ESS
ESSEX PROPERTY TRUST, INC.Evidence as of 2026-09-02Overview · ESSEX PROPERTY TRUST, INC.
Essex Property Trust, Inc., an S&P 500 company, is a fully integrated real estate investment trust (REIT) that acquires, develops, redevelops, and manages multifamily residential properties in selected West Coast markets. Essex currently has ownership interests in 252 apartment communities comprising approximately 62,000 apartment homes with an additional property in active development.
Management team
- Mr. Rylan K. Burns · Executive VP & Chief Investment OfficerFind on LinkedIn
- Ms. Anne M. Morrison · Executive VP, Chief Administrative Officer, General Counsel & SecretaryFind on LinkedIn
- Mr. Rylan Burns · Senior Vice President of InvestmentsFind on LinkedIn
- Mr. Paul Burton Morgan · Senior Vice President of Portfolio Strategy & AnalyticsFind on LinkedIn
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Links open LinkedIn searches, not verified profiles. Team data from our market-data vendor's company profile.
Moneyta sentiment
Where the published evidence leans after the desk debated it — not a rating or a recommendation.
+0.5 on a −2 to +2 scale.
What builds the score
Solid bars are analyst rubric scores; faded bars are computed directly from data. Claims dropped in debate count for nothing; weakened claims count at half weight.
Editor's note
Written after the debate settled — the rest of the page is the evidence behind it.
The evidence balance is Constructive (+0.5 of a possible +2; was +0.5 before debate) · confidence high. Reported GAAP revenues rose from $ 464,583,000 in Q1 2025 (fiscal quarter ended 2025-04-28) to $ 489,049,000 in Q2 2026 (fiscal quarter ended 2026-07-23), and gross profit increased from $ 323,468,000 to $ 345,709,000 over the same span, lifting gross margin from about 69.6% to about 70.7%.
At the same time, operating income compressed markedly — $ 279,700,000 in Q2 2025 (fiscal quarter ended 2025-07-23) versus $ 109,373,000 in Q2 2026 (fiscal quarter ended 2026-07-23) — and diluted EPS fell from $ 3.16 in Q1 2025 to $ 0.97 in Q2 2026. Shares outstanding have been essentially stable (weighted-average diluted ~ 64.35M in Q1 2025; reported 64,268,439 as of 2026-07-23), and the company reported buybacks of $ 50,213,000 in Q1 2026 (fiscal quarter ended 2026-04-22) and $ 11,700,000 in Q2 2026 (fiscal quarter ended 2026-07-23).
How this note was made
every stage ran before the note was writtenAnalyst desk
Mercer, Oakes, Nash, Ellis, Yates, Talbot and Archer. The desk: named AI agents, not people. Each reads one slice of the evidence and nothing else — no outside knowledge, no browsing — so every finding traces to a source you can open.
Reads the XBRL figures companies file with the SEC — revenue, margins, income, debt and share count, quarter by quarter — and reports which way the trend is running.
Reported GAAP revenues rose from $464,583,000 in Q1 2025 (2025-01-01 to 2025-03-31, 3mo) to $489,049,000 in fiscal Q2 2026 (2026-04-01 to 2026-06-30, 3mo).
XBRL companyfacts · 0000920522-25-000040Gross profit increased from $323,468,000 in Q1 2025 (2025-01-01 to 2025-03-31, 3mo) to $345,709,000 in fiscal Q2 2026 (2026-04-01 to 2026-06-30, 3mo); gross margin moved from about 69.6% (323,468 / 464,583) in Q1 2025 to about 70.7% (345,709 / 489,049) in fiscal Q2 2026.
XBRL companyfacts · 0000920522-25-000040Reads the filings themselves, above all the year-over-year diff of Item 1A risk factors: which risks a company added, dropped or quietly reworded since its last annual report.
Nothing in this slice of the evidence rose to a claim — a quiet read, which itself is information.
Which filings the desk reads
The desk reads the annual 10-K in full — its risk factors, and how they changed since last year. Quarterly 10-Qs and event filings (8-Ks, insider Form 4s) are listed for context but not read line by line: the 10-K is where the material risk disclosures live. A brand-new company, or one we have only just begun tracking, may have no annual report on file yet — its risk analysis fills in once that lands.
Reads the signal panel above — momentum, volatility, drawdown, relative strength and beta — and ranks each against the whole research universe rather than judging it in isolation.
The 6-month momentum is +11.3% and ranks in the 61th percentile of the 547-stock research universe on 2026-09-01, indicating above-median recent price appreciation.
Moneyta signal set · 2026-09-01weakened in debateThe 12-month through 1-month momentum (momentum_12_1) is +14.2% and ranks in the 51th percentile of the universe on 2026-09-01, roughly middling versus peers.
Moneyta signal set · 2026-09-01weakened in debateReads which funds hold the name and at what weight, plus insider Form 4 filings, to show the exposure you may already carry through index funds.
As of 2026-09-02T01:55:23.601495+00:00, VO held ESS at a weight of 0.22% of the fund.
ETF constituents · market dataAs of the timestamps shown on 2026-09-01 to 2026-09-02, ESS appears as a small-weight holding in multiple large ETFs: VTV at 0.09%, SCHX at 0.04%, VOO at 0.04%, SCHB at 0.03%, and IVV at 0.03% of their respective funds.
ETF constituents · market dataReads recent headlines that are genuinely about this company, ignoring rating chatter and market-wide stories. Findings argue in the debate but never move the sentiment score.
