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NEW YORK ( TheStreet) -- Tanger Factory Outlet Centers (NYSE: SKT) hit a new 52-week high Tuesday as it is currently trading at $31.84, above its previous 52-week high of $31.83 with 205,730 shares traded as of 10:29 a.m. ET. Average volume has been 856,000 shares over the past 30 days. Tanger Factory Outlet Centers has a market cap of $2.86 billion and is part of the financial sector and real estate industry. Shares are up 8.1% 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 62.4, below the average real estate industry P/E ratio of 63.6 and above the S&P 500 P/E ratio of 17.7.