NEW YORK ( TheStreet) -- Tanger Factory Outlet Centers (NYSE: SKT) hit a new 52-week high Friday as it is currently trading at $31.48, above its previous 52-week high of $31.46 with 181,723 shares traded as of 11:10 a.m. ET. Average volume has been 891,800 shares over the past 30 days.

Tanger Factory Outlet Centers has a market cap of $2.88 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 Thursday.

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 62.9, above the average real estate industry P/E ratio of 60.5 and above the S&P 500 P/E ratio of 17.7.

TheStreet Ratings rates Tanger Factory Outlet Centers as a hold. The company's strengths can be seen in multiple areas, such as its robust revenue growth and solid stock price performance. However, as a counter to these strengths, we also find weaknesses including unimpressive growth in net income, generally poor debt management and poor profit margins. You can view the full Tanger Factory Outlet Centers Ratings Report.

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