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170.47 (1y: +12%)
Market Cap 6.42 B P/E(ttm) 49.80
Enterprise Value 7.6 B P/B 3.60
ESS- NYSE (USA)
Essex Property Trust
  • Currently 1/5
Business Predictability Rank: 1-Star (On Watch)
Back Testing Results:
Average gain of all 1-Star stocks: 1.1% per year.
% of Stocks that are in still loss if held for 10yrs: 45%.
Read more:
What is Predictability Rank?
Performances of real portfolio
Top Ranked Predictable Companies
$170.47
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GuruFocus Financial Strength Rank measures how strong a company’s financial situation is. It is based on these factors

1. The debt burden that the company has as measured by its Interest coverage (current year).
2. Debt to revenue ratio. The lower, the better
3. Altman Z-score.

A company ranks high with financial strength is likely to withstand any business slowdowns and recessions.

Financial Strength : 6/10

vs
industry		 vs
history
Cash to Debt 0.027
ESS's Cash to Debt is ranked higher than
57% of the 249 Companies
in the Global REIT - Residential industry.

( Industry Median: 0.06 vs. ESS: 0.027 )
ESS' s 10-Year Cash to Debt Range
Min: 0.01   Max: 0.08
Current: 0.03
0.01
0.08
Equity to Asset 0.364
ESS's Equity to Asset is ranked lower than
62% of the 249 Companies
in the Global REIT - Residential industry.

( Industry Median: 0.45 vs. ESS: 0.364 )
ESS' s 10-Year Equity to Asset Range
Min: 0.25   Max: 0.37
Current: 0.36
0.25
0.37
Interest Coverage 2
ESS's Interest Coverage is ranked higher than
51% of the 249 Companies
in the Global REIT - Residential industry.

( Industry Median: 2.05 vs. ESS: 2 )
ESS' s 10-Year Interest Coverage Range
Min: 0   Max: No Debt
Current: 2
F-Score: 7
Z-Score: 0.97
M-Score: -3.82
GuruFocus Profitability Rank ranks how profitable a company is and how likely the company’s business will stay that way. It is based on these factors:

1. Operating Margin
2. Trend of the Operating Margin (5-year average). The company with an uptrend profit margin has a higher rank.
••3. Consistency of the profitability
4. Piotroski F-Score
5. Predictability Rank•

The maximum rank is 10. A rank of 7 or higher means a higher profitability and may stay that way. A rank of 3 or lower indicates that the company has had trouble to make a profit.

Profitability Rank is not directly related to the Financial Strength Rank. But if a company is consistently profitable, its financial strength will be stronger.

Profitability & Growth : 5/10

vs
industry		 vs
history
Operating margin (%) 31.10
ESS's Operating margin (%) is ranked higher than
55% of the 249 Companies
in the Global REIT - Residential industry.

( Industry Median: 29.40 vs. ESS: 31.10 )
ESS' s 10-Year Operating margin (%) Range
Min: 6.4   Max: 52.9
Current: 31.1
6.4
52.9
Net-margin (%) 23.1
ESS's Net-margin (%) is ranked lower than
53% of the 249 Companies
in the Global REIT - Residential industry.

( Industry Median: 16.30 vs. ESS: 23.1 )
ESS' s 10-Year Net-margin (%) Range
Min: 8.6   Max: 29.8
Current: 23.1
8.6
29.8
ROE (%) 7.1
ESS's ROE (%) is ranked higher than
51% of the 249 Companies
in the Global REIT - Residential industry.

( Industry Median: 4.40 vs. ESS: 7.1 )
ESS' s 10-Year ROE (%) Range
Min: 3.1   Max: 14.6
Current: 7.1
3.1
14.6
ROA (%) 2.6
ESS's ROA (%) is ranked lower than
52% of the 249 Companies
in the Global REIT - Residential industry.

( Industry Median: 2.00 vs. ESS: 2.6 )
ESS' s 10-Year ROA (%) Range
Min: 1   Max: 4.1
Current: 2.6
1
4.1
ROC (Joel Greenblatt) (%) 3.20
ESS's ROC (Joel Greenblatt) (%) is ranked higher than
65% of the 249 Companies
in the Global REIT - Residential industry.

( Industry Median: 4.00 vs. ESS: 3.20 )
ESS' s 10-Year ROC (Joel Greenblatt) (%) Range
Min: 0.9   Max: 9.8
Current: 3.2
0.9
9.8
Revenue Growth (%) 2.8
ESS's Revenue Growth (%) is ranked higher than
74% of the 249 Companies
in the Global REIT - Residential industry.

