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

NEW YORK ( TheStreet) -- The ex-dividend date for Essex Property (NYSE: ESS) is tomorrow, June 27, 2012. Owners of shares as of market close today will be eligible for a dividend of $1.10 per share. At a price of $150.10 as of 9:30 a.m. ET, the dividend yield is 2.9%.

The average volume for Essex Property has been 281,200 shares per day over the past 30 days. Essex Property has a market cap of $5.25 billion and is part of the financial sector and real estate industry. Shares are up 6.2% year to date as of the close of trading on Monday.

Essex Property Trust, Inc. is an independent real estate investment trust. The firm invests in the real estate markets of the United States. It primarily engages in acquiring, developing, redeveloping, and managing multifamily apartment communities. The company has a P/E ratio of 128.6, above the average real estate industry P/E ratio of 91 and above the S&P 500 P/E ratio of 17.7.

TheStreet Ratings rates Essex Property as a buy. The company's strengths can be seen in multiple areas, such as its compelling growth in net income, revenue growth, good cash flow from operations, solid stock price performance and impressive record of earnings per share growth. We feel these strengths outweigh the fact that the company is trading at a premium valuation based on our review of its current price compared to such things as earnings and book value. You can view the full Essex Property Ratings Report.

See our dividend calendar or top-yielding stocks list.
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