Watch for Continued Gains in Shares of Simon Property Group Inc.

Simon Property Group Inc. SPG traded today at a new 12-month high of $170.91. This new high was reached on below-average trading volume as 556,000 shares traded hands, while the average 30-day volume is approximately 2.1 million shares.

Simon Property Group Inc. defies analysts with a current price ($168.27) 42.4% above its average consensus price target of $96.93.

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.

In the past 52 weeks, shares of Simon Property Group Inc. have traded between a low of $61.64 and a high of $170.91 and are now at $168.27, which is 173% above that low price.

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