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Essex Property Trust Inc ESS Stock Quote

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Morningstar‘s Stock Analysis ESS

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Is it the right time to buy or sell?
Is it the right time to buy or sell?

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INVESTOR

5-Star Price

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Economic Moat

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Capital Allocation

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Interest Rates, Not Inflation, Drive the Relative Performance of the REIT Sector

Kevin Brown, CFA Senior Analyst

Analyst Note

| Kevin Brown, CFA |

With the United States experiencing historically high inflation growth, many investors are wondering if real estate provides a natural hedge against inflation and if the REIT sector should therefore outperform the broader equity market. Many REITs in our coverage have reported rent and revenue growth at or near historic peaks over the past several quarters, with inflation being one of the largest reasons for the high growth. Given this and some historical evidence that REITs outperformed in the 1970s and early 1980s when inflation was similarly high, some investors are questioning why REITs have not outperformed in 2022.

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Key Statistics ESS

Company Profile ESS

Business Description

Essex Property Trust owns a portfolio of 253 apartment communities with over 62,000 units and is developing three additional properties with 571 units. The company focuses on owning large, high-quality properties on the West Coast in the urban and suburban submarkets of Southern California, Northern California, and Seattle.

Contact
1100 Park Place, Suite 200
San Mateo, CA, 94403
T +1 650 655-7800
Industry REIT - Residential
Most Recent Earnings Jun 30, 2022
Fiscal Year End Dec 31, 2022
Employees 1,757