ESSEX PROPERTY TRUST, INC. (ESS)

Real Estate Investment Trusts

Latest Price

$276.05

TTM P/E

43.00

Normalized P/E

33.61

Div Yield

3.74%

Book Value

82.71

P/B Ratio

3.34

Valuation metrics

EPS: $10.40

Book value / share: $85.99

Formula: √(22.5 × EPS × BVPS)

Graham Number

$141.85

49% downside

Norm. op. income: $584M (median of 7yr)

Tax rate: 25%

Discount rate: 10%

Growth assumption: zero (EPV is a no-growth value)

Earnings Power Value

$59.28

79% downside

EPS: $10.40

Target P/E: 34×

Formula: EPS × P/E

P/E Fair Value

$353.60

+28% upside

100.0% held by institutions

Institution	Shares	Value	Ownership %	Change	Filing Date
BlackRock, Inc.	7.43M	$2.17B	11.56%	+174.7K	2026-06-30
VANGUARD PORTFOLIO MANAGEMENT LLC	5.49M	$1.60B	8.54%	+2.5K	2026-06-30
STATE STREET CORP	5.21M	$1.53B	8.11%	-13.7K	2026-06-30
COHEN & STEERS, INC.	4.91M	$1.43B	7.65%	+71.5K	2026-06-30
VANGUARD CAPITAL MANAGEMENT LLC	4.20M	$1.23B	6.54%	+4.6K	2026-06-30
PRICE T ROWE ASSOCIATES INC /MD/	3.36M	$978.0M	5.22%	+8.5K	2026-06-30
PRINCIPAL FINANCIAL GROUP INC	2.09M	$610.0M	3.26%	+424.9K	2026-06-30
GEODE CAPITAL MANAGEMENT, LLC	1.95M	$567.0M	3.04%	+28.7K	2026-06-30
NORGES BANK	1.61M	$468.0M	2.50%	+726.2K	2026-06-30
Invesco Ltd.	1.13M	$328.0M	1.75%	+186.0K	2026-06-30