ARE vs BPYPP vs ESBA Stock Comparison

Alexandria Real Estate Equities, Brookfield Property Partners and Empire State Realty OP Prices as of Oct 26, 2026 Peers: Industry group

Head to Head

10 decided of 12

Brookfield Property Partners leads on 7 of the 12 questions below (Brookfield Property Partners 7, Empire State Realty OP 3). Which ones matter depends on what you are buying for; a cheap multiple and slow growth often come together.

QuestionAREBPYPPESBALeader
Larger companyMarket capitalisation $6.96B $14.34B $1.31B BPYPP
Cheaper on earningsLower P/E, profitable companies only -4.8x -56.2x 259.5x –
Cheaper on forward earningsLower price / next fiscal year consensus EPS 27.8x 11.2x — BPYPP
Faster revenue growthRevenue growth, trailing twelve months -9.9% -9.5% +2.0% ESBA
More profitableNet margin, trailing twelve months -52.0% -3.6% 0.6% ESBA
Better return on capitalReturn on invested capital — 0.0% -1.1% BPYPP
Less leveragedLower net debt / EBITDA — 6.9x 5.0x ESBA
Higher dividend yieldTrailing dividend yield 0.09% 0.00% 0.00% –
Better 1-year returnPrice return, last 12 months -44.0% +0.3% -39.1% BPYPP
Better 5-year returnAnnualised price return, 5 years -26.8%/yr -10.2%/yr -14.3%/yr BPYPP
Less volatileAnnualised volatility, 1 year 50.0% 21.1% 51.8% BPYPP
Higher overall scoreMean of the five percentile scores vs peers 39/100 52/100 33/100 BPYPP

Percentile Scorecard

AREBPYPPESBA

Each axis is the mean percentile of its metrics against the company's industry group. 100 is the best in the group, 50 the middle.

Scores by Axis

AxisAREBPYPPESBA
Valuation 73 #40 of 145 92 #13 of 145 69 #45 of 145
Growth 7 #132 of 142 67 #48 of 142 2 #139 of 142
Profitability 14 #117 of 136 18 #112 of 136 26 #101 of 136
Financial Health 74 #37 of 139 51 #69 of 139 60 #56 of 139
Shareholder Returns 29 #94 of 131 33 #88 of 131 9 #120 of 131
Overall 39 52 33
  • ARE ranked among 149 companies in Property REITs
  • BPYPP ranked among 149 companies in Property REITs
  • ESBA ranked among 149 companies in Property REITs

Price Performance

Price return, split-adjusted, before dividends. Click a name to hide or show it.

Returns

PeriodAREBPYPPESBASPY
1 month -13.1%-0.3%+20.8% -0.8%
3 months -15.6%-6.6%-13.1% +3.5%
6 months -4.8%-6.8%-13.7% +7.0%
Year to date -11.4%+2.9%-23.3% +12.2%
1 year -44.0%+0.3%-39.1% +13.0%
3 years -52.7%+30.6%-38.8% +86.3%
3 years, per year -22.1%+9.3%-15.1% +23.1%
5 years -78.9%-41.5%-53.8% +68.6%
5 years, per year -26.8%-10.2%-14.3% +11.0%
10 years -59.1%—-75.4% +258.0%
10 years, per year -8.6%—-13.1% +13.6%

Risk

MeasureAREBPYPPESBASPY
Volatility, 1Y 50.0%21.1%51.8% 12.7%
Downside volatility, 1Y 56.4%19.9%61.1% 12.7%
Beta vs S&P 500, 1Y 0.750.400.42 1.00
Return / volatility, 1Y -0.880.01-0.75 1.02
Max drawdown, 5Y -81.9%-56.4%-66.4% -25.4%
From 52-week high -44.3%-10.1%-37.7% -1.8%
52-week high $77.87$16.70$7.75 $779.14
52-week low $40.41$14.38$3.85 $631.97

Valuation History

Weekly multiples on trailing twelve-month fundamentals. Negative or extreme readings (a loss year, a collapsed denominator) are left out so the chart stays readable.

