Symbols / SPG $201.68 -1.50% Simon Property Group, Inc.

Real Estate • REIT - Retail • United States • NYQ
SPG Chart
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About

Simon Property Group, Inc. (NYSE:SPG) is a self-administered and self-managed real estate investment trust (“REIT”). Simon Property Group, L.P., or the Operating Partnership, is our majority-owned partnership subsidiary that owns all of our real estate properties and other assets. In this package, the terms Simon, we, our, or the Company refer to Simon Property Group, Inc., the Operating Partnership, and its subsidiaries. We own, develop and manage premier shopping, dining, entertainment and mixed-use destinations, which consist primarily of malls, Premium Outlets, The Mills, and International Properties. At December 31, 2024, we owned or had an interest in 229 properties comprising 183 million square feet in North America, Asia and Europe. We also owned an 88% interest in The Taubman Realty Group, or TRG, which owns 22 regional, super-regional, and outlet malls in the U.S. and Asia. Additionally, at December 31, 2024, we had a 22.4% ownership interest in Klepierre, a publicly traded, Paris-based real estate company, which owns shopping centers in 14 European countries.

Fundamentals
Scroll to Statements
Market Cap 76.77B Enterprise Value 95.45B Income 4.62B Sales 6.36B Book/sh 15.89 Cash/sh 2.53
Dividend Yield 4.22% Payout 60.34% Employees 3100 IPO P/E 14.23 Forward P/E 29.18
PEG 4.58 P/S 12.06 P/B 12.69 P/C EV/EBITDA 20.29 EV/Sales 15.00
Quick Ratio 0.18 Current Ratio 0.24 Debt/Eq 435.46 LT Debt/Eq EPS (ttm) 14.17 EPS next Y 6.91
EPS Growth 3.58% Revenue Growth 13.20% Earnings 2026-05-11 ROA 5.44% ROE 104.11% ROIC
Gross Margin 81.90% Oper. Margin 49.72% Profit Margin 72.71% Shs Outstand 324.84M Shs Float 322.30M Short Float 0.00%
Short Ratio 0.00 Short Interest 52W High 208.28 52W Low 151.84 Beta 1.40 Avg Volume 1.66M
Volume 754.96K Target Price $208.55 Recom Buy Prev Close $204.76 Price $201.68 Change -1.50%
Valuation Models

Price estimates from analyst targets and simple models.

1. Analyst consensus
$208.55
Mean price target
2. Current target
$201.68
Latest analyst target
3. DCF / Fair value
$129.58
Simplified: (Free Cash Flow ÷ Shares) × 18 (P/FCF multiple). Not a …
Ratings
Current target
$201.68
Low
$185.00
High
$250.00
Mean
$208.55

