Essex Property Trust is a publicly traded real estate investment trust (REIT) that specializes in the ownership, operation, and development of residential properties, primarily multifamily apartment communities
The company focuses on high-quality properties located in coastal California and the Pacific Northwest, catering to the growing demand for rental housing in these sought-after markets. Essex employs a strategic approach to property management and development, enhancing tenant experiences through various amenities and community features while actively pursuing sustainability initiatives. Through its portfolio, the company aims to deliver long-term value to its shareholders by generating stable rental income and capital appreciation from its real estate investments.
Goldman Sachs analyst initiated coverage of multifamily and single-family rental REITs with Buy ratings and price targets ranging from $46-$318, citing favorable growth environment and strong demand. UDR was the only stock rated Sell with a price target of $42.
