Essex Property (ESS) vs Extra Space Storage (EXR)
Head-to-head comparison of performance, valuation, growth, profitability and dividends. Prices delayed 15 minutes; data as of Oct 8, 2026.
Summary
Essex Property (ESS) has outperformed Extra Space Storage (EXR) over the past year, gaining 2.3% versus a loss of 7.8%. Over five years, ESS leads with a -19.5% price change compared with -28.0% for EXR. Extra Space Storage is the larger company by market cap ($29.07 billion vs $18.48 billion), about 1.6 times the size, while Essex Property is growing revenue faster (+6.4% vs +3.7%).
On valuation, Extra Space Storage trades at a lower forward P/E (27.1x vs 42.6x for Essex Property). Extra Space Storage offers the higher dividend yield (4.92% vs 3.85%). Essex Property converts more of its revenue into profit, with a net margin of 37.2% versus 28.8%.
Summary generated from market data by MetaCap's automated system. Methodology
Relative performance
Percent change in share price from the first common trading day shown; excludes dividends.
Head-to-head
| Metric | ESS | EXR |
|---|---|---|
| Share price | $268.05 | $131.70 |
| Market cap | $18.48B | $29.07B |
| 1-day change | -1.63% | -1.64% |
| YTD return | +2.43% | +1.14% |
| 1-year return | +2.28% | -7.82% |
| 5-year return | -19.53% | -28.02% |
| P/E ratio (TTM) | 42.35 | 29.53 |
| Forward P/E | 42.55 | 27.14 |
| EPS (TTM) | $6.33 | $4.46 |
| Dividend yield | 3.85% | 4.92% |
| Annual dividend | $10.32 | $6.48 |
| Revenue (latest FY) | $1.89B | $3.38B |
| Revenue growth (YoY) | +6.36% | +3.70% |
| Net income (latest FY) | $702.77M | $974.00M |
| Gross margin | 69.89% | 72.82% |
| Operating margin | 47.65% | 41.83% |
| Net margin | 37.24% | 28.84% |
| 52-week high | $303.35 | $158.88 |
| 52-week low | $238.46 | $125.71 |
| Distance from 52-week high | -11.64% | -17.11% |
| Analyst consensus | hold | buy |
| Avg. price target upside | +13.44% | +20.16% |
| Average volume | 498.53K | 1.26M |
| Shares outstanding | 64.27M | 211.27M |
| Employees | 1,686 | 8,393 |
| Sector | Real Estate | Real Estate |
| Industry | Real Estate Investment Trusts | Real Estate Investment Trusts |
Highlighted cells mark the higher value for growth, returns, margins and yield, and the lower value for P/E ratios. Highlighting is a mechanical comparison, not a recommendation.
Key differences
- ESS has outperformed EXR by 10.1 percentage points over the past year.
- Essex Property trades at a higher earnings multiple (42.3x vs 29.5x trailing P/E).
- Extra Space Storage offers a meaningfully higher dividend yield (4.92% vs 3.85%).
- Essex Property is more profitable, keeping 37.2 cents of every revenue dollar as net income versus 28.8 cents for Extra Space Storage.
About Essex Property
ESS stock →Essex Property Trust, Inc., an S&P 500 company, is a fully integrated real estate investment trust. The firm acquires, develops, redevelops, and manages multifamily residential properties in selected West Coast markets.
Real Estate · Real Estate Investment Trusts · 1,686 employees
About Extra Space Storage
EXR stock →Extra Space Storage Inc., headquartered in Salt Lake City, Utah, is a self-administered and self-managed REIT and a member of the S&P 500. As of June 30, 2026, the Company owned and/or operated 4,410 self-storage stores in 42 states and Washington, D.C.
Real Estate · Real Estate Investment Trusts · 8,393 employees
ESS vs EXR FAQ
Which is bigger, Essex Property or Extra Space Storage?
Extra Space Storage (EXR) is larger, with a market capitalization of $29.07B compared with $18.48B for Essex Property (ESS).
Which stock has performed better over the past year, ESS or EXR?
ESS returned +2.28% over the past 12 months, compared with -7.82% for EXR (price return, excluding dividends). Past performance does not predict future results.
Which has the lower P/E ratio, ESS or EXR?
EXR has the lower trailing P/E at 29.5, versus 42.3 for ESS. A lower P/E is not by itself a sign of a better investment; it can reflect slower expected growth or higher risk.
Which pays a higher dividend, Essex Property or Extra Space Storage?
Extra Space Storage has the higher yield at 4.92%, compared with 3.85% for Essex Property.
Are Essex Property and Extra Space Storage in the same industry?
Yes. Both are classified in the Real Estate Investment Trusts industry within the Real Estate sector.