Simon Property Group Inc.: The Winning Streak Continues

Simon Property Group Inc. SPG traded at a new 12-month high today of $171.12. This new high was reached on below-average trading volume as 464,000 shares traded hands, while the average 30-day volume is approximately 2 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.

In the past 12 months, shares of Simon Property Group Inc. have traded between a low of $75.49 and a high of $171.12 and are now at $167.79, which is 122% above that low price.

Simon Property Group Inc. is currently priced 41.8% above its average consensus analyst price target of $97.65.

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