San Mateo, California-based Essex Property Trust, Inc. (ESS) acquires, develops, redevelops, and manages multifamily residential properties in selected West Coast markets. With a market cap of $18.5 billion, the company has ownership interests in 256 apartment communities comprising over 62,000 apartment homes with an additional property in active development.
Shares of this fully integrated REIT have underperformed the broader market over the past year. ESS has gained 6.5% over this time frame, while the broader S&P 500 Index ($SPX) has rallied nearly 18.7%. In 2026, ESS’ stock rose 8.9%, compared to the SPX’s 12.1% rise on a YTD basis.
