Simon Property Group (SPG) : During the past 4 weeks, traders have been relatively bearish on Simon Property Group (SPG), hence the stock is down -4.45% when compared to the S&P 500 during the same period. However, in the past 1 week, the selling of the stock is down by -2.1% relative to the S&P 500. The 4-week change in the price of the stock is -3.46% and the stock has fallen -2.04% in the past 1 week.
The stock has recorded a 20-day Moving Average of 3.27% and the 50-Day Moving Average is 0.18%. Simon Property Group (NYSE:SPG): stock turned positive on Friday. Though the stock opened at $214.85, the bulls momentum made the stock top out at $216.56 level for the day. The stock recorded a low of $214.125 and closed the trading day at $215.22, in the green by 0.31%. The total traded volume for the day was 1,196,532. The stock had closed at $214.55 in the previous days trading.
The company Insiders own 8.5% of Simon Property Group shares according to the proxy statements. Institutional Investors own 99.74% of Simon Property Group shares. During last six month period, the net percent change held by insiders has seen a change of -31.19%. Also, Argus Research maintains its rating on Simon Property Group (NYSE:SPG). The global brokerage major raises the current price target from $235 per share to $245 per share. Analysts at the Argus Research have a current rating of Buy on the shares. The rating by the firm was issued on August 11, 2016.
Simon Property Group, Inc. is a self-administered and self-managed real estate investment trust (REIT). Simon Property Group, L.P. (Operating Partnership), is the Companys majority-owned partnership subsidiary that owns all of its real estate properties and other assets. The Company owns, develops and manages retail real estate properties, which consist primarily of malls, Premium Outlets and The Mills. As of December 31, 2014, the Company owned or held an interest in 207 properties in the United States, which consisted of 109 malls, 68 Premium Outlets, 13 Mills, three community centers, and 14 other retail properties in 37 states and Puerto Rico. As of December 31, 2014, the Company had ownership interests in nine Premium Outlets in Japan, three Premium Outlets in South Korea, two Premium Outlets in Canada, one Premium Outlet in Mexico and one Premium Outlet in Malaysia. As of December 31, 2014, the Company had non-controlling ownership interests in five outlet properties in Europe.