Simon Property Group (SPG) : Traders are bullish on Simon Property Group (SPG) as it has outperformed the S&P 500 by a margin of 2.2% in the past 4 weeks. The bullishness in the stock continues even in the near-term as the stock has returned an impressive 0.44%, relative to the S&P 500. The stock has continued its bullish performance both in the near-term and the medium-term, as the stock is up 1.06% in the last 1 week, and is up 9.1% in the past 4 weeks. Buying continues as the stock moves higher, suggesting a strong appetite for the stock.
Simon Property Group (NYSE:SPG): During Fridays trading session, Bulls were in full control of the stock right from the opening. The stock opened at $223.89 and $223.54 proved to be the low of the day. Continuous buying at higher levels pushed the stock towards an intraday high of $226.13. The buying momentum continued till the end and the stock did not give up its gains. It closed at $225.30, notching a gain of 0.49% for the day. The total traded volume was 967,340 . The stock had closed at $224.20 on the previous day.
The stock has recorded a 20-day Moving Average of 3.26% and the 50-Day Moving Average is 8.68%. Simon Property Group Inc. is up 12.34% in the last 3-month period. Year-to-Date the stock performance stands at 17.84%.
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.