Simon Property Group (SPG) has risen sharply, recording gains of 0.07% in the past 4 weeks. However, the stock has corrected -3.23% in the past 1 week, providing a good buying opportunity on dips. Simon Property Group (SPG) : During the past 4 weeks, traders have been relatively bearish on Simon Property Group (SPG), hence the stock is down -2.36% 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 -3.64% relative to the S&P 500.
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 $220.12 and $218.47 proved to be the low of the day. Continuous buying at higher levels pushed the stock towards an intraday high of $220.99. The buying momentum continued till the end and the stock did not give up its gains. It closed at $219.71, notching a gain of 0.04% for the day. The total traded volume was 1,378,745 . The stock had closed at $219.62 on the previous day.
The stock has recorded a 20-day Moving Average of 1.59% and the 50-Day Moving Average is 3.3%. Simon Property Group Inc. is up 5.04% in the last 3-month period. Year-to-Date the stock performance stands at 14.92%.
Simon Property Group (SPG) : 13 investment research analysts covering Simon Property Group (SPG) have an average price target of $231.46 for the near short term. The highest target price given by the Brokerage Firm to the stock is $270 and the lowest target is $160 for the short term. Analysts expect the variance to be within $26.94 of the average price.
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.