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NEW YORK ( TheStreet) -- Simon Property Group Inc (NYSE: SPG) hit a new 52-week high Wednesday as it is currently trading at $123.52, above its previous 52-week high of $123.48 with one million shares traded as of 2:10 p.m. ET. Average volume has been 2.7 million shares over the past 30 days. Simon Property Group has a market cap of $36.1 billion and is part of the financial sector and real estate industry. Shares are up 21.7% year to date as of the close of trading on Tuesday. 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 43.1, equal to the average real estate industry P/E ratio and above the S&P 500 P/E ratio of 17.7.