12 Best Self Storage and Apartment Stocks to Invest In

4. Essex Property Trust, Inc. (NYSE:ESS)

Number of Hedge Fund Holders: 30

Essex Property Trust, Inc. (NYSE:ESS) is a real estate investment trust (REIT) that acquires, develops, and manages multifamily apartment properties in selected West Coast markets, including Southern California, the San Francisco Bay Area, and the Seattle metropolitan area. Currently, the company has ownership interests in 256 apartment communities that contain more than 62,000 apartment homes. Essex Property Trust, Inc. (NYSE:ESS) is one of the best apartment stocks to invest in.

The company is making strategic acquisitions and dispositions to optimize its portfolio and capitalize on West Coast market opportunities. Essex Property Trust, Inc.’s (NYSE:ESS) management believes that the West Coast apartment markets are well-positioned to continue to outperform the US average with strong job growth and wealth creation, driven by centers of innovation and limited levels of housing supply.

In October 2024, Essex Property Trust, Inc. (NYSE:ESS) acquired its joint venture partner’s 49.9% interest in the BEX II portfolio, which contains 4 communities with a total of 871 apartment homes. In November, the company acquired Beaumont in Woodinville, WA, a 344-unit apartment home community for a contract price of $136.1 million. After the end of Q4 2024, Essex Property Trust, Inc. (NYSE:ESS) acquired The Plaza in Foster City, CA, a 307-unit apartment home community for $161.4 million.