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

NEW YORK ( TheStreet) -- The ex-dividend date for Essex Property (NYSE: ESS) is tomorrow, March 28, 2012. Owners of shares as of market close today will be eligible for a dividend of $1.10 per share. At a price of $150 as of 9:30 a.m. ET, the dividend yield is 3%.

The average volume for Essex Property has been 306,700 shares per day 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 6.5% year to date as of the close of trading on Monday.

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 144, below the average real estate industry P/E ratio of 146.2 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 compelling growth in net income, revenue growth and good cash flow from operations. 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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