SAN MATEO, Calif., October 03, 2022--Essex Property Trust, Inc. (NYSE:ESS) announced today the planned retirement of Michael J. Schall, the Company’s President and CEO since 2011, effective March 31, 2023. Thereafter, Mr. Schall will continue to serve on the Company’s Board of Directors and will remain on as a part-time employee. The Board of Directors has appointed Angela L. Kleiman, the Company’s Senior Executive Vice President and Chief Operating Officer, to succeed Mr. Schall as President an
Essex Property's (ESS) recent price correction offers investors a chance to add the stock to their portfolio, given its strong growth potential on the back of recovering West Coast market fundamentals.
Essex Property (ESS) is well-poised to benefit from the favorable West Coast market fundamentals and a solid balance sheet. However, outmigration trends and interest rate hikes are concerning.