Shares of Simon Property Group Inc. (NYSE:SPG) traded at a new 52-week high today of $143.33. Approximately 640,000 shares have changed hands today, as compared to an average 30-day volume of 1.9 million shares.
Over the past year, Simon Property Group Inc. has traded in a range of $59.35 to $143.33 and is now at $143.05, 141% above that low.
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.
Simon Property Group Inc. (NYSE:SPG) defies analysts with a current price ($143.05) 23.0% above its average consensus price target of $110.21.
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