Essex Property Trust, Inc. (ESS) Stock Analysis
Over the past 10 years, Essex Property Trust (ESS) earnings per share (EPS) grew 11.5% a year, revenue grew 4.8% a year and free cash flow grew 5.2% a year, with an average return on invested capital (ROIC) of 4.5%. ESS stock trades at $268.78, a P/E of 41.8, above its historical average of 34.3. Analysts' average 12-month price target is $300.77 (+11.9%).
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.
Exhibit A Growth Dossier
| Metric | 10yr | 5yr | 1yr | Grade |
|---|---|---|---|---|
| Book Value/Share GrowthBV/S | -1.1% | -1.2% | -5.7% | F |
| EPS GrowthEPS | 11.5% | 3.7% | -48.4% | F |
| Revenue GrowthRevenue | 4.8% | 4.9% | 3.3% | C |
| Cash Flow GrowthCash Flow | 5.2% | 5.5% | 16.8% | B |
| ROICROIC | 4.5% | 5.1% | 6.1% | C+ |
Exhibit B Valuation Ledger
- Current EPS
- $6.43
- Historical Avg P/E
- 34.3
- Future P/E (used for sticker price)
- Projected EPS (10yr)
- Sticker Price (10yr)
- Price for 15% Annual Return
- Expected Annual Return
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Not investment advice — a structured read of historical fundamentals, not a forecast or recommendation. Always do your own research.
Exhibit C Raw Data (last 10 years)
| Metric | Trend | 2015 | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | TTM |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Book Value / ShareBV/S | $95.87 | $94.41 | $95.26 | $94.83 | $94.34 | $91.52 | $92.08 | $87.81 | $84.40 | $86.18 | $85.97 | $82.58 | |
| Basic EPSEPS | $3.50 | $6.28 | $6.58 | $5.91 | $6.67 | $8.69 | $7.51 | $6.27 | $6.32 | $11.55 | $10.41 | $6.43 | |
| RevenueRevenue | $1,194,407,000 | $1,294,001,000 | $1,363,899,000 | $1,400,053,000 | $1,460,155,000 | $1,495,748,000 | $1,440,556,000 | $1,606,814,000 | $1,669,395,000 | $1,774,450,000 | $1,900,558,000 | $1,926,738,000 | |
| Free Cash FlowCash Flow | $560,133,000 | $652,510,000 | $695,165,000 | $744,870,000 | $817,390,000 | $713,023,000 | $784,064,000 | $812,456,000 | $839,693,000 | $931,910,000 | $934,075,000 | $1,042,125,000 | |
| ROIC (%)ROIC | 2.8% | 3.5% | 3.9% | 4.2% | 3.9% | 3.9% | 4.2% | 4.9% | 4.9% | 5.6% | 6.1% | — |
The exact underlying data used to compute the growth rates and grades above. The highlighted TTM column is the trailing twelve months through the most recently reported quarter.
Ticker INVESTigator Price Target
Analyst Data
Price Target
Where the stock trades today vs. the range of 12-month price targets from covering analysts.
47 firms rate it — 18 buy, 25 hold, 4 sell · Most recent Oct 2026
ESS Stock FAQ
What is ESS's stock price target?
The average 12-month analyst price target for ESS is $300.77, with a range of $285.00 to $326.00. That is +11.9% from the current price of $268.78.
Do analysts rate ESS a buy?
Opinion is mixed. Of 47 firms covering Essex Property Trust, the ratings are 18 buy or strong buy, 25 hold and 4 sell or strong sell.
How fast is Essex Property Trust growing?
Annual growth rates for ESS. EPS: 11.5% over 10 years, 3.7% over 5 years, -48.4% over 1 year. Revenue: 4.8% over 10 years, 4.9% over 5 years, 3.3% over 1 year. Free cash flow: 5.2% over 10 years, 5.5% over 5 years, 16.8% over 1 year. Book value per share: -1.1% over 10 years, -1.2% over 5 years, -5.7% over 1 year.
What is ESS's ROIC?
Essex Property Trust's return on invested capital (ROIC) was 6.1% in fiscal 2025. Its 10-year average ROIC is 4.5%. ROIC above 10% is generally a sign of a business with a durable competitive advantage.
What is ESS's P/E ratio?
ESS's current P/E ratio is 41.8, compared with a historical average of 34.3. Trailing earnings per share are $6.43.
What is Essex Property Trust's market cap and stock price?
ESS last traded at $268.78 as of October 19, 2026. Its 52-week range is $238.46 to $303.35. Essex Property Trust has a market cap of $17.27B.
Exhibit D Related Coverage
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Data as of October 19, 2026. Findings are derived from historical fundamentals — not a forecast, not advice. Cross-examine before you invest.
Grades are produced by Ticker INVESTigator's own model from public financial data and are for informational and educational purposes only. They are not investment advice or a recommendation to buy or sell any security. Do your own research.