When putting together your watch list, focus on stocks with an 80 or higher RS Rating. Essex Property Trust is one stock that just reached the mark, now earning a score of 81.
IBD's proprietary RS Rating measures market leadership by using a 1 (worst) to 99 (best) score that indicates how a stock's price action over the trailing 52 weeks matches up against the rest of the market.
Decades of market research shows that the stocks that go on to make the biggest gains often have an RS Rating of above 80 as they begin their biggest climbs.
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Now is not an ideal time to jump in since it isn't near a proper buy zone, but see if the stock goes on to establish and enter a buying range in heavy trade.
Essex Property Trust reported 2% earnings growth in its most recent report, while sales growth came in at 8%.
The company holds the No. 3 rank among its peers in the Finance-Property REITs industry group. CareTrust REIT is the No. 1-ranked stock within the group.
This article was created automatically with Stats Perform's Wordsmith software using data and article templates supplied by Investor's Business Daily. An IBD journalist may have edited the article.
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