NEW YORK ( TheStreet) - The following stocks hit 52-week highs on Tuesday: Tanger Factory Outlet Centers (SKT - Get Report), Churchill Downs (CHDN - Get Report) and Post Properties (PPS - Get Report).
Tanger Factory Outlet Centers
Shares of Tanger hit a 52-week high Tuesday of $31.91. The stock's 52-week low of $22.38 was set on Aug. 8.
Tanger shares trade at an estimated price-to-earnings ratio for next year of 49.1 times; the average for retail real estate investment trusts is 57.7X. For comparison, Simon Property Group (SPG) has a lower forward P/E of 43.7X.Analyst comment: "We rate SKT Neutral," JPMorgan analysts wrote in an April 27 report. "From a fundamental standpoint, we are constructive on the story and expect above-average comp NOI