ESS - Essex Property Trust: Build And Buy Apartments Like A Pro
2024-02-15 00:32:42 ET
Summary
- Multifamily housing benefits from long-term trends such as increasing home prices.
- Essex Property Trust is a multifamily REIT focused on California and Seattle.
- ESS is a Dividend Aristocrat with an investment grade balance sheet, well positioned to capitalize on tailwinds.
Over the past few years, housing affordability has been thrust into the limelight as home values continue to appreciate. While beneficial for homeowners, increasing home prices leave future generations and first-time buyers in a difficult position. The changing tide serves as a serious multidecade tailwind for multifamily investors. Renting continues to gain traction as a long-term living option. As a result, multifamily development increased coming out of the pandemic and “built for rent” communities continue to gain popularity . As new development begins to slow, established landlords in primary markets are well positioned to capitalize on population and income growth....
Essex Property Trust: Build And Buy Apartments Like A Pro