Large Inflow of Money Detected in Simon Property Group

Simon Property Group (SPG) : $2.28 million worth of transactions were on upticks in Simon Property Group (SPG), compared to $1.03 million on downticks. The ratio between the two was 2.21, whereas, the net money flow stood at a healthy $1.25 million on Tuesdays session. The consistent buying on upticks in the stock accounted for $0.1million worth of trades. The total money flow into the stock stood at $0 million. The bulls and the bears were in an equilibrium as the stock closed with a loss of -0.45%. The stock was trading at $214.71, with a drop of $0.98 over the previous days close. The stock recorded 0.44% for the week.


Also, BTIG Research initiates coverage on Simon Property Group (NYSE:SPG).The analysts at the brokerage house have a current rating of Buy on the shares. In a recent information released to the investors, BTIG Research announces the price target of $266 per share. The rating by the firm was issued on August 25, 2016.

Shares of Simon Property Group Inc. appreciated by 1.85% during the last five trading days but lost 4.41% on a 4-week basis. Simon Property Group Inc. is up 9.74% in the last 3-month period. Year-to-Date the stock performance stands at 13.8%.

Simon Property Group (NYSE:SPG): During Tuesdays trading session, Bulls were in full control of the stock right from the opening. The stock opened at $216.04 and $213.16 proved to be the low of the day. Continuous buying at higher levels pushed the stock towards an intraday high of $216.20. The buying momentum continued till the end and the stock did not give up its gains. It closed at $215.90, notching a gain of 0.10% for the day. The total traded volume was 944,679 . The stock had closed at $215.69 on the previous day.

In a related news, According to the information disclosed by the Securities and Exchange Commission in a Form 4 filing, the director of Simon Property Group Inc /De/, Hubbard Allan B, had purchased 136 shares in a transaction dated on April 28, 2016. The transaction was executed at $204.92 per share with total amount equaling $27,869.

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.

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