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NEW YORK ( TheStreet) -- Essex Property (NYSE: ESS) hit a new 52-week high Tuesday as it is currently trading at $157.78, above its previous 52-week high of $157.41 with 59,230 shares traded as of 10:50 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 11.2% 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 153.8, above the average real estate industry P/E ratio of 120.7 and above the S&P 500 P/E ratio of 17.7.