NEW YORK ( TheStreet) -- Tanger Factory Outlet Centers (NYSE: SKT) hit a new 52-week high Monday as it is currently trading at $29.06, above its previous 52-week high of $28.99 with 79,673 shares traded as of 10:40 a.m. ET. Average volume has been 995,400 shares over the past 30 days.

Tanger Factory Outlet Centers has a market cap of $2.46 billion and is part of the financial sector and real estate industry. Shares are up 12.4% year to date as of the close of trading on Friday.

Tanger Factory Outlet Centers, Inc. operates as a real estate investment trust (REIT). The company, through its subsidiary, Tanger Properties Limited Partnership, engages in acquiring, developing, owning, operating, and managing factory outlet shopping centers. The company has a P/E ratio of 56.6, below the average real estate industry P/E ratio of 59 and above the S&P 500 P/E ratio of 17.7.

TheStreet Ratings rates Tanger Factory Outlet Centers as a buy. The company's strengths can be seen in multiple areas, such as its revenue growth, notable return on equity, good cash flow from operations and solid stock price performance. We feel these strengths outweigh the fact that the company has had sub par growth in net income. You can view the full Tanger Factory Outlet Centers Ratings Report.

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