Is ESS or FPI more undervalued in 2026?

CirclFi compares Essex Property Trust, Inc. (ESS) and Farmland Partners Inc. (FPI) using 13 institutional-grade valuation models. ESS has a Quality of Company score of 8.0/10 while FPI scores 8.7/10.

Which is a better buy — ESS or FPI?

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 ESS and FPI valuations compare?

ESS at $272.64 and FPI at $10.27 are compared across Bayesian DCF, EPV, EROIC Spread, First Chicago, Markov DDM, and 8 additional models.

ESS vs FPI Valuation Comparison 2026 — Intrinsic Value Analysis

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

FPI

Real Estate Investment Trusts

Farmland Partners Inc.

Quality

8.7

out of 10

Value Trap

SAFE

Price

$10.27

Last close

Models

12/13

Active

Model-by-Model Comparison

Model	Type	ESS Fair Value	ESS Upside	FPI Fair Value	FPI Upside
Bayesian DCF	Intrinsic	$85.80	-68.5%	$1.01	-90.3%
Earnings Power Value	Intrinsic	$5.95	-97.8%	$0.80	-92.6%
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	$•••.••	••.•%	$•••.••	••.•%

🔒

Unlock Full 13-Model Comparison

Access all valuation models for ESS vs FPI — including EROIC Spread, First Chicago, Markov DDM, PWERM, and 7 more.

Access Full Analysis — From $27/mo →

ESS vs FPI — Which Stock Is More Undervalued?

FPI scores higher with a 8.7/10 quality rating vs ESS's 8.0/10. Both stocks are analyzed daily using SEC EDGAR filings across 13 independent models.

Comparing Essex Property Trust, Inc. (ESS) and Farmland Partners Inc. (FPI) 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.

ESS currently trades at $272.64 with a QOC of 8.0/10, while FPI trades at $10.27 with a QOC of 8.7/10.

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).