One State Is All It Takes for This Dividend Stock to Excel
The pandemic has had a lingering impact on the way people work. That, in turn, has been a problem for landlords that have focused around key business hubs. And yet Essex Property Trust (NYSE: ESS) just increased its full-year guidance on core funds from operations for 2023. Here's why that's even more impressive than it already sounds.
Most real estate investment trusts (REITs) build diversified portfolios in some manner. One way to do that is by owning multiple types of properties in one geographic region, and another way is to own a single type of property across multiple different geographic areas.
Essex doesn't do either of these things. All of its apartment properties are on the West Coast.
Source Fool.com
