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NEW YORK ( TheStreet) -- Colonial Properties (NYSE: CLP) hit a new 52-week high Friday as it is currently trading at $22.16, above its previous 52-week high of $22.15 with 155,814 shares traded as of 10:35 a.m. ET. Average volume has been 735,400 shares over the past 30 days. Colonial has a market cap of $1.88 billion and is part of the financial sector and real estate industry. Shares are up 5% year to date as of the close of trading on Thursday. Colonial Properties Trust is a real estate investment trust (REIT). The firm engages in the acquisition, development, ownership, management, and leasing of commercial real estate properties. It invests in the public equity and real estate markets of the United States.