Shares of Simon Property Group Inc. (NYSE:SPG) traded at a new 52-week high today of $141.50. So far today approximately 392,000 shares have been exchanged, as compared to an average 30-day volume of 1.9 million shares.
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.
Over the past year, Simon Property Group Inc. has traded in a range of $59.35 to $141.50 and is now at $140.38, 137% above that low.
Simon Property Group Inc. is currently priced 22.0% above its average consensus analyst price target of $109.49.
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