ESS vs. SPG: A Head-to-Head Stock Comparison

Updated on October 3, 2025

Here’s a clear look at ESS and SPG, comparing key factors like historical performance, profitability, financial strength, growth, dividend, and valuation.

Company Profile

Both ESS and SPG are Real Estate Investment Trusts (REITs). These entities are required to distribute the majority of their taxable income to shareholders, often resulting in higher dividend yields.

Symbol	ESS	SPG
Company Name	Essex Property Trust, Inc.	Simon Property Group, Inc.
Country	United States	United States
GICS Sector	Real Estate	Real Estate
GICS Industry	Residential REITs	Retail REITs
Market Capitalization	18.50 billion USD	69.93 billion USD
Exchange	NYSE	NYSE
Listing Date	June 7, 1994	December 14, 1993
Security Type	REIT	REIT

Historical Performance

This chart compares the performance of ESS and SPG by tracking the growth of an initial $10,000 investment in each. Use the tabs to select the desired time period. Data is adjusted for dividends and splits.

ESS vs. SPG: Growth of a $10,000 investment over the past one year.

Historical Performance at a Glance

Symbol	ESS	SPG
5-Day Price Return	1.16%	1.73%
13-Week Price Return	-5.55%	13.08%
26-Week Price Return	-12.60%	12.00%
52-Week Price Return	-9.14%	9.90%
Month-to-Date Return	-0.94%	-1.02%
Year-to-Date Return	-6.23%	7.87%
10-Day Avg. Volume	0.41M	2.09M
3-Month Avg. Volume	0.48M	1.63M
3-Month Volatility	24.66%	18.00%
Beta	0.85	1.43

Profitability

Return on Equity (TTM)

ESS

14.44%

Residential REITs Industry

Max: 17.50%
Q3: 9.60%
Median: 6.78%
Q1: 3.88%
Min: -0.69%

In the upper quartile for the Residential REITs industry, ESS’s Return on Equity of 14.44% signals a highly effective use of shareholder capital to drive profitability compared to most of its peers.

SPG

79.00%

Retail REITs Industry

Max: 16.17%
Q3: 9.03%
Median: 6.12%
Q1: 3.81%
Min: -3.17%

SPG’s Return on Equity of 79.00% is exceptionally high, placing it well beyond the typical range for the Retail REITs industry. This demonstrates a superior ability to generate profit from shareholder investments, though it could also be inflated by high financial leverage.

ESS vs. SPG: A comparison of their Return on Equity (TTM) against their respective Residential REITs and Retail REITs industry benchmarks.

Net Profit Margin (TTM)

ESS

43.51%

Residential REITs Industry

Max: 53.28%
Q3: 43.51%
Median: 25.98%
Q1: 9.99%
Min: -0.30%

In the Residential REITs industry, Net Profit Margin is often not the primary profitability metric.

SPG

35.06%

Retail REITs Industry

Max: 75.53%
Q3: 49.82%
Median: 28.35%
Q1: 20.68%
Min: -8.79%

In the Retail REITs industry, Net Profit Margin is often not the primary profitability metric.

ESS vs. SPG: A comparison of their Net Profit Margin (TTM) against their respective Residential REITs and Retail REITs industry benchmarks.

Operating Profit Margin (TTM)

ESS

52.69%

Residential REITs Industry

Max: 54.66%
Q3: 47.76%
Median: 29.76%
Q1: 18.99%
Min: -0.66%

In the Residential REITs industry, Operating Profit Margin is often not the primary measure of operational efficiency.

SPG

50.96%

Retail REITs Industry

Max: 102.11%
Q3: 58.14%
Median: 38.63%
Q1: 25.00%
Min: -8.87%

In the Retail REITs industry, Operating Profit Margin is often not the primary measure of operational efficiency.

ESS vs. SPG: A comparison of their Operating Profit Margin (TTM) against their respective Residential REITs and Retail REITs industry benchmarks.

