ESS - Essex Property Trust: A Dividend Aristocrat Worth Buying Now
2024-04-05 07:00:00 ET
Summary
- In February, Essex Property Trust hiked its dividend for the 30th consecutive year.
- The company is a best-in-class West Coast apartment REIT.
- ESS enjoys a BBB+ credit rating from S&P on a stable outlook.
- Shares could be priced at a 25% discount to fair value.
As part of my investing strategy, I prefer covering and/or owning companies with proven track records of growth, investment-grade balance sheets, and positive future growth outlooks.
That is because the former two can enable a company to deliver durable and exceptional dividend growth to shareholders. If this persists for long enough, dividend payers belonging to the S&P 500 index ( SP500 ) can join the ranks of Dividend Aristocrats....
Essex Property Trust: A Dividend Aristocrat Worth Buying Now