Is ESS or TRNO cheaper?

On trailing earnings, TRNO is cheaper: ESS trades at a 31.88 P/E and TRNO at 16.49.

Which has grown faster, ESS or TRNO?

Over the past five years, TRNO grew revenue faster — ESS at a 5.52% CAGR versus TRNO at 20.57%.

Does ESS or TRNO pay a bigger dividend?

ESS yields 3.63% and TRNO yields 3.05% based on trailing dividends and the latest price.

Is ESS or TRNO more profitable?

TRNO runs the higher net margin — ESS at 30.17% versus TRNO at 86.52%.

Which has been the better investment, ESS or TRNO?

Over the past 10-year, TRNO delivered the higher annualized total return — ESS at 6.54% versus TRNO at 13.47%. Past performance doesn't predict future results.

Essex Property Trust, Inc. (ESS) vs Terreno Realty Corporation (TRNO)

TRNO leads on 11 of 17 compared metrics.

A side-by-side comparison of Essex Property Trust, Inc. and Terreno Realty Corporation across valuation, profitability, dividends, and growth — built entirely from reported fundamentals, as of June 13, 2026. The ● marks the stronger figure on each row (cheaper multiple, higher margin/return).

ESS

Essex Property Trust, Inc.

$18.23B

$283.75Real Estate

TRNO

Terreno Realty Corporation

$7.15B

$67.27Real Estate

Total return — ESS vs TRNO

growth of $100 · last 16y

ESS +261.8%TRNO +260.7%ESS compounded faster

ESS TRNO

ESS vs TRNO: by the numbers

•ESS is the larger company ($18.23B vs $7.15B market cap).
•TRNO trades at the lower earnings multiple (16.49 vs 31.88 P/E).
•TRNO converts more revenue to profit (86.52% vs 30.17% net margin).
•TRNO grew revenue faster over the past five years (20.57% vs 5.52% CAGR).
•ESS pays the higher dividend yield (3.63% vs 3.05%).

Which is better, ESS or TRNO?

Metric tally: ESS 6 · TRNO 11

It depends on what you're optimizing for:

ValueTRNO(lower P/E)

GrowthTRNO(faster 5Y revenue CAGR)

IncomeESS(higher dividend yield)

QualityESS(higher ROIC)

Valuation

Metric	ESS	TRNO
P/E ratio	31.88	16.49●
Forward P/E	46.85	40.04●
P/S ratio	9.59●	14.43
P/B ratio	3.37	1.65●
PEG ratio	8.66	0.14●
EV / EBITDA	17.12	13.82●
FCF yield	5.27%●	2.87%

Profitability

Metric	ESS	TRNO
Gross margin	69.44%●	63.89%
Operating margin	38.38%	40.81%●
Net margin	30.17%	86.52%●
ROE	10.59%●	9.88%
ROIC	6.13%●	3.66%

Dividends

Metric	ESS	TRNO
Dividend yield	3.63%●	3.05%
Payout ratio	98.94%	52.16%

Growth (annualized)

Metric	ESS	TRNO
Revenue CAGR (5Y)	5.52%	20.57%●
EPS CAGR (5Y)	3.68%	35.52%●
FCF CAGR (5Y)	8.49%	22.41%●
Total return CAGR (5Y)	1.54%	3.07%●

Frequently asked

Which is better, ESS or TRNO?: It depends on your goal. value: TRNO (lower P/E); growth: TRNO (faster 5Y revenue CAGR); income: ESS (higher dividend yield); quality: ESS (higher ROIC). Across all compared metrics, TRNO leads 11 to 6.
Is ESS or TRNO cheaper?: On trailing earnings, TRNO is cheaper: ESS trades at a 31.88 P/E and TRNO at 16.49.
Which has grown faster, ESS or TRNO?: Over the past five years, TRNO grew revenue faster — ESS at a 5.52% CAGR versus TRNO at 20.57%.
Does ESS or TRNO pay a bigger dividend?: ESS yields 3.63% and TRNO yields 3.05% based on trailing dividends and the latest price.
Is ESS or TRNO more profitable?: TRNO runs the higher net margin — ESS at 30.17% versus TRNO at 86.52%.
Which has been the better investment, ESS or TRNO?: Over the past 10-year, TRNO delivered the higher annualized total return — ESS at 6.54% versus TRNO at 13.47%. Past performance doesn't predict future results.

Go deeper

Full ESS analysis Full TRNO analysis Interactive comparison tool

Dig into the metrics

Essex Property Trust P/E ratio Terreno Realty P/E ratio Essex Property Trust dividend yield Terreno Realty dividend yield Essex Property Trust ROE Terreno Realty ROE Essex Property Trust operating margin Terreno Realty operating margin Essex Property Trust revenue growth Terreno Realty revenue growth Essex Property Trust free cash flow Terreno Realty free cash flow

Essex Property Trust & Terreno Realty appear in these rankings

Highest Dividend Yield Stocks Dividend Aristocrats Fastest Revenue Growth Stocks Highest Operating Margin Stocks

Figures are sourced from reported fundamentals and the latest end-of-day price. This comparison is informational only and is not investment advice. Past performance does not predict future results. See our methodology. Compiled by TGMCharts Research · data verified June 13, 2026.