Chart of the Day - Simon Property Group (SPG)

The "Chart of the Day" is Simon Property Group (SPG), which showed up on Tuesday's Barchart "All Time High" list. SPG on Tuesday posted a new all-time high of $133.64 and closed up 1.60%. TrendSpotter has been Long since Dec 22 at $129.06. In recent news on the stock, Simon Property Group on Jan 17 was downgraded to Hold from Buy by Sifel Nicolaus due to valuation concerns. WSJ on Jan 9 reported that malls and shopping centers in Q4 showed a slight improvement in occupancy rates but that the outlook for 2012 is mixed. Simon Property Group, with a market cap of $38 billion, is a real estate investment trust that is engaged in the ownership, development, management, leasing, acquisition and expansion of income-producing properties, primarily regional malls and community shopping centers.