ESSEssex Property Trust
Is it safe?
Nothing alarming, nothing pristine: comfortable debt (BBB) and steady price behavior.
Investment-grade balance sheet. A rule of thumb on leverage, not a credit rating.
Relatively steady, low volatility. Worst drawdown -45% · now 10% below its 52-week high.
Against the whole market›
Percentile against every name Ryufin tracks. Higher is better; the tick marks the middle of the market. Context, not one of the checks above.
Where this answer is blind. Altman sits structurally low for utilities and pipelines; Beneish runs high for fast growers, since sales growth alone lifts it; banks and REITs are excluded.
Can ESS take a bad year?
Essex Property Trust carries $6.33B of net debt at 5.10× EBITDA: a heavy load to carry through a bad year.
Net debt · as at Q2 2026 · over four years of earnings before interest, tax and depreciation, heavy
- Net debt / EBITDA
- 5.10×
Net debt / EBITDA · 4.06× a year ago · the load is going up
- Interest cover
- 2.39×
Interest cover · operating profit covers the interest bill, with room to spare
- Annualised volatility
- 23%
Annualised volatility · about as steady as the market itself
Details›
- Total debtQ2 2026
- $6.39B
- Cash and short-term investments
- $58M
- Net debt
- $6.33B
- EBITDA, trailing twelve months
- $1.24B
- Operating profit, trailing twelve months
- $627M
- Debt / equity
- 1.20×
- Total debt / EBITDA
- 5.15×
- Annualised volatilitytwo years of daily moves
- 23%
- Worst drawdown on file
- −45%
- Below its 52-week high
- 9.6%
Balance sheet from SEC filings; drawdown and volatility from end-of-day closes; Altman Z from the filed statements.
Real Estate
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