Essex Property Trust (ESS) will raise its quarterly dividend by 6.5 percent to $2.0775 per share in the first quarter of 2020. This marks the 26th consecutive year of annual dividend increases by the residential REIT.

The next dividend is payable on April 15, 2020 to shareholders of record as of March 31, 2020. On an annualized basis, the dividend represents a distribution of $8.31 per common share, yielding 2.5% at at a stock price of $329. Year-to-date ESS stock has gained 9.4 percent

Essex Property Trust, Inc. Is a real estate investment trust (REIT) engaged primarily in the ownership, operation, management, acquisition, development and redevelopment of predominantly apartment communities, located along the West Coast of the United States. The company's most important cities in terms of revenues and property income are Santa Clara, Seattle, San Francisco, Los Angeles, Orange County, San Diego, Ventura and East Bay. Essex Property Trust, Inc. became a public company in 1994.