NEW YORK ( TheStreet) -- Taubman Centers (NYSE: TCO) hit a new 52-week high Wednesday as it is currently trading at $55.93, above its previous 52-week high of $55.90 with 319,582 shares traded as of 12:26 p.m. ET. Average volume has been 524,900 shares over the past 30 days.

Taubman Centers has a market cap of $3.1 billion and is part of the financial sector and real estate industry. Shares are up 9.6% year to date as of the close of trading on Tuesday.

Taubman Centers, Inc. operates as a real estate investment trust. As of June 30, 2005, the company owned a 63% managing general partner's interest in The Taubman Realty Group Limited Partnership (the operating partnership). The company has a P/E ratio of 63.6, equal to the average real estate industry P/E ratio and above the S&P 500 P/E ratio of 16.3.
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TheStreet Ratings rates Taubman Centers as a hold. The company's strengths can be seen in multiple areas, such as its largely solid financial position with reasonable debt levels by most measures, revenue growth and compelling growth in net income. However, as a counter to these strengths, we find that the growth in the company's earnings per share has not been good. You can view the full Taubman Centers Ratings Report.

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