( Industry Median: -4.95 vs. ESS: 2.8 )
ESS' s 10-Year Revenue Growth (%) Range
Min: -2.8   Max: 8.1
Current: 2.8
-2.8
8.1
EBITDA Growth (%) 19.7
ESS's EBITDA Growth (%) is ranked higher than
92% of the 249 Companies
in the Global REIT - Residential industry.

( Industry Median: -4.20 vs. ESS: 19.7 )
ESS' s 10-Year EBITDA Growth (%) Range
Min: -5.4   Max: 19.7
Current: 19.7
-5.4
19.7
EPS Growth (%) 4
ESS's EPS Growth (%) is ranked higher than
67% of the 249 Companies
in the Global REIT - Residential industry.

( Industry Median: -3.90 vs. ESS: 4 )
ESS' s 10-Year EPS Growth (%) Range
Min: -28   Max: 9.6
Current: 4
-28
9.6
» ESS's 10-Y Financials

Financials


Revenue & Net Income
Cash & Debt
Oprt. Cash Flow & Free Cash Flow

» Details

Guru Trades
Q2 2012

ESS Guru Trades in Q2 2012

Chris Davis 333,619 sh (+2.18%)
Jeremy Grantham 20,380 sh (+1.04%)
Pioneer Investments 8,500 sh (unchged)
Ron Baron 1,550 sh (unchged)
Chuck Royce 91,000 sh (unchged)
Steven Romick -88,200 sh (unchged)
Ken Heebner 695,000 sh (unchged)
Richard Perry Sold Out
James Barrow 833,525 sh (-3.84%)
Ken Fisher 46,992 sh (-18.26%)
» More
Q3 2012

ESS Guru Trades in Q3 2012

Ken Fisher 57,882 sh (+23.17%)
Pioneer Investments 8,900 sh (+4.71%)
Chris Davis 335,813 sh (+0.66%)
Steven Romick -88,200 sh (unchged)
Ken Heebner 695,000 sh (unchged)
Chuck Royce 91,000 sh (unchged)
Ron Baron Sold Out
James Barrow 827,795 sh (-0.69%)
Jeremy Grantham 18,580 sh (-8.83%)
» More
Q4 2012

ESS Guru Trades in Q4 2012

Steven Cohen 2,278 sh (New)
Jim Simons 108,200 sh (New)
Ken Fisher 63,155 sh (+9.11%)
Jeremy Grantham 16,730 sh (unchged)
Steven Romick -88,200 sh (unchged)
Chuck Royce 91,000 sh (unchged)
Pioneer Investments Sold Out
Ken Heebner 675,000 sh (-2.88%)
Chris Davis 279,726 sh (-16.7%)
James Barrow 389,620 sh (-52.93%)
» More
Q1 2013

ESS Guru Trades in Q1 2013

Chris Davis 301,390 sh (+7.74%)
Ken Fisher 66,685 sh (+5.59%)
Chuck Royce 91,000 sh (unchged)
Steven Romick -88,200 sh (unchged)
Jim Simons Sold Out
Steven Cohen Sold Out
Jeremy Grantham Sold Out
Ken Heebner 536,500 sh (-20.52%)
James Barrow 79,249 sh (-79.66%)
» More
» Details

Insider Trades

Latest Guru Trades with ESS

GuruDate Trades Impact to Portfolio Price Range * (?) Current Price Change from Average Current Shares
James Barrow 2013-03-31 Reduce -79.66%0.09%$146.65 - $155.05 $ 170.4713%79249
James Barrow 2012-12-31 Reduce -52.93%0.13%$138.08 - $150 $ 170.4718%389620
Ron Baron 2012-09-30 Sold Out 0.0015%$148.24 - $160.28 $ 170.4710%0
Richard Perry 2012-06-30 Sold Out 0.04%$146.93 - $159.71 $ 170.4712%0
Richard Perry 2012-03-31 New Buy0.04%$136.94 - $150.77 $ 170.4726%5000
Ron Baron 2011-12-31 New Buy$114.6 - $146.45 $ 170.4728%1550
James Barrow 2011-06-30 New Buy0.24%$123.49 - $137.71 $ 170.4729%866640
Premium More recent guru trades are included for Premium Members only!!

Preferred stocks of Essex Property Trust

SymbolPriceYieldDescription
ESSFO30.001.00

Ratios

vs
industry		 vs
history
P/E(ttm) 49.80
ESS's P/E(ttm) is ranked lower than
64% of the 249 Companies
in the Global REIT - Residential industry.

( Industry Median: 26.15 vs. ESS: 49.80 )
ESS' s 10-Year P/E(ttm) Range
Min: 13.73   Max: 150.25
Current: 49.8
13.73
150.25
P/B 3.60
ESS's P/B is ranked lower than
91% of the 249 Companies
in the Global REIT - Residential industry.

