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Simon Property Group, Inc. (SPG) Becoming More Attractive for Investors

In a filing, Simon Property Group, Inc. revealed its Director LEIBOWITZ REUBEN S acquired Company’s shares for reported $67535.0 on Apr 01 ’24. In the deal valued at $154.19 per share,438 shares were bought. As a result of this transaction, LEIBOWITZ REUBEN S now holds 53,116 shares worth roughly $7.85 million.

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Then, HUBBARD ALLAN B bought 357 shares, generating $55,046 in total proceeds. Upon buying the shares at $154.19, the Director now owns 32,222 shares.

Before that, GLASSCOCK LARRY C bought 321 shares. Simon Property Group, Inc. shares valued at $49,495 were divested by the Director at a price of $154.19 per share. As a result of the transaction, GLASSCOCK LARRY C now holds 38,541 shares, worth roughly $5.69 million.

Morgan Stanley downgraded its Simon Property Group, Inc. [SPG] rating to an Equal-weight from a an Overweight in a research note published on December 21, 2023; the price target was increased to $143 from $132. A number of analysts have revised their coverage, including Evercore ISI’s analysts, who decreased its forecast for the stock in early August from “an Outperform” to “an In-line”. Wolfe Research also remained covering SPG and has increased its forecast on July 06, 2023 with a “an Outperform” recommendation from previously “Peer perform” rating.

Price Performance Review of SPG

On Friday, Simon Property Group, Inc. [NYSE:SPG] saw its stock fall -0.95% to $147.72. Over the last five days, the stock has gained 3.35%. Simon Property Group, Inc. shares have risen nearly 3.56% since the year began. Nevertheless, the stocks have risen 38.67% over the past one year. While a 52-week high of $157.82 was reached on 03/21/24, a 52-week low of $100.17 was recorded on 02/05/24. SMA at 50 days reached $147.88, while 200 days put it at $131.13. A total of 1.3 million shares were traded, compared to the trading of 1.36 million shares in the previous session.

Levels Of Support And Resistance For SPG Stock

The 24-hour chart illustrates a support level at 146.88, which if violated will result in even more drops to 146.04. On the upside, there is a resistance level at 149.28. A further resistance level may holdings at 150.84. The Relative Strength Index (RSI) on the 14-day chart is 55.76, which indicates neutral technical sentiment, while the Moving Average Convergence Divergence (MACD) stands at 4.06, which suggests price will go up in the next trading period. Percent R suggests that price movement has been low at 30.74%. Stochastics %K at 73.54% indicates the stock is a holding.

The most recent change occurred on October 18, 2022 when Wolfe Research began covering the stock and recommended ‘”a Peer perform”‘ rating.

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