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Simon Property Group's Series J Preferred Stock Crosses Above 6% Yield Territory


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In trading on Thursday, shares of Simon Property Group, Inc.'s 8 3/8% Series J Cumulative Redeemable Preferred Stock (Symbol: SPG.PRJ) were yielding above the 6% mark based on its quarterly dividend (annualized to $4.1875), with shares changing hands as low as $69.04 on the day. This compares to an average yield of 7.28% in the "Real Estate" preferred stock category, according to Preferred Stock Channel . As of last close, SPG.PRJ was trading at a 43.50% premium to its liquidation preference amount, versus the average premium of 23.24% in the "Real Estate" category.

Performance Comparison Chart

Below is a dividend history chart for SPG.PRJ, showing historical dividend payments on Simon Property Group, Inc.'s 8 3/8% Series J Cumulative Redeemable Preferred Stock:

SPG.PRJ+Dividend+History+Chart

In Thursday trading, Simon Property Group, Inc.'s 8 3/8% Series J Cumulative Redeemable Preferred Stock (Symbol: SPG.PRJ) is currently off about 1.7% on the day, while the common shares (Symbol: SPG) are down about 0.6%.

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The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.



This article appears in: Investing , Investing Ideas
Referenced Symbols: SPG.PRJ , SPG



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