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NEW YORK ( TheStreet) -- Essex Property (NYSE: ESS) hit a new 52-week high Friday as it is currently trading at $148.50, above its previous 52-week high of $148.44 with 139,546 shares traded as of 1:59 p.m. ET. Average volume has been 306,700 shares over the past 30 days. Essex Property has a market cap of $4.84 billion and is part of the financial sector and real estate industry. Shares are up 4.7% year to date as of the close of trading on Thursday. 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 171.3, above the average real estate industry P/E ratio of 146.2 and above the S&P 500 P/E ratio of 17.7.