NEW YORK ( TheStreet) -- Simon Property Group (NYSE: SPG) hit a new 52-week high Friday as it traded at $108.51 compared with its previous 52-Week high of $108.39. Simon Property Group is changing hands at $107.23 with 388,154 shares traded as of 10:36 a.m. ET. Average volume has been 1.7 million shares over the past 30 days. Simon Property Group has a market cap of $31.6 billion and is part of the financial sector and real estate industry. Shares are up 8.4% year to date as of the close of trading on Thursday. Simon Property Group, Inc. is a real estate investment trust. The firm engages in investment, ownership, and management of properties. It invests in the real estate markets across the globe. The company has a P/E ratio of 50.9, below the average real estate industry P/E ratio of 64.9 and above the S&P 500 P/E ratio of 23.4. TheStreet Ratings rates Simon Property Group as a buy. The company's strengths can be seen in multiple areas, such as its revenue growth, solid stock price performance, impressive record of earnings per share growth, compelling growth in net income and expanding profit margins. We feel these strengths outweigh the fact that the company has had generally poor debt management on most measures that we evaluated. You can view the full Simon Property Group Ratings Report. See all 52-week high stocks or get investment ideas from our investment research center.