( Industry Median: 1.30 vs. ESS: 3.60 )
ESS' s 10-Year P/B Range
Min: 1.62   Max: 5.74
Current: 3.6
1.62
5.74
P/S 10.80
ESS's P/S is ranked lower than
85% of the 249 Companies
in the Global REIT - Residential industry.

( Industry Median: 6.20 vs. ESS: 10.80 )
ESS' s 10-Year P/S Range
Min: 3.31   Max: 10.8
Current: 10.8
3.31
10.8
PFCF 64.80
ESS's PFCF is ranked lower than
57% of the 249 Companies
in the Global REIT - Residential industry.

( Industry Median: 25.77 vs. ESS: 64.80 )
ESS' s 10-Year PFCF Range
Min: 22.64   Max: 159.09
Current: 64.8
22.64
159.09
EV-to-EBIT 43.5
ESS's EV-to-EBIT is ranked lower than
62% of the 249 Companies
in the Global REIT - Residential industry.

( Industry Median: 28.60 vs. ESS: 43.5 )
ESS' s 10-Year EV-to-EBIT Range
Min: 10.4   Max: 191
Current: 43.5
10.4
191
PEG 3.2
ESS's PEG is ranked lower than
67% of the 249 Companies
in the Global REIT - Residential industry.

( Industry Median: 2.00 vs. ESS: 3.2 )
ESS' s 10-Year PEG Range
Min: 0.6   Max: 340.15
Current: 3.2
0.6
340.15
Shiller P/E 66.7
ESS's Shiller P/E is ranked lower than
52% of the 249 Companies
in the Global REIT - Residential industry.

( Industry Median: 10.60 vs. ESS: 66.7 )
ESS' s 10-Year Shiller P/E Range
Min: 17.03   Max: 66.7
Current: 66.7
17.03
66.7

Dividend & Buy Back

vs
industry		 vs
history
Dividend Yield 2.70
ESS's Dividend Yield is ranked lower than
69% of the 249 Companies
in the Global REIT - Residential industry.

( Industry Median: 4.40 vs. ESS: 2.70 )
ESS' s 10-Year Dividend Yield Range
Min: 2.31   Max: 7.5
Current: 2.7
2.31
7.5
Dividend Payout 1.3225
ESS's Dividend Payout is ranked lower than
53% of the 249 Companies
in the Global REIT - Residential industry.

( Industry Median: 1.24 vs. ESS: 1.3225 )
ESS' s 10-Year Dividend Payout Range
Min: 0.81   Max: 3.42
Current: 1.32
0.81
3.42
Dividend growth (3y) 1.7
ESS's Dividend growth (3y) is ranked higher than
87% of the 249 Companies
in the Global REIT - Residential industry.

( Industry Median: -8.45 vs. ESS: 1.7 )
ESS' s 10-Year Dividend growth (3y) Range
Min: 0.5   Max: 9.4
Current: 1.7
0.5
9.4
Yield on cost (5-Year) 2.92
ESS's Yield on cost (5-Year) is ranked lower than
53% of the 249 Companies
in the Global REIT - Residential industry.

( Industry Median: 4.00 vs. ESS: 2.92 )
ESS' s 10-Year Yield on cost (5-Year) Range
Min: 2.5   Max: 8.12
Current: 2.92
2.5
8.12
Share Buyback Rate -4.2
ESS's Share Buyback Rate is ranked higher than
67% of the 249 Companies
in the Global REIT - Residential industry.

( Industry Median: -7.50 vs. ESS: -4.2 )
ESS' s 10-Year Share Buyback Rate Range
Min: -0.3   Max: -6.5
Current: -4.2

Valuation & Return

vs
industry		 vs
history
Price/Tangible Book 3.7
ESS's Price/Tangible Book is ranked higher than
92% of the 249 Companies
in the Global REIT - Residential industry.

( Industry Median: 1.30 vs. ESS: 3.7 )
ESS' s 10-Year Price/Tangible Book Range
Min: 1.9   Max: 5
Current: 3.7
1.9
5
Price/DCF (Projected) 6.6
ESS's Price/DCF (Projected) is ranked higher than
96% of the 249 Companies
in the Global REIT - Residential industry.

( Industry Median: 2.20 vs. ESS: 6.6 )
ESS' s 10-Year Price/DCF (Projected) Range
Min: 6.1   Max: 6.1
Current: 6.6
Price/Median PS Value 1.7
ESS's Price/Median PS Value is ranked higher than
81% of the 249 Companies
in the Global REIT - Residential industry.

