BDN vs ESS vs TRC Stock Comparison

Brandywine Realty Trust, Essex Property Trust and Tejon Ranch Prices as of Oct 26, 2026 Peers: Industry group
BDN Brandywine Realty Trust
$2.91 +1.4% 1M -21.4% 1Y
Market cap
$510.07M
P/E
–
Revenue (TTM)
$498.29M
Div. yield
–
Office REITs Real Estate
3 wins
TRC Tejon Ranch Co
$16.26 -1.0% 1M +0.6% 1Y
Market cap
$441.25M
P/E
73.1x
Revenue (TTM)
$56.84M
Div. yield
–
Real Estate Development Real Estate
2 wins

Head to Head

11 decided of 12

Essex Property Trust leads on 6 of the 12 questions below (Essex Property Trust 6, Brandywine Realty Trust 3, Tejon Ranch 2). Which ones matter depends on what you are buying for; a cheap multiple and slow growth often come together.

QuestionBDNESSTRCLeader
Larger companyMarket capitalisation $510.07M $17.58B $441.25M ESS
Cheaper on earningsLower P/E, profitable companies only -3.6x 42.5x 73.1x ESS
Cheaper on forward earningsLower price / next fiscal year consensus EPS — 52.9x 95.6x ESS
Faster revenue growthRevenue growth, trailing twelve months +0.5% +4.7% +25.4% TRC
More profitableNet margin, trailing twelve months -28.8% 21.5% 10.6% ESS
Better return on capitalReturn on invested capital 7.3% — 0.0% BDN
Less leveragedLower net debt / EBITDA 1.0x 5.3x 12.9x BDN
Higher dividend yieldTrailing dividend yield 0.00% 0.04% 0.00% –
Better 1-year returnPrice return, last 12 months -21.4% +4.0% +0.6% ESS
Better 5-year returnAnnualised price return, 5 years -26.1%/yr -4.2%/yr -2.4%/yr TRC
Less volatileAnnualised volatility, 1 year 35.8% 20.2% 21.4% ESS
Higher overall scoreMean of the five percentile scores vs peers 58/100 46/100 57/100 BDN

Percentile Scorecard

BDNESSTRC

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

AxisBDNESSTRC
Valuation 95 #8 of 145 13 #127 of 145 29 #28 of 39
Growth 19 #115 of 142 36 #92 of 142 69 #11 of 33
Profitability 24 #103 of 136 91 #13 of 136 52 #15 of 30
Financial Health 59 #58 of 139 51 #68 of 139 78 #9 of 38
Shareholder Returns 94 #9 of 131 39 #80 of 131 –
Overall 58 46 57
  • BDN ranked among 149 companies in Property REITs
  • ESS ranked among 149 companies in Property REITs
  • TRC ranked among 42 companies in Property Developers

Price Performance

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

Returns

PeriodBDNESSTRCSPY
1 month +1.4%+1.4%-1.0% -0.8%
3 months -5.5%-5.1%-7.7% +3.5%
6 months -3.0%+7.2%-19.3% +7.0%
Year to date -0.3%+5.2%+3.1% +12.2%
1 year -21.4%+4.0%+0.6% +13.0%
3 years -22.4%+33.3%+5.9% +86.3%
3 years, per year -8.1%+10.1%+1.9% +23.1%
5 years -77.9%-19.5%-11.4% +68.6%
5 years, per year -26.1%-4.2%-2.4% +11.0%
10 years -80.6%+32.7%-28.1% +258.0%
10 years, per year -15.1%+2.9%-3.2% +13.6%

Risk

MeasureBDNESSTRCSPY
Volatility, 1Y 35.8%20.2%21.4% 12.7%
Downside volatility, 1Y 34.1%21.9%20.8% 12.7%
Beta vs S&P 500, 1Y 0.580.120.23 1.00
Return / volatility, 1Y -0.600.200.03 1.02
Max drawdown, 5Y -83.2%-45.4%-32.4% -25.4%
From 52-week high -19.6%-7.7%-20.6% -1.8%
52-week high $3.62$298.33$20.48 $779.14
52-week low $2.47$239.61$15.58 $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.

