Simon Property Group Inc (SPG): Today's Featured Real Estate Laggard
Editor's Note: TheStreet ratings do not represent the views of TheStreet's staff or its contributors. Ratings are established by computer based on metrics for performance (which includes growth, stock performance, efficiency and valuation) and risk (volatility and solvency). Companies with poor cash flow or high debt levels tend to earn lower ratings in our model. Simon Property Group (SPG) pushed the Real Estate industry lower today making it today's featured Real Estate laggard. The industry as a whole closed the day down 0.7%. By the end of trading, Simon Property Group fell $1.63 (-1%) to $157.10 on heavy volume. Throughout the day, 1.7 million shares of Simon Property Group exchanged hands as compared to its average daily volume of 1.1 million shares. The stock ranged in price between $156.08-$158.84 after having opened the day at $158.70 as compared to the previous trading day's close of $158.73. Other companies within the Real Estate industry that declined today were: Walter Investment Management (WAC), down 20.7%, American Spectrum Realty (AQQ), down 20%, Homex Development (HXM), down 9.8%, and HMG/Courtland Properties (HMG), down 8%.
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