Profitability at a Glance

Symbol	ESS	SPG
Return on Equity (TTM)	14.44%	79.00%
Return on Assets (TTM)	6.16%	6.44%
Net Profit Margin (TTM)	43.51%	35.06%
Operating Profit Margin (TTM)	52.69%	50.96%
Gross Profit Margin (TTM)	70.55%	82.17%

Financial Strength

Current Ratio (MRQ)

ESS

0.71

Residential REITs Industry

Max: 1.58
Q3: 0.84
Median: 0.56
Q1: 0.10
Min: 0.00

ESS’s Current Ratio of 0.71 aligns with the median group of the Residential REITs industry, indicating that its short-term liquidity is in line with its sector peers.

SPG

0.52

Retail REITs Industry

Max: 1.74
Q3: 0.97
Median: 0.55
Q1: 0.32
Min: 0.07

SPG’s Current Ratio of 0.52 aligns with the median group of the Retail REITs industry, indicating that its short-term liquidity is in line with its sector peers.

ESS vs. SPG: A comparison of their Current Ratio (MRQ) against their respective Residential REITs and Retail REITs industry benchmarks.

Debt-to-Equity Ratio (MRQ)

ESS

1.20

Residential REITs Industry

Max: 1.64
Q3: 1.10
Median: 0.83
Q1: 0.68
Min: 0.28

ESS’s leverage is in the upper quartile of the Residential REITs industry, with a Debt-to-Equity Ratio of 1.20. While this approach can boost equity growth, it also exposes the company to greater financial vulnerability.

SPG

10.36

Retail REITs Industry

Max: 2.06
Q3: 1.27
Median: 0.92
Q1: 0.68
Min: 0.34

With a Debt-to-Equity Ratio of 10.36, SPG operates with exceptionally high leverage compared to the Retail REITs industry norm. This suggests an aggressive reliance on debt financing, which can magnify returns but also significantly elevates financial risk.

ESS vs. SPG: A comparison of their Debt-to-Equity Ratio (MRQ) against their respective Residential REITs and Retail REITs industry benchmarks.

Interest Coverage Ratio (TTM)

ESS

8.86

Residential REITs Industry

Max: 5.11
Q3: 4.01
Median: 2.53
Q1: 1.52
Min: 0.52

With an Interest Coverage Ratio of 8.86, ESS demonstrates a superior capacity to service its debt, placing it well above the typical range for the Residential REITs industry. This stems from either robust earnings or a conservative debt load.

SPG

11.31

Retail REITs Industry

Max: 4.31
Q3: 3.30
Median: 2.15
Q1: 1.29
Min: -0.08

With an Interest Coverage Ratio of 11.31, SPG demonstrates a superior capacity to service its debt, placing it well above the typical range for the Retail REITs industry. This stems from either robust earnings or a conservative debt load.

ESS vs. SPG: A comparison of their Interest Coverage Ratio (TTM) against their respective Residential REITs and Retail REITs industry benchmarks.

Financial Strength at a Glance

Symbol	ESS	SPG
Current Ratio (MRQ)	0.71	0.52
Quick Ratio (MRQ)	0.17	0.52
Debt-to-Equity Ratio (MRQ)	1.20	10.36
Interest Coverage Ratio (TTM)	8.86	11.31

Growth

Revenue Growth

ESS vs. SPG: A side-by-side comparison of their Revenue Growth for the MRQ (YoY), TTM (YoY), 3-Year CAGR, and 5-Year CAGR periods.

EPS Growth

ESS vs. SPG: A side-by-side comparison of their EPS Growth for the MRQ (YoY), TTM (YoY), 3-Year CAGR, and 5-Year CAGR periods.

Dividend

Dividend Yield (TTM)

ESS

3.70%

Residential REITs Industry

Max: 4.67%
Q3: 4.30%
Median: 3.71%
Q1: 3.53%
Min: 3.04%

ESS’s Dividend Yield of 3.70% is consistent with its peers in the Residential REITs industry, providing a dividend return that is standard for its sector.

SPG

4.46%

Retail REITs Industry

Max: 6.92%
Q3: 5.10%
Median: 4.50%
Q1: 3.89%
Min: 2.37%

SPG’s Dividend Yield of 4.46% is consistent with its peers in the Retail REITs industry, providing a dividend return that is standard for its sector.

