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NEW YORK ( TheStreet) -- Federal Realty Investment (NYSE: FRT) hit a new 52-week high Wednesday as it is currently trading at $93.49, above its previous 52-week high of $93.24 with 54,092 shares traded as of 11 a.m. ET. Average volume has been 500,800 shares over the past 30 days. Federal Realty Investment has a market cap of $5.89 billion and is part of the financial sector and real estate industry. Shares are up 2.6% year to date as of the close of trading on Tuesday. Federal Realty Investment Trust operates as a real estate investment trust, which engages in the ownership, management, development, and redevelopment of retail and mixed-use properties. The company has a P/E ratio of 44.8, above the average real estate industry P/E ratio of 40 and above the S&P 500 P/E ratio of 17.7.