MultipleAREBPYPPESBA
P/E now vs peer median -5.2xmedian 27.4x -56.5xmedian 27.4x 256.9xmedian 27.4x
P/S now vs peer median 2.7xmedian 4.2x 2.0xmedian 4.2x 1.7xmedian 4.2x
EV/EBITDA now vs peer median —median 14.2x 10.6xmedian 14.2x 12.5xmedian 14.2x
P/FCF now vs peer median -16.0xmedian 23.2x —median 23.2x -3.0xmedian 23.2x
P/B now vs peer median 0.4xmedian 1.3x 0.3xmedian 1.3x 0.7xmedian 1.3x
PEG now vs peer median 0.05median 2.11 -1.36median 2.11 -4.30median 2.11

Financial History

Reported figures by fiscal period, placed on the calendar year (or quarter) each period ended in, so companies with different fiscal years line up.

Trailing twelve monthsAREBPYPPESBA
Revenue $2.76B $7.17B $784.18M
Operating income – – -$34.52M
Net income -$1.39B -$113.00M $9.26M
Free cash flow -$473.23M – -$437.31M
EPS (diluted) $-8.40 $-0.27 $0.02
Cash & equivalents $508.86M $1.49B $85.61M
Total debt $12.90B $28.73B $4.54B
Shares (diluted) 170.75M 960.29M 268.95M
Enterprise value -$633.23M $7.01B $871.27M

All Metrics

58 metrics · best in bold

Bold marks the best reading: the lowest positive value for multiples, leverage and payout, the highest for everything else. The bar under each value is its percentile against that company's own peers. Hover a value for its rank and the peer median.

Valuation

12 metrics
MetricAREBPYPPESBA
P/E -5.2x -56.5x 256.9x
P/FCF -16.0x – -3.0x
P/Operating cash flow 6.4x – 5.7x
P/S 2.7x 2.0x 1.7x
P/B 0.4x 0.3x 0.7x
P/Tangible book 0.4x 0.3x 0.7x
EV/EBITDA – 10.6x 12.5x
EV/EBIT – 11.5x -62.8x
EV/Revenue 6.6x 5.8x 2.8x
EV/FCF -38.7x – -5.0x
EV/Operating cash flow 15.4x – 9.5x
PEG (3Y EPS CAGR) 0.05 -1.36 -4.30

Growth

14 metrics
MetricAREBPYPPESBA
Revenue growth (1Y) -9.9% -9.5% 2.0%
Revenue CAGR (3Y) -0.5% -4.1% 2.9%
Gross profit growth (1Y) – – –
Gross profit CAGR (3Y) – – –
Operating income growth (1Y) – – -123.1%
Operating income CAGR (3Y) – – -31.0%
Net income growth (1Y) -339.2% 83.2% -86.5%
Net income CAGR (3Y) -74.6% 62.1% -51.3%
EPS growth (1Y) -239.7% 63.1% -92.1%
EPS CAGR (3Y) -100.7% 41.4% -59.8%
Operating cash flow growth (1Y) -13.7% – -13.3%
Operating cash flow CAGR (3Y) -9.5% – -0.8%
Free cash flow growth (1Y) 33.5% – -169.4%
Free cash flow CAGR (3Y) 43.5% – -149.9%

Profitability

14 metrics
MetricAREBPYPPESBA
Gross margin – – –
EBITDA margin – 55.0% 22.1%
Operating margin – – -4.4%
Pretax margin – 2.7% 1.3%
Net margin -52.0% -3.6% 0.6%
FCF margin -17.1% – -55.8%
Operating cash flow margin 43.0% – 29.0%
Return on equity -6.6% -0.3% 0.5%
Return on assets -3.6% -0.1% 0.2%
Return on invested capital – 0.0% -1.1%
Return on capital employed – 4.1% –
Asset turnover 0.1x 0.1x 0.2x
Cash conversion (OCF / net income) -0.9x – 24.6x
Stock comp / revenue 1.5% – 3.9%

Financial Health

11 metrics
MetricAREBPYPPESBA
Debt / assets 37.9% 28.1% 22.4%
Debt / equity 0.7x 0.7x 0.5x
Net debt / EBITDA – 6.9x 5.0x
Debt / FCF -27.3x – -2.2x
Liabilities / assets 45.9% 58.3% 58.1%
Equity / assets 54.1% 41.7% 41.9%
Interest coverage – 1.1x -0.3x
Current ratio – 0.3x –
Quick ratio – 0.3x –
Cash ratio – 0.1x –
Altman Z-score – – –

Shareholder Returns

7 metrics
MetricAREBPYPPESBA
Dividend yield 6.6% 10.9% 3.3%
Net buyback yield – -10.2% –
Shareholder yield 6.6% 0.7% 3.3%
Payout ratio (earnings) -43.0% – –
Payout ratio (FCF) -126.5% – –
Dividend growth (1Y) -34.4% – –
Dividend CAGR (3Y) -10.2% – –

Analyst Estimates

Solid lines are reported fiscal-year results; dashed lines are the consensus for the years ahead. Hover a year for the analysts' high and low, and how each result compared with its estimate.

