NEW YORK (

TheStreet

) --

Essex Property

(NYSE:

ESS

) hit a new 52-week high Tuesday as it is currently trading at $137.88, above its previous 52-week high of $137.40 with 257,480 shares traded as of 3:52 p.m. ET. Average volume has been 292,100 shares over the past 30 days.

Essex Property has a market cap of $4.4 billion and is part of the

financial

sector and

real estate

industry. Shares are up 18.2% year to date as of the close of trading on Friday.

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Essex Property Trust, Inc., a real estate investment trust (REIT), engages in the ownership, operation, management, acquisition, development, and redevelopment of apartment communities primarily in the West Coast of the United States. The company has a P/E ratio of 140.6, below the average real estate industry P/E ratio of 142.1 and above the S&P 500 P/E ratio of 17.7.

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TheStreet Ratings rates Essex Property as a

hold

. The company's strengths can be seen in multiple areas, such as its revenue growth, good cash flow from operations and solid stock price performance. However, as a counter to these strengths, we also find weaknesses including feeble growth in the company's earnings per share, deteriorating net income and generally poor debt management. You can view the full

Essex Property Ratings Report

.

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