Latest analyst rating changes

Date Action Analyst Rating Change Price Target
2026-04-13 main Barclays Equal-Weight → Equal-Weight $201
2026-03-24 main Scotiabank Sector Perform → Sector Perform $192
2026-03-02 main Barclays Equal-Weight → Equal-Weight $193
2026-03-02 main Truist Securities Hold → Hold $196
2026-02-06 main JP Morgan Neutral → Neutral $210
2026-02-05 main Citigroup Neutral → Neutral $189
2026-02-03 reit Piper Sandler Overweight → Overweight $230
2026-02-03 main Stifel Hold → Hold $185
2026-02-03 main Evercore ISI Group In-Line → In-Line $198
2026-01-14 main Scotiabank Sector Perform → Sector Perform $189
2026-01-08 main UBS Neutral → Neutral $189
2025-12-17 main Truist Securities Hold → Hold $181
2025-11-26 main Citigroup Neutral → Neutral $185
2025-11-18 main Barclays Equal-Weight → Equal-Weight $186
2025-11-13 main Scotiabank Sector Perform → Sector Perform $186
2025-11-10 main Piper Sandler Overweight → Overweight $225
2025-11-04 main Stifel Hold → Hold $184
2025-10-17 main Evercore ISI Group In-Line → In-Line $188
2025-10-06 main Barclays Equal-Weight → Equal-Weight $180
2025-09-18 main Piper Sandler Overweight → Overweight $210
Insider Transactions
Filed Date Insider Relationship Transaction Shares Price Value SEC
2026-04-01 KELLY KEVIN M General Counsel 1,361 $0.00 $0
2026-04-01 FREY DONALD G Officer and Treasurer 2,721 $0.00 $0
2026-04-01 JACKSON MATTHEW A Officer and Treasurer 1,361 $0.00 $0
2026-03-31 AEPPEL GLYN F Director 221 $183.80 $40,620
2026-03-31 STEWART MARTA R Director 196 $183.80 $36,025
2026-03-31 SELIG STEFAN M Director 206 $183.80 $37,863
2026-03-31 ROE PEGGY FANG Director 81 $183.80 $14,888
2026-03-31 JONES NINA P. Director 36 $183.80 $6,617
2026-03-31 RODKIN GARY M Director 232 $183.80 $42,642
2026-03-31 LEIBOWITZ REUBEN S Director 491 $183.80 $90,246
Financials
Statement View
Amounts in millions (2 decimals, no suffix) • EPS per share (2 decimals) • Trend = period evolution • YoY Growth = previous period %
Line Item Trend 2025-12-31 2024-12-31 2023-12-31 2022-12-31
Total Revenue
6,364.51
+6.72%
5,963.80
+5.39%
5,658.84
+6.94%
5,291.45
Operating Revenue
5,983.59
+8.34%
5,523.01
+4.40%
5,290.33
+5.34%
5,022.08
Cost Of Revenue
1,152.02
+10.41%
1,043.41
+1.46%
1,028.39
+2.74%
1,000.95
Reconciled Cost Of Revenue
1,024.10
+7.93%
948.89
-0.84%
956.91
+2.21%
936.21
Gross Profit
5,212.49
+5.94%
4,920.38
+6.26%
4,630.45
+7.92%
4,290.49
Operating Expense
2,037.09
+11.46%
1,827.59
+0.23%
1,823.43
+6.82%
1,706.94
Selling General And Administration
216.71
+14.49%
189.29
+14.13%
165.86
+16.18%
142.76
Selling And Marketing Expense
155.83
+7.80%
144.55
+13.51%
127.35
+18.14%
107.79
General And Administrative Expense
60.89
+36.08%
44.74
+16.18%
38.51
+10.13%
34.97
Other Gand A
60.89
+36.08%
44.74
+16.18%
38.51
+10.13%
34.97
Other Operating Expenses
393.95
+5.63%
372.95
-5.69%
395.46
+17.42%
336.81
Total Expenses
3,189.11
+11.08%
2,871.00
+0.67%
2,851.81
+5.31%
2,707.89
Operating Income
3,175.40
+2.67%
3,092.80
+10.18%
2,807.02
+8.65%
2,583.55
