Essex Property Stock Hits New 52-Week High (ESS)

NEW YORK ( TheStreet) -- Essex Property (NYSE: ESS) hit a new 52-week high Monday as it is currently trading at $152.61, above its previous 52-week high of $152.21 with 5,618 shares traded as of 9:40 a.m. ET. Average volume has been 306,400 shares over the past 30 days.

Essex Property has a market cap of $5.21 billion and is part of the financial sector and real estate industry. Shares are up 7.4% year to date as of the close of trading on Friday.

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 147.8, above the average real estate industry P/E ratio of 120.7 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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