NEW YORK ( TheStreet) - The following stocks hit 52-week highs on Tuesday: Tanger Factory Outlet Centers ( SKT - Get Report), Churchill Downs ( CHDN - Get Report) and Post Properties ( PPS).

Tanger Factory Outlet Centers

Shares of Tanger hit a 52-week high Tuesday of $31.91. The stock's 52-week low of $22.38 was set on Aug. 8.

Tanger shares trade at an estimated price-to-earnings ratio for next year of 49.1 times; the average for retail real estate investment trusts is 57.7X. For comparison, Simon Property Group ( SPG) has a lower forward P/E of 43.7X.

Analyst comment:

"We rate SKT Neutral," JPMorgan analysts wrote in an April 27 report. "From a fundamental standpoint, we are constructive on the story and expect above-average comp NOI net operating income growth in 2012, along with more positive development headlines to hit the tape over the near term. However, as the economy continues to recover, we believe that investors' capital will likely favor other types of retail and other property sectors that 'lost more' during the downturn. Furthermore, we believe that SKT's attractive growth prospects are currently reflected in the stock's valuation."

Eight of the 12 analysts who cover Tanger rate it at hold. Three analysts give the stock a buy rating and one rates it at sell.

The stock has risen 8.77% year to date.

Content on this page requires a newer version of Adobe Flash Player.

Get Adobe Flash player

Content on this page requires a newer version of Adobe Flash Player.

Get Adobe Flash player

Churchill Downs

The company reported first-quarter earnings on Monday of $1.35 million, or 8 cents a share, a reversal from a year-earlier loss of $3.19 million, or 19 cents a share.

Shares of Churchill Downs hit a 52-week high on Tuesday of $61.90. The stock's 52-week low of $36.67 was set on Sept. 30.

Churchill Downs' shares forward P/E is 18.3X; the average for gambling companies is 13.7X. For comparison, Bally Technologies ( BYI) has a lower forward P/E of 15X.

Analyst comment:

"CHDN remains very compelling, in our view," Brean Murray said in a mid-March report. "CHDN trades at a 2012 EV/EBITDA enterprise value/earnings before interest, taxes, depreciation and amortization of 6.8x, should generate $6.00 of FCF free cash flow per share, and has strong growth prospects including plans to open its 4th casino at a racetrack in Lebanon, Ohio through a 50% owned JV and a balance sheet levered at less than 1.0x, which should permit continuation of its very successful acquisition strategy. Additionally, the company is well positioned to benefit from legislation that allows online poker through its recent acquisition of Bluff.com and a potential expansion of gaming in Illinois that will likely be an issue again this spring."

All five of the analysts who cover Churchill Downs rate it at buy.

The stock has risen 17.77% year to date.


Post Properties

The real estate investment trust reported first-quarter earnings Monday of $20.9 million, or 39 cents a share, a reversal from a year-earlier loss of $0.4 million, or a penny a share.

Shares of Post Properties hit a 52-week high Tuesday of $49.89. The stock's 52-week low of $32.18 was set on Oct. 4.

Post Properties' shares trade at a forward P/E of 44.8X; the average for residential REITs is 48.1X. For comparison, AvalonBay ( AVB) shares trade at a higher forward P/E of 45.3X.

Ten of the 19 analysts who cover Post rate it at buy. Eight analysts give the stock a hold rating and one rates it at sell.

The stock has risen 13.2% year to date.

-- Written by Alexandra Zendrian in New York.

>To contact the writer of this article, click here: Alexandra Zendrian

>To submit a news tip, send an email to: tips@thestreet.com.

>To follow the writer on Twitter, go to Alexandra Zendrian.