales (or revenue) per share over the next 12 months.

Fair

5Y Average PS

10.61

Current PS

9.64

Overvalued PS

12.71

Undervalued PS

8.51