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NEW YORK ( TheStreet) -- The ex-dividend date for Essex Property (NYSE: ESS) is tomorrow, December 29, 2011. Owners of shares as of market close today will be eligible for a dividend of $1.04 per share. At a price of $141.50 as of 12:50 p.m. ET, the dividend yield is 2.9%. The average volume for Essex Property has been 384,000 shares per day over the past 30 days. Essex Property has a market cap of $4.77 billion and is part of the financial sector and real estate industry. Shares are up 25.6% year to date as of the close of trading on Tuesday. 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 165.3, above the average real estate industry P/E ratio of 144.2 and above the S&P 500 P/E ratio of 17.7.