NEW YORK ( TheStreet) -- MI Developments (NYSE: MIM) hit a new 52-week high Wednesday as it is currently trading at $32, above its previous 52-week high of $31.83 with 370,100 shares traded as of 9:51 a.m. ET. Average volume has been 201,400 shares over the past 30 days.

MI Developments has a market cap of $1.4 billion and is part of the financial sector and real estate industry. Shares are up 8.3% year to date as of the close of trading on Tuesday.

MI Developments Inc. engages in the acquisition, development, construction, ownership, leasing, and management of primarily industrial and commercial properties.
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TheStreet Ratings rates MI Developments as a hold. The company's strengths can be seen in multiple areas, such as its solid stock price performance, revenue growth and largely solid financial position with reasonable debt levels by most measures. However, as a counter to these strengths, we find that the company's return on equity has been disappointing. You can view the full MI Developments Ratings Report.

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