NEW YORK ( TheStreet) -- Tanger Factory Outlet Centers (NYSE: SKT) hit a new 52-week high Tuesday as it is currently trading at $30.28, above its previous 52-week high of $30.27 with 286,496 shares traded as of 1:24 p.m. ET. Average volume has been 997,300 shares over the past 30 days.

Tanger Factory Outlet Centers has a market cap of $2.69 billion and is part of the financial sector and real estate industry. Shares are up 2.3% year to date as of the close of trading on Monday.

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 56.7, above the average real estate industry P/E ratio of 56.3 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, solid stock price performance, impressive record of earnings per share growth, good cash flow from operations and notable return on equity. 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.

See all 52-week high stocks or get investment ideas from our investment research center.