Is ESRT or ESS more undervalued in 2026?

CirclFi compares Empire State Realty Trust, Inc. (ESRT) and Essex Property Trust, Inc. (ESS) using 13 institutional-grade valuation models. ESRT has a Quality of Company score of 6.4/10 while ESS scores 8.0/10.

Which is a better buy — ESRT or ESS?

Compare intrinsic values from 13 independent models against current market prices. CirclFi also calculates Value Trap scores. This is not financial advice — conduct your own analysis.

How do ESRT and ESS valuations compare?

ESRT at $5.73 and ESS at $272.64 are compared across Bayesian DCF, EPV, EROIC Spread, First Chicago, Markov DDM, and 8 additional models.

ESRT vs ESS Valuation Comparison 2026 — Intrinsic Value Analysis

ESRT

Real Estate Investment Trusts

Empire State Realty Trust, Inc.

Quality

6.4

out of 10

Value Trap

—

Price

$5.73

Last close

Models

13/13

Active

ESS

Real Estate Investment Trusts

Essex Property Trust, Inc.

Quality

8.0

out of 10

Value Trap

SAFE

Price

$272.64

Last close

Models

13/13

Active

Model-by-Model Comparison

Model	Type	ESRT Fair Value	ESRT Upside	ESS Fair Value	ESS Upside
Bayesian DCF	Intrinsic	$0.10	-98.3%	$85.80	-68.5%
Earnings Power Value	Intrinsic	$2.10	-62.7%	$5.95	-97.8%
EROIC Spread	Intrinsic	$•••.••	••.•%	$•••.••	••.•%
First Chicago	Scenario	$•••.••	••.•%	$•••.••	••.•%
Markov DDM	Intrinsic	$•••.••	••.•%	$•••.••	••.•%
ML-RIV	Intrinsic	$•••.••	••.•%	$•••.••	••.•%
Dynamic NAV	Asset-Based	$•••.••	••.•%	$•••.••	••.•%
PWERM	Option-Based	$•••.••	••.•%	$•••.••	••.•%
Regime Cross-Sectional	Relative	$•••.••	••.•%	$•••.••	••.•%
Sentiment SOTP	Hybrid	$•••.••	••.•%	$•••.••	••.•%
CUCE Ensemble	Ensemble	$•••.••	••.•%	$•••.••	••.•%
FTNN Topology	Relative	$•••.••	••.•%	$•••.••	••.•%
RCMH-DCF	Intrinsic	$•••.••	••.•%	$•••.••	••.•%

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ESRT vs ESS — Which Stock Is More Undervalued?

ESS scores higher with a 8.0/10 quality rating vs ESRT's 6.4/10. Both stocks are analyzed daily using SEC EDGAR filings across 13 independent models.

Comparing Empire State Realty Trust, Inc. (ESRT) and Essex Property Trust, Inc. (ESS) across 13 institutional-grade valuation models reveals how each company's intrinsic value stacks up against its market price. CirclFi's engine processes SEC EDGAR 10-K and 10-Q filings, FRED macroeconomic data, and GDELT news sentiment to generate independent fair value estimates daily.

ESRT currently trades at $5.73 with a QOC of 6.4/10, while ESS trades at $272.64 with a QOC of 8.0/10.

Both companies are analyzed with models spanning intrinsic (Bayesian DCF, EPV), scenario-based (First Chicago), regime-switching (Markov DDM, RCMH-DCF), machine learning (ML-RIV, FTNN Topology), and ensemble methods (CUCE).