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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.