Essex Property Trust (ESS): A Model of Stability in the Dividend Champions Universe
Essex Property Trust, Inc. (NYSE:ESS) is included among the Best Dividend Stocks for a Dividend Champions List.
Photo by Dan Dennis on Unsplash
Essex Property Trust, Inc. (NYSE:ESS) is a California-based REIT that has made its name by sticking to coastal markets where demand for housing rarely lets up. That focus has worked in its favor, with rent growth consistently coming in above the national average. The company also keeps its finances on the conservative side, which means it can steadily grow its apartment portfolio without putting its dividend at risk.
Essex Property Trust, Inc. (NYSE:ESS) doesn’t rely on one path for growth. It buys communities through joint ventures, makes preferred equity investments that throw off dependable income, and also funds new development projects. The combination has helped the REIT build cash flow year after year, giving it the room to keep raising its dividend on a consistent basis.
Essex Property Trust, Inc. (NYSE:ESS) has been growing its dividends consistently since it went public in 1994. Its quarterly dividend comes in at $2.57 per share for a dividend yield of 3.9%, as of October 2.
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READ NEXT: 12 Best REIT Dividend Stocks to Buy Nowand 11 Best Affordable Dividend Stocks to Buy Now.
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