Total Operating Income As Reported
3,175.40
+2.67%
3,092.80
+10.18%
2,807.02
+8.65%
2,583.55
EBITDA
7,929.09
+58.01%
5,017.94
+2.68%
4,887.12
+6.49%
4,589.26
Normalized EBITDA
5,233.83
+12.31%
4,659.98
+3.18%
4,516.27
-0.16%
4,523.64
Reconciled Depreciation
1,554.35
+14.30%
1,359.86
+1.97%
1,333.58
+3.21%
1,292.11
EBIT
6,374.74
+74.26%
3,658.08
+2.94%
3,553.54
+7.78%
3,297.15
Total Unusual Items
2,695.26
+652.95%
357.96
-3.48%
370.86
+465.16%
65.62
Total Unusual Items Excluding Goodwill
2,695.26
+652.95%
357.96
-3.48%
370.86
+465.16%
65.62
Special Income Charges
2,801.34
+646.32%
375.35
+4.57%
358.96
+183.04%
126.82
Other Special Charges
Restructuring And Mergern Acquisition
-2,887.46
-3908.41%
75.82
+2380.96%
3.06
+154.12%
-5.65
Net Income
4,627.61
+95.18%
2,370.90
+3.84%
2,283.13
+6.71%
2,139.53
Pretax Income
5,399.91
+96.20%
2,752.28
+1.98%
2,698.89
+6.43%
2,535.90
Net Non Operating Interest Income Expense
-974.84
-7.62%
-905.80
-5.98%
-854.65
-12.27%
-761.25
Interest Expense Non Operating
974.84
+7.62%
905.80
+5.98%
854.65
+12.27%
761.25
Net Interest Income
-974.84
-7.62%
-905.80
-5.98%
-854.65
-12.27%
-761.25
Interest Expense
974.84
+7.62%
905.80
+5.98%
854.65
+12.27%
761.25
Other Income Expense
3,199.35
+465.97%
565.28
-24.28%
746.52
+4.61%
713.60
Gain On Sale Of Security
-106.08
-509.95%
-17.39
-246.25%
11.89
+119.43%
-61.20
Gain On Sale Of Business
-86.12
-119.09%
451.17
+24.63%
362.02
+198.75%
121.18
Tax Provision
35.79
+53.85%
23.26
-71.59%
81.87
-1.96%
83.51
Tax Rate For Calcs
0.00
-21.58%
0.00
-72.14%
0.00
-7.88%
0.00
Tax Effect Of Unusual Items
17.86
+490.42%
3.03
-73.11%
11.25
+420.61%
2.16
Net Income Including Noncontrolling Interests
5,364.12
+96.56%
2,729.02
+4.28%
2,617.02
+6.71%
2,452.39
Net Income From Continuing Operation Net Minority Interest
4,627.61
+95.18%
2,370.90
+3.84%
2,283.13
+6.71%
2,139.53
Net Income From Continuing And Discontinued Operation
4,627.61
+95.18%
2,370.90
+3.84%
2,283.13
+6.71%
2,139.53
Net Income Continuous Operations
5,364.12
+96.56%
2,729.02
+4.28%
2,617.02
+6.71%
2,452.39
Minority Interests
-736.51
-105.66%
-358.12
-7.26%
-333.89
-6.73%
-312.85
Normalized Income
1,950.22
-3.26%
2,015.96
+4.81%
1,923.52
-7.35%
2,076.08
Net Income Common Stockholders
4,624.27
+95.32%
2,367.56
+3.85%
2,279.79
+6.72%
2,136.20
Diluted EPS
14.17
+95.18%
7.26
+4.01%
6.98
+7.06%
6.52
Basic EPS
14.17
+95.18%
7.26
+4.01%
6.98
+7.06%
6.52
Basic Average Shares
326.37
+0.08%
326.10
-0.22%
326.81
-0.31%
327.82
Diluted Average Shares
326.37
+0.08%
326.10
-0.22%
326.81
-0.31%
327.82
Diluted NI Availto Com Stockholders
4,624.27
+95.32%
2,367.56
+3.85%
2,279.79
+6.72%
2,136.20
Depreciation Amortization Depletion Income Statement
1,426.42
+12.73%
1,265.34
+0.26%
1,262.11
+2.83%
1,227.37
Depreciation And Amortization In Income Statement
1,426.42
+12.73%
1,265.34
+0.26%
1,262.11
+2.83%
1,227.37
Earnings From Equity Interest
504.09
+143.14%
207.32
-44.81%
375.66
-42.03%
647.98
Preferred Stock Dividends
3.34
+0.00%
3.34
+0.00%
3.34
+0.00%
3.34
Line Item Trend 2025-12-31 2024-12-31 2023-12-31 2022-12-31
