Essex Property Trust

Essex Property Trust is a real estate investment trust focused on apartment communities along the US West Coast, with holdings concentrated in Southern California, the San Francisco Bay Area and Seattle. Its bet on supply-constrained, high-income coastal markets has long underpinned rents, though it also ties results closely to the fortunes of the technology economy. As a REIT, Essex distributes most of its taxable income and has raised its dividend for more than three decades without interruption. The yield sits in a moderate range, and payout growth depends on rent trends and occupancy in expensive markets. The result is a solid, dependable income profile that reflects both a long track record and cyclical regional exposure.