ConsensusAREBPYPPESBA
Forward P/E 27.8xFY2026 11.2xFY2023 –
EPS, next fiscal year $1.56FY2026 $1.34FY2023 –
EPS growth, the year after -150.6% – –
Revenue, next fiscal year $2.71BFY2026 $7.07BFY2023 –
Revenue growth, next FY -8.2%FY2026 – –
Revenue growth, the year after -13.7% – –

Institutional Ownership

13F filings, quarter ended Jun 30, 2026
HoldersAREBPYPPESBA
Held by institutions 97.2% – –
Institutions holding 595 – –
Change in shares held, QoQ +14.1% – –
Institutions buying 336 – –
Institutions selling 191 – –
Buyers to sellers 1.76 – –

Return Correlation

Daily returns, last 12 months

1.00 means two stocks move in lockstep, 0 that they move independently. Pairs below about 0.5 diversify each other.

AREBPYPPESBA
ARE 1.00 0.11 0.15
BPYPP 0.11 1.00 0.05
ESBA 0.15 0.05 1.00

Add a Peer

Largest companies in the same industry

Related Comparisons

Frequently Asked Questions

Which is bigger, ARE, BPYPP and ESBA?

Brookfield Property Partners (BPYPP) is the largest by market capitalisation: Alexandria Real Estate Equities (ARE) $6.96B, Brookfield Property Partners (BPYPP) $14.34B, Empire State Realty OP (ESBA) $1.31B.

Which company is growing faster?

Empire State Realty OP (ESBA) grew revenue fastest over the trailing twelve months: Alexandria Real Estate Equities (ARE) -9.9%, Brookfield Property Partners (BPYPP) -9.5%, Empire State Realty OP (ESBA) +2.0%.

Which company is more profitable?

Empire State Realty OP (ESBA) has the highest net margin (Alexandria Real Estate Equities (ARE) -52.0%, Brookfield Property Partners (BPYPP) -3.6%, Empire State Realty OP (ESBA) 0.6%). On return on invested capital, Brookfield Property Partners (BPYPP) leads (Brookfield Property Partners (BPYPP) 0.0%, Empire State Realty OP (ESBA) -1.1%).

Which stock has performed better?

Over the past year Brookfield Property Partners (BPYPP) returned the most: Alexandria Real Estate Equities (ARE) -44.0%, Brookfield Property Partners (BPYPP) +0.3%, Empire State Realty OP (ESBA) -39.1%. Over five years, Brookfield Property Partners (BPYPP) compounded fastest (Alexandria Real Estate Equities (ARE) -26.8%/yr, Brookfield Property Partners (BPYPP) -10.2%/yr, Empire State Realty OP (ESBA) -14.3%/yr). Returns are price only, before dividends.

Which pays a higher dividend?

Only one of these companies pays a dividend: Alexandria Real Estate Equities (ARE) 0.09%, Brookfield Property Partners (BPYPP) 0.00%, Empire State Realty OP (ESBA) 0.00%. Brookfield Property Partners (BPYPP) and Empire State Realty OP (ESBA) pays no regular dividend.

Which stock is riskier?

By one-year price volatility, Brookfield Property Partners (BPYPP) has been the steadiest (Alexandria Real Estate Equities (ARE) 50.0%, Brookfield Property Partners (BPYPP) 21.1%, Empire State Realty OP (ESBA) 51.8%). Volatility measures how widely the price swings, not the risk of the business.

Which is the better stock, ARE, BPYPP and ESBA?

There is no single answer; it depends on what you are buying for. On the 12 head-to-head measures on this page, Brookfield Property Partners (BPYPP) leads on 7. Business Quant does not give investment advice; use the comparison as a starting point for your own research.

Data from SEC filings, exchange prices and consensus estimates, via Business Quant. Percentile scores compare each company with its own peer group, so two companies' scores are each relative to different peers unless you rank against the whole market. Price returns exclude dividends. Nothing on this page is investment advice.