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Editor's Note: TheStreet ratings do not represent the views of TheStreet's staff or its contributors. Ratings are established by computer based on metrics for performance (which includes growth, stock performance, efficiency and valuation) and risk (volatility and solvency). Companies with poor cash flow or high debt levels tend to earn lower ratings in our model. NEW YORK ( TheStreet) -- Essex Property (NYSE: ESS) hit a new 52-week high Friday as it is currently trading at $161.57, above its previous 52-week high of $161.53 with 102,726 shares traded as of 12:46 p.m. ET. Average volume has been 268,200 shares over the past 30 days. Essex Property has a market cap of $6.03 billion and is part of the financial sector and real estate industry. Shares are up 8.5% year to date as of the close of trading on Thursday. Essex Property Trust, Inc. operates as a self-administered and self-managed real estate investment trust in the United States. It engages in the ownership, operation, management, acquisition, development, and redevelopment of apartment communities, as well as commercial properties. The company has a P/E ratio of 46.3, above the S&P 500 P/E ratio of 17.7.