( Industry Median: 1.10 vs. ESS: 1.7 )
ESS' s 10-Year Price/Median PS Value Range
Min: 0.7   Max: 1.5
Current: 1.7
0.7
1.5
Price/Peter Lynch Fair Value 3
ESS's Price/Peter Lynch Fair Value is ranked lower than
69% of the 249 Companies
in the Global REIT - Residential industry.

( Industry Median: 1.95 vs. ESS: 3 )
ESS' s 10-Year Price/Peter Lynch Fair Value Range
Min: 1.5   Max: 11.6
Current: 3
1.5
11.6
Price/Graham Number 2.6
ESS's Price/Graham Number is ranked higher than
92% of the 249 Companies
in the Global REIT - Residential industry.

( Industry Median: 1.30 vs. ESS: 2.6 )
ESS' s 10-Year Price/Graham Number Range
Min: 1.4   Max: 4.4
Current: 2.6
1.4
4.4
Earnings Yield (Greenblatt) 2.30
ESS's Earnings Yield (Greenblatt) is ranked higher than
59% of the 249 Companies
in the Global REIT - Residential industry.

( Industry Median: 2.60 vs. ESS: 2.30 )
ESS' s 10-Year Earnings Yield (Greenblatt) Range
Min: 0.5   Max: 9.6
Current: 2.3
0.5
9.6
Forward Rate of Return (Yacktman) 14.83
ESS's Forward Rate of Return (Yacktman) is ranked higher than
71% of the 249 Companies
in the Global REIT - Residential industry.

( Industry Median: -7.64 vs. ESS: 14.83 )
ESS' s 10-Year Forward Rate of Return (Yacktman) Range
Min: -22.1   Max: 39.3
Current: 14.83
-22.1
39.3

Business Description

Essex Property Trust, Inc. is a Maryland corporation. It completed an initial public offering on June 13, 1994. The Company is a self-administered and self-managed REIT that acquires, develops, redevelops and manages apartment communities in selected residential areas located primarily in the West Coast of the United States. Acquisitions are an important component of its business plan. The Company defines development activities as new communities that are in various stages of active development, or the community is in lease-up and phases of the project are not completed. Its Business Strategy are Research Driven Approach, Property Operations. The Company defines redevelopment communities as existing properties owned or recently acquired, which have been targeted for additional investment by the Company with the expectation of increased financial returns through property improvement. During redevelopment, apartment units may not be available for rent and, as a result, may have less than stabilized operations. Essex Apartment Value Fund II, L.P. ("Fund II"), has eight institutional investors, and the Company, with combined partner equity commitments of $265.9 million which were fully contributed in 2008. The Company carries comprehensive liability, fire, extended coverage and rental loss insurance for each of the communities.Insured risks for comprehensive liabilities covers claims in excess of $25,000 per incident, and property casualty insurance covers losses in excess of a $5.0 million deductible per incident. There are, however, certain types of extraordinary losses, such as, for example, losses from terrorism and earthquakes, for which the Company does not have insurance. Substantially all of the communities are located in areas that are subject to earthquakes. There are numerous housing alternatives that compete with the Company's communities in attracting residents. These include other apartment communities and single-family homes that are available for rent in the markets in which the apartment communities are located. The communities also compete for residents with new and existing homes and condominiums that are for sale. It invests primarily in apartment communities that are located in predominantly coastal markets within Southern California, the San Francisco Bay Area, and the Seattle metropolitan area. The Company currently intends to continue to invest in apartment communities in such regions. The Company intends to continue to operate in a manner that will not subject it to regulation under the Investment Company Act of 1940.
Company Website
SEC Reports
Industry: REIT - Residential
Compare:PPS, EQR, AVB, AGNC, AIV
Traded in other countries:ESSFO.USA, EXP.Germany
» More Articles for ESS

Headlines

Articles On GuruFocus.com
Steven Romick’s Biggest Short Positions Jan 22 2013 
Avalon Bay - This Stock Will Fall This Year Mar 07 2012 
Seventeen Consistent Dividend Raisers in the News Feb 27 2012 
21 Stocks Raising Their Dividends Feb 27 2012 
Value Ideas from Vanguard Windsor II and Selected Value Funds: C, MDT, MRO, JNJ, WFC, ESS, FWRD, RRR Aug 11 2011 
8 Dividend Stocks Yielding Over 3%, With Tiny Payout Ratios Jun 15 2011 
Steven Romick's Top-Five Short Stocks: VZ, ESRX, MHS, AVB, ESS May 25 2011 
23 Stocks With A Vision Of Higher Dividends Feb 28 2011 
Essex Property Trust Inc. Reports Operating Results (10-K) Feb 25 2011 
Essex Property Trust Inc. Reports Operating Results (10-Q) Nov 09 2010 

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