ESS vs. SPG: A comparison of their Dividend Yield (TTM) against their respective Residential REITs and Retail REITs industry benchmarks.

Dividend Payout Ratio (TTM)

ESS

79.64%

Residential REITs Industry

Max: 214.13%
Q3: 138.72%
Median: 103.63%
Q1: 84.15%
Min: 22.05%

ESS’s Dividend Payout Ratio of 79.64% is in the lower quartile for the Residential REITs industry. This suggests a conservative dividend policy, with a strategic focus on reinvesting profits for future growth.

SPG

129.03%

Retail REITs Industry

Max: 195.40%
Q3: 125.60%
Median: 85.02%
Q1: 51.07%
Min: 12.86%

SPG’s Dividend Payout Ratio of 129.03% is in the upper quartile for the Retail REITs industry. This indicates a strong commitment to shareholder returns but also suggests that a smaller portion of earnings is retained for reinvestment compared to many peers.

ESS vs. SPG: A comparison of their Dividend Payout Ratio (TTM) against their respective Residential REITs and Retail REITs industry benchmarks.

Dividend at a Glance

Symbol	ESS	SPG
Dividend Yield (TTM)	3.70%	4.46%
Dividend Payout Ratio (TTM)	79.64%	129.03%

Valuation

Price-to-Earnings Ratio (TTM)

ESS

21.54

Residential REITs Industry

Max: 76.72
Q3: 44.45
Median: 28.89
Q1: 22.94
Min: 9.90

The P/E Ratio is often not the primary metric for valuation in the Residential REITs industry.

SPG

28.96

Retail REITs Industry

Max: 42.04
Q3: 28.02
Median: 21.98
Q1: 15.79
Min: 6.89

The P/E Ratio is often not the primary metric for valuation in the Retail REITs industry.

ESS vs. SPG: A comparison of their Price-to-Earnings Ratio (TTM) against their respective Residential REITs and Retail REITs industry benchmarks.

Price-to-Sales Ratio (TTM)

ESS

9.37

Residential REITs Industry

Max: 13.08
Q3: 9.23
Median: 7.38
Q1: 6.12
Min: 5.65

ESS’s P/S Ratio of 9.37 is in the upper echelon for the Residential REITs industry. This means the company is valued richly on its revenue stream compared to its peers, suggesting the stock is priced for a high level of future performance.

SPG

10.15

Retail REITs Industry

Max: 13.05
Q3: 9.54
Median: 6.95
Q1: 5.59
Min: 3.06

SPG’s P/S Ratio of 10.15 is in the upper echelon for the Retail REITs industry. This means the company is valued richly on its revenue stream compared to its peers, suggesting the stock is priced for a high level of future performance.

ESS vs. SPG: A comparison of their Price-to-Sales Ratio (TTM) against their respective Residential REITs and Retail REITs industry benchmarks.

Price-to-Book Ratio (MRQ)

ESS

3.24

Residential REITs Industry

Max: 4.07
Q3: 2.62
Median: 2.08
Q1: 1.46
Min: 0.68

ESS’s P/B Ratio of 3.24 is in the upper tier for the Residential REITs industry. This indicates that investors are paying a premium relative to the company’s net assets, a valuation that hinges on its ability to generate superior profits.

SPG

21.41

Retail REITs Industry

Max: 2.70
Q3: 1.64
Median: 1.05
Q1: 0.91
Min: 0.58

At 21.41, SPG’s P/B Ratio is at an extreme premium to the Retail REITs industry. This signifies that the market’s valuation is heavily reliant on future potential rather than its current net asset value, which can be a high-risk proposition.

ESS vs. SPG: A comparison of their Price-to-Book Ratio (MRQ) against their respective Residential REITs and Retail REITs industry benchmarks.

Valuation at a Glance

Symbol	ESS	SPG
Price-to-Earnings Ratio (TTM)	21.54	28.96
Price-to-Sales Ratio (TTM)	9.37	10.15
Price-to-Book Ratio (MRQ)	3.24	21.41
Price-to-Free Cash Flow Ratio (TTM)	74.77	19.50