The buying and selling of stock by a company’s insider give investors a sense that the stock will rise or fall in the future. Simon Property Group Inc. shares valued at $15,951 were purchased by STEWART MARTA R on Jun 30. At $93.83 per share, STEWART MARTA R acquired 170 shares. The insider’s holdings grew to 9,625 shares worth approximately $1.02 million following the completion of this transaction.
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Also, SMITH J ALBERT JR purchased 721 shares, netting a total of over 67,653 in proceeds. Following the buying of shares at $93.83 each, the insider now holds 58,043 shares.
Before that, Smith Daniel C. had added 369 shares to its account. In a trade valued at $34,624, the Director bought Simon Property Group Inc. shares for $93.83 each. Upon closing the transaction, the insider’s holdings increased to 369 shares, worth approximately $2.51 million.
As published in a research note from Jefferies on June 30, 2022, Simon Property Group Inc. [SPG] has been rated down from a Buy to a Hold and the price target has been revised to $100. This represents a -5.82% premium over Thursday’s closing price. Analysts at Argus upgraded the stock from ‘”a Hold”‘ to ‘”a Buy”‘ outlook in a report released in late September. As of August 04, 2021, BofA Securities has increased its “Neutral” rating to a “Buy” for SPG. Earlier on July 20, 2021, Stifel upgraded its rating. Their new recommendation was “a Buy” for SPG stock which previously was a “a Hold”.
Analyzing SPG’s Price Performance
On Thursday, Simon Property Group Inc. [NYSE: SPG] plunged -1.04% to $105.82. The stock’s lowest price that day was $104.95, but it reached a high of $107.41 in the same session. During the last five days, there has been a drop of approximately -1.53%. Over the course of the year, Simon Property Group Inc. shares have dropped approximately -33.77%. Shares of the company reached a 52-week high of $165.83 on 01/05/22 and a 52-week low of $93.06 on 07/14/22. A 50-day SMA is recorded $102.39, while a 200-day SMA reached $132.57. Nevertheless, trading volume fell to 1.42 million shares from 2.24 million shares the previous day.
Support And Resistance Levels for Simon Property Group Inc. (SPG)
According to the 24-hour chart, there is a support level at 104.71, which, if violated, would cause prices to drop to 103.60. In the upper region, resistance lies at 107.17. The next price resistance is at 108.52. RSI (Relative Strength Index) is 56.24 on the 14-day chart, showing neutral technical sentiment. Moving Average Convergence Divergence (MACD) is at 1.36, which suggests the price will increase in the coming days. Percent R is at 37.63%, indicating low price movement. Stochastics %K at holding indicates that the stock is to be held.
Is Simon Property Group Inc. subject to short interest?
Stocks of Simon Property Group Inc. saw a sharp steep in short interest on Jul 14, 2022 dropping by -0.17 million shares to 6.94 million. Data from Yahoo Finance shows that the short interest on Jun 14, 2022 was 7.11 million shares. A decline of -2.45% in short interest reflects a negative sentiment towards the stock. Despite the fact that short shares comprise just 3.21 of the overall float, the days-to-cover ratio (short ratio) decline to 3.21.
Which companies own the most shares of Simon Property Group Inc. (SPG)?
According to The Vanguard Group, Inc. filings, the company currently owns 47,751,268 shares, which is about 14.53% of the total SPG shares outstanding. The investor’s shares have appreciated by 1,844,583 from its previous 13-F filing of 45906685.0 shares. With the completion of the buy transaction, SSgA Funds Management, Inc.’s stake is now worth $2,229,823,242. BlackRock Fund Advisors acquire a 0.21% interest valued at $2.16 billion while Cohen & Steers Capital Management purchased a 115,937 stake. A total of 253,686 shares of Simon Property Group Inc. were bought by Geode Capital Management LLC during the quarter, and -77,165 were sold by Northern Trust Investments, Inc. In its current portfolio, Dimensional Fund Advisors LP holds 4,908,990 shares valued at $465.96 million.
In terms of Simon Property Group Inc. share price expectations, FactSet research, analysts set an average price target of $123.27 in the next 12 months, up nearly 15.03% from the previous closing price of $106.93. Analysts anticipate Simon Property Group Inc. stock to reach $160.00 by 2022, with the lowest price target being $100.00. In spite of this, 17 analysts ranked Simon Property Group Inc. stock as an Overweight at the end of 2022. On June 04, 2021, UBS assigned a price target of “a Neutral” to the stock and initiated coverage with a $135.