MultipleBDNESSTRC
P/E now vs peer median -3.5xmedian 27.4x 42.8xmedian 27.4x 72.7xmedian 7.8x
P/S now vs peer median 1.0xmedian 4.2x 9.2xmedian 4.2x 7.7xmedian 4.9x
EV/EBITDA now vs peer median 2.9xmedian 14.2x 19.5xmedian 14.2x 83.2xmedian 11.2x
P/FCF now vs peer median 58.4xmedian 23.2x 30.5xmedian 23.2x -16.9xmedian 6.4x
P/B now vs peer median 0.7xmedian 1.3x 3.2xmedian 1.3x 0.9xmedian 0.6x
PEG now vs peer median 0.04median 2.11 -5.33median 2.11 -2.90median 0.33

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 monthsBDNESSTRC
Revenue $498.29M $1.93B $56.84M
Operating income $73.79M $627.10M -$515.00K
Net income -$143.21M $437.61M $6.04M
Free cash flow $8.70M $580.66M -$26.03M
EPS (diluted) $-0.82 $6.44 $0.22
Cash & equivalents $37.87M $58.33M $3.87M
Total debt $1.07B $26.96B $377.27M
Shares (diluted) 174.38M 64.28M 27.07M
Enterprise value $328.24M $17.34B $360.87M

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
MetricBDNESSTRC
P/E -3.5x 42.8x 72.7x
P/FCF 58.4x 30.5x -16.9x
P/Operating cash flow 4.2x 15.8x 35.2x
P/S 1.0x 9.2x 7.7x
P/B 0.7x 3.2x 0.9x
P/Tangible book 0.7x 3.2x 0.9x
EV/EBITDA 2.9x 19.5x 83.2x
EV/EBIT 10.3x 38.8x -1,010x
EV/Revenue 1.5x 12.6x 9.1x
EV/FCF 87.7x 41.9x -20.0x
EV/Operating cash flow 6.3x 21.8x 41.7x
PEG (3Y EPS CAGR) 0.04 -5.33 -2.90

Growth

14 metrics
MetricBDNESSTRC
Revenue growth (1Y) 0.5% 4.7% 25.4%
Revenue CAGR (3Y) -0.7% 5.2% –
Gross profit growth (1Y) – – –
Gross profit CAGR (3Y) – – –
Operating income growth (1Y) 639.1% -35.4% 94.8%
Operating income CAGR (3Y) -12.4% -2.6% -27.1%
Net income growth (1Y) 56.1% -49.8% 1,237%
Net income CAGR (3Y) -97.3% -7.9% -24.8%
EPS growth (1Y) 56.2% -48.2% 1,233%
EPS CAGR (3Y) -97.9% -8.0% -25.1%
Operating cash flow growth (1Y) -18.7% 8.3% -8.4%
Operating cash flow CAGR (3Y) -14.1% 5.4% 21.0%
Free cash flow growth (1Y) -25.6% 344.6% 55.6%
Free cash flow CAGR (3Y) -30.4% -3.3% -24.6%

Profitability

14 metrics
MetricBDNESSTRC
Gross margin – – –
EBITDA margin 53.2% 64.9% 11.0%
Operating margin 14.8% 32.5% -0.9%
Pretax margin -28.7% 18.9% 5.1%
Net margin -28.8% 21.5% 10.6%
FCF margin 1.7% 30.1% -45.8%
Operating cash flow margin 24.4% 58.0% 21.9%
Return on equity -20.0% 7.9% 1.2%
Return on assets -4.0% 3.4% 0.9%
Return on invested capital 7.3% – 0.0%
Return on capital employed – – -0.1%
Asset turnover 0.1x 0.1x 0.1x
Cash conversion (OCF / net income) -0.9x 2.6x 2.1x
Stock comp / revenue 1.9% 0.6% 2.0%

Financial Health

11 metrics
MetricBDNESSTRC
Debt / assets 8.3% 51.9% 15.0%
Debt / equity 0.4x 1.2x 0.2x
Net debt / EBITDA 1.0x 5.3x 12.9x
Debt / FCF 33.7x 11.5x -3.7x
Liabilities / assets 80.3% 57.5% 22.9%
Equity / assets 19.7% 42.5% 77.1%
Interest coverage – 2.4x –
Current ratio – – 2.9x
Quick ratio – – 1.6x
Cash ratio – – 1.4x
Altman Z-score – – 2.17

Shareholder Returns

7 metrics
MetricBDNESSTRC
Dividend yield 11.0% 3.8% –
Net buyback yield 0.4% 0.3% –
Shareholder yield 11.4% 4.1% 0.0%
Payout ratio (earnings) – 151.6% –
Payout ratio (FCF) – 114.2% –
Dividend growth (1Y) – 4.0% –
Dividend CAGR (3Y) – 4.8% –

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.

