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

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) -- The ex-dividend date for Essex Property (NYSE: ESS) is tomorrow, June 26, 2013. Owners of shares as of market close today will be eligible for a dividend of $1.21 per share. At a price of $153.12 as of 9:36 a.m. ET, the dividend yield is 3.2%.

The average volume for Essex Property has been 285,100 shares per day over the past 30 days. Essex Property has a market cap of $5.8 billion and is part of the financial sector and real estate industry. Shares are up 4.7% year to date as of the close of trading on Monday.

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 44.5, above the S&P 500 P/E ratio of 17.7.

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TheStreet Ratings rates Essex Property as a buy. The company's strengths can be seen in multiple areas, such as its robust revenue growth, increase in net income, good cash flow from operations, expanding profit margins and impressive record of earnings per share growth. We feel these strengths outweigh the fact that the company has had lackluster performance in the stock itself. You can view the full Essex Property Ratings Report.

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