Essex Property (ESS) vs W. P. Carey REIT (WPC)
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 W. P. Carey REIT (WPC) over the past year, gaining 2.3% versus a loss of 8.0%. Over five years, WPC leads with a -16.8% price change compared with -19.5% for ESS. Essex Property is the larger company by market cap ($18.48 billion vs $14.29 billion), about 1.3 times the size, while W. P. Carey REIT is growing revenue faster (+8.4% vs +6.4%).
On valuation, W. P. Carey REIT trades at a lower forward P/E (19.9x vs 42.6x for Essex Property). W. P. Carey REIT offers the higher dividend yield (5.90% vs 3.85%). Essex Property converts more of its revenue into profit, with a net margin of 37.2% versus 27.2%.
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 | WPC |
|---|---|---|
| Share price | $268.05 | $62.73 |
| Market cap | $18.48B | $14.29B |
| 1-day change | -1.63% | -2.00% |
| YTD return | +2.43% | -2.53% |
| 1-year return | +2.28% | -8.03% |
| 5-year return | -19.53% | -16.81% |
| P/E ratio (TTM) | 41.69 | 21.48 |
| Forward P/E | 42.55 | 19.92 |
| EPS (TTM) | $6.43 | $2.92 |
| Dividend yield | 3.85% | 5.90% |
| Annual dividend | $10.32 | $3.70 |
| Revenue (latest FY) | $1.89B | $1.72B |
| Revenue growth (YoY) | +6.36% | +8.43% |
| Net income (latest FY) | $702.77M | $466.36M |
| Gross margin | 69.89% | — |
| Operating margin | 47.65% | — |
| Net margin | 37.24% | 27.17% |
| 52-week high | $303.35 | $77.22 |
| 52-week low | $238.46 | $62.71 |
| Distance from 52-week high | -11.64% | -18.76% |
| Analyst consensus | hold | buy |
| Avg. price target upside | +13.44% | +24.57% |
| Average volume | 496.81K | 1.40M |
| Shares outstanding | 64.27M | 227.82M |
| Employees | 1,686 | 199 |
| 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 WPC by 10.3 percentage points over the past year.
- Essex Property trades at a higher earnings multiple (41.7x vs 21.5x trailing P/E).
- W. P. Carey REIT offers a meaningfully higher dividend yield (5.90% vs 3.85%).
- Essex Property is more profitable, keeping 37.2 cents of every revenue dollar as net income versus 27.2 cents for W. P. Carey REIT.
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 W. P. Carey REIT
WPC stock →W. P.
Real Estate · Real Estate Investment Trusts · 199 employees
ESS vs WPC FAQ
Which is bigger, Essex Property or W. P. Carey REIT?
Essex Property (ESS) is larger, with a market capitalization of $18.48B compared with $14.29B for W. P. Carey REIT (WPC).
Which stock has performed better over the past year, ESS or WPC?
ESS returned +2.28% over the past 12 months, compared with -8.03% for WPC (price return, excluding dividends). Past performance does not predict future results.
Which has the lower P/E ratio, ESS or WPC?
WPC has the lower trailing P/E at 21.5, versus 41.7 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 W. P. Carey REIT?
W. P. Carey REIT has the higher yield at 5.90%, compared with 3.85% for Essex Property.
Are Essex Property and W. P. Carey REIT in the same industry?
Yes. Both are classified in the Real Estate Investment Trusts industry within the Real Estate sector.