Simon Property Group Inc. (SPG) was one of the best performers amongst all companies listed in the financial sector on the NYSE and NASDAQ exchanges during trading on September 12, climbing 1.52% to wrap the day at $159.04 after closing the day prior at $156.66. Throughout the trading session, shares of SPG rose as high as $159.99 and dipped as low as $155.85. Today’s advance came with about 1.47 million shares changing hands, compared to an average 30-day volume of 1.62 million for Simon Property Group Inc.. The price is currently below the 30-day volume weighted average price of $158.79 for SPG.
The share appreciation today gives the company a market capitalization of $48.7 billion based upon 310.84 million shares outstanding. It also means that SPG has a price-to-book ratio of 13.22:1.
In the past 52 weeks, shares of SPG have traded as low as $150.15 and as high as $219.41. Technical traders will take note that at $159.04, shares of SPG are trading below their 200-day MA at $166.85 and above their 50-day MA at $158.27. Technical analysts pay close attention to these key moving averages because they often serve as technical support and resistance levels and because a move through or holding above them is typically regarded as bullish.
Who is SPG?
Simon Property Group Inc is real estate investment trust. It owns, develops and manages retail real estate properties including malls, outlets and community and lifestyle centers. The company’s 5000 employees are led by CEO David Simon from the corporate headquarters at 225 West Washington Street in Indianapolis, IN.
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