Large Outflow of Money Witnessed in Simon Property Group

Simon Property Group (SPG) : The total money flow in Simon Property Group (SPG) was negative ($44.53 million), which signals selling by the traders on Fridays session. They trimmed their holdings by selling the stock on downticks to the tune of $81.17 million. In comparison, the inflow of money into the stock on upticks was $36.65 million. The uptick to downtick ratio was 0.45. Similarly, the block trades show selling by large traders on strength. The value of stocks sold down on downtick was $42.8 million. The negative money flow of ($42.8 million) confirms the selling in Simon Property Group (SPG) on strength. Simon Property Group (SPG) gained $1.1 at $225.3, a gain of 0.49% over the previous days close. However, the stock registered 1.06% in the week.


Simon Property Group (SPG) : The highest level Simon Property Group (SPG) is projected to reach is $270 for the short term and the lowest estimate is at $160. The consolidated price target from 13 rating analysts who initiate coverage on the stock is $226.23 and the possibility the share price can swing is $26.37.

Simon Property Group (NYSE:SPG): stock turned positive on Friday. Though the stock opened at $223.89, the bulls momentum made the stock top out at $226.13 level for the day. The stock recorded a low of $223.535 and closed the trading day at $225.3, in the green by 0.49%. The total traded volume for the day was 967,340. The stock had closed at $224.2 in the previous days trading.

In a related news, Hubbard Allan B, director of Simon Property Group Inc /De/ had purchased 136 shares on April 28, 2016 in a transaction. The price per share was $204.92 and the total amount of the disclosed transaction was $27,869.The Insider information was disclosed with the Securities and Exchange Commission in a Form 4 filing. This information is based on open market transaction at the market prices.

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.

Leave a Reply

Get Pre-Market Alerts!

Get Pre-Market Analysts' Upgrades, Downgrades, Earnings & Initiations with our FREE daily email newsletter.