The following post was written and/or published as a collaboration between Benzinga’s in-house sponsored content team and a financial partner of Benzinga.
Simon Property Group Inc. SPG traded at a new 52-week high today of $137.15. This new high was reached on below-average trading volume as 384,000 shares traded hands, while the average 30-day volume is approximately 1.9 million shares.
Simon Property Group Inc. SPG defies analysts with a current price ($136.54) 22.7% above its average consensus price target of $105.55.
Simon Property Group Inc.'s share prices have moved between a 52-week high of $137.15 and a 52-week low of $59.35 and are now trading 130% above that low price at $136.54 per share.
Simon Property Group is the second-largest real estate investment trust in the United States. Its portfolio includes an interest in 207 properties: 106 traditional malls, 69 premium outlets, 14 Mills centers (a combination of a traditional mall, outlet center, and big-box retailers), four lifestyle centers, and 14 other retail properties. Simon’s portfolio averaged $693 in sales per square foot over the past 12 months. The company also owns a 21% interest in Klepierre, a European retail company with investments in shopping centers in 16 countries, and joint venture interests in 29 premium outlets across 11 countries.
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