Why Essex Property Trust (ESS) is a Top Growth Stock for the Long-Term
For new and old investors, taking full advantage of the stock market and investing with confidence are common goals.
Many investors also have a go-to methodology that helps guide their buy and sell decisions. One way to find winning stocks based on your preferred way of investing is to use the Zacks Style Scores, which are indicators that rate stocks based on three widely-followed investing types: value, growth, and momentum.
Why This 1 Growth Stock Should Be On Your Watchlist
Different than value or momentum investors, growth-oriented investors are concerned with a stock's future prospects, and the overall financial health and strength of a company. Thus, they'll want to focus on the Growth Style Score, which analyzes characteristics like projected and historical earnings, sales, and cash flow to find stocks that will see sustainable growth over time.
Essex Property Trust (ESS)
Headquartered in San Mateo, CA, Essex Property Trust, Inc. is a real estate investment trust (REIT) engaged in the acquisition, development, redevelopment and management of multifamily residential properties in supply constrained markets. The company is a S&P 500 index member.
ESS is a Zacks Rank #3 (Hold) stock, with a Growth Style Score of B and VGM Score of B. Earnings are expected to grow 2.3% year-over-year for the current fiscal year, with sales growth of 3.6%.
Four analysts revised their earnings estimate higher in the last 60 days for fiscal 2023, while the Zacks Consensus Estimate has increased $0.02 to $14.85 per share. ESS also boasts an average earnings surprise of 1.4%.
Essex Property Trust is also cash rich. The company has generated cash flow growth of 1.6%, and is expected to report cash flow expansion of 3.9% in 2023.
With solid fundamentals, a good Zacks Rank, and top-tier Growth and VGM Style Scores, ESS should be on investors' short lists.
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Essex Property Trust, Inc. (ESS) : Free Stock Analysis Report
