ESS

NYSE

ESSEX PROPERTY TRUST, INC.

Real Estate, Multi-Family Residential REITs

$288.10

close 7 Aug 2026

+14.29%

52-week change

$18.52B

market cap

$238.46

$303.35

52-week range

Expected price

$192.45 – $235.21

Current price

$288.10

Signal

Could be overvalued

A historical-multiple reference, never a fair-value claim. The band uses only data public at each date and ends at the latest month — no forward estimates.

Current multiples

P/E (TTM)44.88x

P/S (TTM)9.61x

P/B3.48x

EV/EBITDA (TTM)20.02x

FCF yield (TTM)4.69%

PEG (TTM, GAAP)2.44

Context

P/E, own 5-year average34.39x

P/E, sector median34.68x*

Price at 5-year median P/E$213.18*

Indicated dividend yield3.60%

Forward — analyst consensus

Forward P/E (FY2026)49.02x*

Forward P/E (FY2027)46.61x

Forward PEG9.51*

Consensus EPS FY2026 (4 analysts)$5.88

EPS growth (FY2026→FY2027)5.16%

Revenue growth (FY2026)3.75%

Street view

Price target (mean)$303.39*

Target upside5.31%

Ratings (buy / hold / sell)10 / 14 / 2

FY2026 EPS revisions, 30d (up / down)2 / 0

5-year history

Dashed line: average of month-end values

P/E (TTM)

P/S (TTM)

P/B

FCF yield (TTM)

Dividend yield

period to 30 Jun 2026, filed 30 Jul 2026, close 7 Aug 2026

Discounted cash flow

Ten projected years plus a perpetuity, prefilled from filings — a model to argue with, never a fair-value claim.

Free cash flow, last ten years and TTM

5Y CAGR -6.66%10Y CAGR +9.01%

Assumptions

Growth rate, years 1–10%

Perpetual growth%Discount rate%

Base FCF$M

As filed — not assumptions

Current price$288.10

Cash & equivalents$58.33M

Total debt$6.39B

Shares outstanding64.27M

Result

DCF price per share$26.00

Current price$288.10

Margin of safety-90.98%

PV of years 1–10$4.24B

PV of terminal value$3.76B

Equity value$1.67B

Market-implied growth+8.00%

Projected FCF, years 1–10

Hover for PV and growth

Projection detail

Override growth for any year; blank years use the uniform rate

Year	2026	2027	2028	2029	2030	2031	2032	2033	2034	2035	Terminal
Growth, %											2.5
FCF	$809.81M	$755.88M	$705.53M	$658.55M	$614.69M	$573.75M	$535.54M	$499.87M	$466.58M	$435.50M	$8.12B
PV	$749.82M	$648.04M	$560.08M	$484.05M	$418.35M	$361.56M	$312.48M	$270.06M	$233.41M	$201.72M	$3.76B

period to 30 Jun 2026, filed 30 Jul 2026, close 7 Aug 2026