Essex Property: Shares Have Further Upside Given Limited Housing Supply (Upgrade)

Group 1 - Essex Property Trust, Inc. (NYSE: ESS) has seen a 29% increase in share price over the past year [1] - The limited supply in California markets has led to higher rental inflation compared to other regions in the nation [1] Group 2 - The company has a strong track record of performance, attributed to macroeconomic views and stock-specific turnaround stories [1]