Essex Property Reaches New 52-Week High (ESS)

NEW YORK ( TheStreet) -- Essex Property (NYSE: ESS) hit a new 52-week high Friday as it is currently trading at $151.05, above its previous 52-week high of $150.42 with 75,737 shares traded as of 10:05 a.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 6.7% 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 145.7, 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.

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