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Simon Property Group, Inc. [SPG] Shares Jump Approximately 43.85% Over the Year

Investors can expect a company’s stock to rise or fall based on the buying and selling of stock by its insiders. Simon Property Group, Inc. shares valued at $72,983 were purchased by LEIBOWITZ REUBEN S on Jun 28 ’24. At $150.17 per share, LEIBOWITZ REUBEN S acquired 486 shares. The insider’s holdings grew to 55,001 shares worth approximately $9.04 million following the completion of this transaction.

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Also, STEWART MARTA R purchased 184 shares, netting a total of over 27,631 in proceeds. Following the buying of shares at $150.17 each, the insider now holds 14,115 shares.

Before that, SELIG STEFAN M had added 195 shares to its account. In a trade valued at $29,283, the Director bought Simon Property Group, Inc. shares for $150.17 each. Upon closing the transaction, the insider’s holdings increased to 195 shares, worth approximately $4.91 million.

As published in a research note from Evercore ISI on September 16, 2024, Simon Property Group, Inc. [SPG] has been rated up from an In-line to an Outperform and the price target has been revised to $172 from $160. Analysts at Stifel downgraded the stock from ‘”a Buy”‘ to ‘”a Hold”‘ outlook in a report released in mid September. As of September 03, 2024, Piper Sandler has decreased its “an Overweight” rating to a “Neutral” for SPG. Earlier on December 21, 2023, Morgan Stanley downgraded its rating. Their new recommendation was “an Equal-weight” for SPG stock which previously was a “an Overweight”.

Analyzing SPG Stock Performance

During the last five days, there has been a surge of approximately 0.59%. Over the course of the year, Simon Property Group, Inc. shares have jumped approximately 15.22%. Shares of the company reached a 52-week high of $169.18 on 08/27/24 and a 52-week low of $135.15 on 02/05/24. A 50-day SMA is recorded $158.11, while a 200-day SMA reached $148.96. Nevertheless, trading volume fell to 1.71 million shares from 1.29 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 163.04, which, if violated, would cause prices to drop to 161.74. In the upper region, resistance lies at 166.11. The next price resistance is at 167.87. RSI (Relative Strength Index) is 56.07 on the 14-day chart, showing neutral technical sentiment. Moving Average Convergence Divergence (MACD) is at 0.16, which suggests the price will decrease in the coming days. Percent R is at 44.92%, indicating low price movement. Stochastics %K at holding indicates that the stock is to be held.

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