Simon Property Group Shares Soar 9.13% After Stifel Upgrade

Simon Property Group (SPG) shares surged by 9.13%, marking a significant rebound after hitting its lowest level since February 2024, with an intraday decline of 2.87%.

Stifel, a prominent financial services firm, recently upgraded Simon Property Group, highlighting that the company's shares have experienced a pullback and are currently undervalued. This upgrade has likely contributed to the positive sentiment surrounding SPG, driving the stock price higher.

Despite the recent upgrade, there has been a notable increase in short interest for Simon Property Group, rising by 23.81%. This surge in short interest suggests a growing bearish sentiment among investors, who may be betting on a further decline in the stock price. The increase in short interest could be a result of concerns over the company's future performance and the broader economic outlook.

Analysts have also expressed concerns about a potential pullback in consumer spending, which could negatively impact Simon Property Group. Despite the company's strong balance sheet and dominant position in the mall business, a significant decrease in consumer spending could lead to lower foot traffic and reduced sales for retailers, ultimately affecting SPG's revenue and profitability.