Mizuho Sees Continued Upside for Essex Property Trust (ESS) Amid Solid Fundamentals

Core Insights - Essex Property Trust, Inc. (NYSE:ESS) is recognized as a strong investment option among Blue Chip Dividend Stocks for passive income generation [1] - Mizuho has increased its price target for Essex Property Trust to $284 from $275, maintaining an Outperform rating based on solid fundamentals and revised REIT models following Q3 earnings [2] - The company has a history of increasing dividends, having nearly doubled its payout over the past decade, with a 4.9% increase in 2025 that outpaces inflation [3] Company Performance - Essex Property Trust focuses on high-demand West Coast markets, where rent growth is above average, contributing to its strong performance [4] - The company maintains a conservative payout ratio and a robust balance sheet, allowing for sustained dividend payments and portfolio expansion [4] - Essex has a track record of growing dividends for 31 consecutive years, highlighting its commitment to returning value to shareholders [4] Business Model - As a residential-focused REIT, Essex Property Trust develops, owns, and manages apartment communities primarily on the West Coast [5]