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NEW YORK ( TheStreet) -- AvalonBay Communities (NYSE: AVB) hit a new 52-week high Monday as it is currently trading at $142.16, above its previous 52-week high of $142 with 373,901 shares traded as of 12:40 p.m. ET. Average volume has been 738,700 shares over the past 30 days. AvalonBay has a market cap of $13.25 billion and is part of the financial sector and real estate industry. Shares are up 7.3% year to date as of the close of trading on Friday. AvalonBay Communities, Inc. engages in the development, redevelopment, acquisition, ownership, and operation of multifamily communities in the United States. The company has a P/E ratio of 75.9, above the average real estate industry P/E ratio of 28.5 and above the S&P 500 P/E ratio of 17.7.