Simon Property Group (SPG) : Simon Property Group (SPG) had a healthy money flow of $2.19 million into the stock during the Wednesdays trading session. The value of bullish trades on upticks was $20.89 million, whereas, investors only sold shares worth $18.7 million on downticks. The stock closed the day with an up-down ratio of 1.12.The money flow in the block trades to the tune of $0.1 million shows that the bulls were dominant, the large players used the weakness in the stock to accumulate it for the long-term. $0.1 million worth of transactions were on upticks. Simon Property Group (SPG) stock slid $0.07 intraday and traded at 222.96, a change of -0.03% over previous days close. However, for the week, the company shares are 0.01% compared to previous weeks close.
Also, Mizuho Securities initiates coverage on Simon Property Group (NYSE:SPG). The shares have now been rated Buy by the stock experts at the ratings house. Mizuho Securities announces the current price target of $233 per share on Simon Property Group . The rating by the firm was issued on April 13, 2016.
Simon Property Group (NYSE:SPG): During Wednesdays trading session, Bulls were in full control of the stock right from the opening. The stock opened at $223.44 and $221.81 proved to be the low of the day. Continuous buying at higher levels pushed the stock towards an intraday high of $223.49. The buying momentum continued till the end and the stock did not give up its gains. It closed at $223.24, notching a gain of 0.09% for the day. The total traded volume was 751,848 . The stock had closed at $223.03 on the previous day.
The stock has recorded a 20-day Moving Average of 3.03% and the 50-Day Moving Average is 7.93%. 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.