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NEW YORK ( TheStreet) -- Macerich Company (NYSE: MAC) hit a new 52-week high Friday as it is currently trading at $59.49, above its previous 52-week high of $59.32 with 330,293 shares traded as of 3:05 p.m. ET. Average volume has been 864,200 shares over the past 30 days. Macerich has a market cap of $7.57 billion and is part of the financial sector and real estate industry. Shares are up 15.8% year to date as of the close of trading on Thursday. The Macerich Company operates as a real estate investment trust (REIT) in the United States. The company has a P/E ratio of 40.2, below the average real estate industry P/E ratio of 48.6 and above the S&P 500 P/E ratio of 17.7.