Essex Property Stock To Go Ex-dividend Tomorrow (ESS)

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.

TheStreet Ratings rates Essex Property as a hold. The company's strengths can be seen in multiple areas, such as its increase in net income, revenue growth and solid stock price performance. However, as a counter to these strengths, we also find weaknesses including disappointing return on equity, premium valuation and poor profit margins. You can view the full Essex Property Ratings Report.

See our dividend calendar or top-yielding stocks list.

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