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3 Real Estate Stocks Dragging The Industry Down

Editor's Note: Any reference to TheStreet Ratings and its underlying recommendation does not reflect the opinion of TheStreet, Inc. or any of its contributors including Jim Cramer or Stephanie Link.

Two out of the three major indices are trading up today with the Dow Jones Industrial Average (^DJI) trading up 8 points (0.0%) at 16,964 as of Wednesday, July 2, 2014, 12:55 PM ET. The NYSE advances/declines ratio sits at 1,180 issues advancing vs. 1,847 declining with 143 unchanged.

The Real Estate industry currently sits down 0.1% versus the S&P 500, which is unchanged. On the negative front, top decliners within the industry include St Joe (JOE), down 6.9%, Dupont Fabros Technology (DFT), down 3.8%, Omega Healthcare Investors (OHI), down 1.9%, Annaly Capital Management (NLY), down 1.4% and Health Care REIT (HCN), down 1.3%. Top gainers within the industry include E-House China Holdings (EJ), up 6.5%, Weyerhaeuser (WY), up 1.3%, Nationstar Mortgage Holdings (NSM), up 0.9%, Icahn (IEP), up 0.7% and Ocwen Financial (OCN), up 0.7%.

TheStreet would like to highlight 3 stocks pushing the industry lower today:

3. Essex Property (ESS) is one of the companies pushing the Real Estate industry lower today. As of noon trading, Essex Property is down $1.18 (-0.6%) to $184.52 on average volume. Thus far, 211,910 shares of Essex Property exchanged hands as compared to its average daily volume of 432,200 shares. The stock has ranged in price between $183.78-$185.33 after having opened the day at $185.33 as compared to the previous trading day's close of $185.70.

Essex Property Trust, Inc. operates as a self-administered and self-managed real estate investment trust in the United States. It engages in the ownership, operation, management, acquisition, development, and redevelopment of apartment communities, as well as commercial properties. Essex Property has a market cap of $11.6 billion and is part of the financial sector. Shares are up 29.4% year-to-date as of the close of trading on Tuesday. Currently there are 8 analysts that rate Essex Property a buy, no analysts rate it a sell, and 7 rate it a hold.

TheStreet Ratings rates Essex Property as a buy. The company's strengths can be seen in multiple areas, such as its revenue growth, expanding profit margins and increase in stock price during the past year. We feel these strengths outweigh the fact that the company has had sub par growth in net income. Get the full Essex Property Ratings Report now.

STOCKS TO BUY: TheStreet Quant Ratings has identified a handful of stocks that can potentially TRIPLE in the next 12 months. Learn more.

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