ESSESSEX PROPERTY TRUST, INC.
Real Estate Investment Trusts
- Revenue
- $9M
- 8.6% YoY
- Operating margin
- 9586.6%
- 40% YoY
- EBITDA
- $1.5B
- 17% YoY
- Market cap
- $17.0B
- Employees
- 1,689
- $6K revenue each
- Net debt / EBITDA
- 4.2×
- $6.3B net debt
- AI in 10-K
- 0.9
- mentions per 10K words
Takeover score 2 of 13
Fixable underperformance 1 of 7
- TSR below peersNo—3+ of last 5 years
- High CEO pay despite TSRNo—Median CEO pay ≥ $15M while TSR trails
- Earnings not backed by cashNo275% of net incomeCash flow under 80% of net income
- Dilutive SBCYes103% of revenueOver 10% of revenue
- Payouts exceed cash flowNo0% of cash flowBuybacks + dividends over cash flow
- Goodwill-heavyNo—Over 40% of assets
- Shareholder dissentNo94% lowest supportAny vote under 80% support
Buyer economics 1 of 4
- Low revenue per employeeYes$6K · 3rd pctBottom quartile of its SIC industry
- Quiet on AINo0.9 per 10K words · 32nd pctBottom quartile of AI mentions in 10-Ks
- Net cashNo4.2× EBITDA net debtMore cash than debt, positive EBITDA
- Buyout-sizedNo$17.0B market capMarket cap $500M–$5B
Catalysts 0 of 2
- Active 13DNo0 filingsActive-intent 13D in 18 months
- Net insider sellingNo−$168K netNet sales over $10M in 12 months
Financials
| Metric | FY2021 | FY2022 | FY2023 | FY2024 | FY2025 | YoY |
|---|---|---|---|---|---|---|
| Revenue | $9M | $11M | $11M | $10M | $9M | 8.6% |
| Operating income | $530M | $595M | $584M | $703M | $899M | 28% |
| Operating cash flow | $905M | $976M | $980M | $1.1B | $1.1B | 0.6% |
| Stock-based comp | $7M | $7M | $8M | $7M | $10M | 35% |
| Buybacks | $9M | $190M | $96M | $0 | $0 |
Deal filings
None.
13D filers
None on file.
Insider trading
- Open-market buys, 12 mo
- $0 · 0
- Open-market sells, 12 mo
- $168K · 1
- Net
- −$168K
Pay vs performance
No pay-versus-performance disclosure yet.