ConsensusBDNESSTRC
Forward P/E – 52.9xFY2026 95.6xFY2026
EPS, next fiscal year $-0.81FY2026 $5.21FY2026 $0.17FY2026
EPS growth, next FY – -49.9%FY2026 +1,600.0%FY2026
EPS growth, the year after – +29.6% +147.1%
Revenue, next fiscal year $512.58MFY2026 $2.05BFY2026 $57.93MFY2026
Revenue growth, next FY +12.0%FY2026 +9.2%FY2026 +16.8%FY2026
Revenue growth, the year after -15.9% -7.5% +23.5%

Institutional Ownership

13F filings, quarter ended Jun 30, 2026
HoldersBDNESSTRC
Held by institutions 73.2% 100.0% 78.6%
Institutions holding 232 630 127
Change in shares held, QoQ +2.5% +4.7% +1.3%
Institutions buying 130 348 61
Institutions selling 68 183 30
Buyers to sellers 1.91 1.90 2.03

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.

BDNESSTRC
BDN 1.00 0.39 0.33
ESS 0.39 1.00 0.27
TRC 0.33 0.27 1.00

Add a Peer

Largest companies in the same industry

Related Comparisons

Frequently Asked Questions

Which is bigger, BDN, ESS and TRC?

Essex Property Trust (ESS) is the largest by market capitalisation: Brandywine Realty Trust (BDN) $510.07M, Essex Property Trust (ESS) $17.58B, Tejon Ranch (TRC) $441.25M.

Which stock is cheaper, BDN, ESS and TRC?

Essex Property Trust (ESS) trades on the lowest price-to-earnings ratio (Brandywine Realty Trust (BDN) -3.6x, Essex Property Trust (ESS) 42.5x, Tejon Ranch (TRC) 73.1x). On next year's consensus earnings, Essex Property Trust (ESS) is cheapest (Essex Property Trust (ESS) 52.9x, Tejon Ranch (TRC) 95.6x). A lower multiple can reflect slower expected growth, so read it next to the growth figures.

Which company is growing faster?

Tejon Ranch (TRC) grew revenue fastest over the trailing twelve months: Brandywine Realty Trust (BDN) +0.5%, Essex Property Trust (ESS) +4.7%, Tejon Ranch (TRC) +25.4%.

Which company is more profitable?

Essex Property Trust (ESS) has the highest net margin (Brandywine Realty Trust (BDN) -28.8%, Essex Property Trust (ESS) 21.5%, Tejon Ranch (TRC) 10.6%). On return on invested capital, Brandywine Realty Trust (BDN) leads (Brandywine Realty Trust (BDN) 7.3%, Tejon Ranch (TRC) 0.0%).

Which stock has performed better?

Over the past year Essex Property Trust (ESS) returned the most: Brandywine Realty Trust (BDN) -21.4%, Essex Property Trust (ESS) +4.0%, Tejon Ranch (TRC) +0.6%. Over five years, Tejon Ranch (TRC) compounded fastest (Brandywine Realty Trust (BDN) -26.1%/yr, Essex Property Trust (ESS) -4.2%/yr, Tejon Ranch (TRC) -2.4%/yr). Returns are price only, before dividends.

Which pays a higher dividend?

Only one of these companies pays a dividend: Brandywine Realty Trust (BDN) 0.00%, Essex Property Trust (ESS) 0.04%, Tejon Ranch (TRC) 0.00%. Brandywine Realty Trust (BDN) and Tejon Ranch (TRC) pays no regular dividend.

Which stock is riskier?

By one-year price volatility, Essex Property Trust (ESS) has been the steadiest (Brandywine Realty Trust (BDN) 35.8%, Essex Property Trust (ESS) 20.2%, Tejon Ranch (TRC) 21.4%). Volatility measures how widely the price swings, not the risk of the business.

Which is the better stock, BDN, ESS and TRC?

There is no single answer; it depends on what you are buying for. On the 12 head-to-head measures on this page, Essex Property Trust (ESS) leads on 6. 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.