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NEW YORK ( TheStreet) -- Simon Property Group (NYSE: SPG) hit a new 52-week high Wednesday as it is currently trading at $144.55, above its previous 52-week high of $144 with 169,339 shares traded as of 9:45 a.m. ET. Average volume has been 1.6 million shares over the past 30 days. Simon Property Group has a market cap of $39.29 billion and is part of the financial sector and real estate industry. Shares are up 11.3% year to date as of the close of trading on Tuesday. Simon Property Group, Inc. is an independent equity real estate investment trust. It engages in investment, ownership, and management of properties. The firm invests in the real estate markets across the globe. The company has a P/E ratio of 41.3, below the average real estate industry P/E ratio of 44.7 and above the S&P 500 P/E ratio of 17.7.