Existing ESS Tech stockholders would hold roughly 5% to 10% of the combined company under the proposed business combination announced in early August.
News · au.finance.yahoo.com · 2026-09-01The same report about existing ESS Tech stockholders owning roughly 5% to 10% of the combined company is carried by a separate Yahoo Finance feed.
News · finance.yahoo.com · 2026-09-01Reads parsed Forms 3/4/5 — who bought or sold, at what size, and whether a 10b5-1 plan was involved. Flags clustered open-market officer buying; treats plan sales as routine and never counts a fund or 10%-holder as an officer.
No insider transactions on file in the trailing 180 days.
Reads the implied-expectations math built from the company's own filings (the growth rate today's price would justify, and the multiples beside it) and argues whether the market's bar looks high or low for this business. Never turns the math into a target.
Trailing-12-month price-to-earnings (P/E) is 32.37 based on the inputs provided.
Valuation inputs · SEC XBRL + stored EOD closeTrailing-12-month enterprise-value-to-EBITDA (EV/EBITDA) is 18.15 using the reported EBITDA and enterprise value.
Valuation inputs · SEC XBRL + stored EOD closeDebate and risk review
A bull and a bear contest the claims and the chair rules on each; the risk review stress-tests what survived.
A bull and a bear argue the analysts' claims across two rounds, then a chair rules on each one. Only what survives feeds the score — the argument is shown, not hidden, so you can judge the reasoning yourself.
Several claims jointly support a constructive read: reported revenues (fundamentals-0) and gross profit (fundamentals-1) both rose over the reported span, with a modest gross-margin uptick. Share-count stability and active buybacks (fundamentals-4, fundamentals-5) reinforce per-share capital allocation focus. Market signals — above-median 6-month momentum, a golden cross, elevated dividend yield in the 86th percentile, and low beta/correlation with the S&P (market-0, market-2, market-3, market-4) — align with the fundamental improvement and suggest investor demand and income-oriented appeal. While some metrics flag deterioration (operating income and EPS), the material non-cash depreciation & amortization run-rate (valuation-4) and strong trailing operating cash flow (valuation-3) provide context that the profitability compression may be influenced by non-cash charges or timing; the company also reduced long-term debt and executed buybacks (fundamentals-6, fundamentals-5), which together support a favorable interpretation of the reported data.
Chair's verdict, claim by claim
Fragility · computed, not argued
balanced0.34
29 surviving claims rest on 14 distinct sources; the heaviest analyst carries 24% of them, and 93% of what the desk raised survived the debate.
The read rests on a moderate number of distinct sources but a non-trivial share of claims are concentrated with a single analyst; that increases dependence on that contributor’s interpretations. A 93% survival rate from the desk debate shows strong internal consensus, but the combination of source concentration and analyst weight means the set of claims carries moderate fragility — useful for situational awareness but warranting confirmation from additional, independent filings or market data before giving them high evidentiary weight.
Peer context · computed, not argued
12-1 momentum ranks 1st of 4 in REIT—Residential (as of 2026-09-01).
dividend yield ranks 2nd of 2 in REIT—Residential (as of 2026-09-01).
Disconfirming evidence · base rates · falsifiers
Context
Outside consensus, and where this name already sits in your own portfolio.
Third-party consensus shown for context. It never enters Moneyta sentiment — when the two diverge, the debate above is where the why lives.
What this was built from
Every figure on this page traces to one of these. The desk reads only what is listed here — no outside knowledge, no browsing — and each card shows who read it and what it contributed to the score.
16 filings· 1 cited
SEC XBRL filings
Quarterly figures as filed with the SEC, read straight from EDGAR's structured data — not retyped or estimated.
Read by Mercer+0.2 to the score
1 signal set
Moneyta signal set
Computed from our own end-of-day price history and ranked against the whole research universe. No AI involved.
Read by Nash+0.7 to the score
2 holdings records· 1 cited
Fund holdings
Which funds hold this name and at what weight, plus insider Form 4 filings.
Read by Ellis+0.7 to the score
6 headlines· 2 cited
News coverage
Recent headlines about this company, rating chatter excluded and nothing published after the report date.
Read by Yatesnothing survived
1 computation
Valuation inputs
TTM cash-flow figures from the company's own XBRL filings, priced with the stored closing price. Implied growth and multiples only; no fair-value dollar figure reaches the desk, by design.
Read by Archercontext only
1 record· 0 cited
Company profile
Sector, industry and company details.
1 record· 0 cited
Analyst consensus
Third-party consensus, shown for context only — it never enters Moneyta sentiment.
Read means we pulled and handed it to an analyst; cited means a claim on this page points at it. Reading twelve quarters to state one trend is normal — the gap is shown rather than hidden.
Written by AI, checked against sources
The analysts, the bull–bear debate and the editor's note are AI agents reading only the evidence listed on this page. They can misread a filing or a headline, which is why every claim cites a source you can open and check yourself. The sentiment score is arithmetic over the claims that survived the debate, not a language model's opinion.
Educational analysis of published data. Moneyta does not give investment advice or make recommendations. Past patterns do not indicate future results.
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The full terminal on ESS Gold
Who holds it, who's buying, what the Street thinks: live behind the lock, updated as filings land.
Institutional holders
Net institutional flow, Q/Q
Largest holder position
Insider buys, 90 days
Clustered insider value
Street target range
The real figures are for members. Educational analysis, not advice.
Educational analysis of published data. Moneyta does not give investment advice or make recommendations.