Total Assets
40,606.47
+25.31%
32,405.69
-5.48%
34,283.50
+3.85%
33,011.27
Current Assets
2,314.96
-18.17%
2,828.95
-21.16%
3,588.37
+70.27%
2,107.50
Cash Cash Equivalents And Short Term Investments
823.15
-41.22%
1,400.35
-35.44%
2,168.99
+248.92%
621.63
Cash And Cash Equivalents
823.15
-41.22%
1,400.35
+19.79%
1,168.99
+88.05%
621.63
Other Short Term Investments
0.00
-100.00%
1,000.00
0.00
Receivables
1,491.81
+4.42%
1,428.60
+0.65%
1,419.38
-4.47%
1,485.87
Accounts Receivable
934.08
+17.27%
796.51
-3.58%
826.13
+0.31%
823.54
Prepaid Assets
662.33
Restricted Cash
0.00
Total Non Current Assets
38,291.51
+29.46%
29,576.75
-3.64%
30,695.12
-0.68%
30,903.77
Net PPE
755.93
+45.48%
519.61
+7.34%
484.07
-2.59%
496.93
Gross PPE
755.93
+45.48%
519.61
+7.34%
484.07
-2.59%
496.93
Other Properties
755.93
+45.48%
519.61
+7.34%
484.07
-2.59%
496.93
Goodwill And Other Intangible Assets
69.33
+203.50%
22.84
-20.71%
28.81
-23.92%
37.87
Goodwill
20.10
+0.00%
20.10
+0.00%
20.10
+0.00%
20.10
Other Intangible Assets
49.23
+1692.90%
2.75
-68.48%
8.71
-50.97%
17.77
Investments And Advances
6,392.10
-17.59%
7,756.66
-9.13%
8,536.08
+0.33%
8,508.26
Long Term Equity Investment
5,867.72
-17.64%
7,124.30
-12.24%
8,118.24
-0.35%
8,146.72
Non Current Deferred Assets
128.94
+56.63%
82.32
+5.80%
77.81
-20.24%
97.55
Other Non Current Assets
700.64
Total Liabilities Net Minority Interest
33,901.07
+17.69%
28,806.24
-5.85%
30,595.90
+4.83%
29,187.38
Current Liabilities
4,051.54
+19.33%
3,395.31
-1.76%
3,456.01
+8.22%
3,193.41
Payables And Accrued Expenses
3,696.54
+8.87%
3,395.31
-1.76%
3,456.01
+8.22%
3,193.41
Payables
3,696.54
+8.87%
3,395.31
-1.76%
3,456.01
+8.22%
3,193.41
Accounts Payable
1,954.40
+14.13%
1,712.46
+1.13%
1,693.25
+13.52%
1,491.58
Dividends Payable
1,742.14
+3.52%
1,682.84
-4.53%
1,762.76
+3.58%
1,701.83
Current Debt And Capital Lease Obligation
355.00
Current Debt
355.00
Total Non Current Liabilities Net Minority Interest
29,849.53
+17.47%
25,410.93
-6.37%
27,139.88
+4.41%
25,993.97
Long Term Debt And Capital Lease Obligation
28,831.71
+16.33%
24,784.78
-6.54%
26,518.28
+4.16%
25,458.24
Long Term Debt
28,075.17
+15.70%
24,264.49
-6.79%
26,033.42
+4.30%
24,960.29
Long Term Capital Lease Obligation
756.54
+45.41%
520.28
+7.31%
484.86
-2.63%
497.95
Other Non Current Liabilities
1,017.82
+62.55%
626.15
+0.73%
621.60
+16.03%
535.74
Preferred Securities Outside Stock Equity
Stockholders Equity
5,208.27
+77.04%
2,941.93
-2.68%
3,022.83
-3.69%
3,138.52
Common Stock Equity
5,167.82
+78.13%
2,901.15
-2.70%
2,981.73
-3.72%
3,097.09
Capital Stock
40.48
-0.80%
40.81
-0.80%
41.14
-0.80%
41.47
Common Stock
0.03
+0.00%
0.03
+0.00%
0.03
-2.94%
0.03
Preferred Stock
40.45
-0.80%
40.78
-0.80%
41.11
-0.79%
41.44
Share Issued
343.07
+0.03%
342.95
+0.01%
342.90
0.00%
342.91
Ordinary Shares Number
325.22
-0.32%
326.28
+0.11%
325.92
-0.32%
326.95
Treasury Shares Number
17.84
+7.01%
16.68
-1.81%
16.98
+6.41%
15.96
Additional Paid In Capital
12,347.19
+6.60%
11,583.05
+1.55%
11,406.24
+1.54%
11,232.88
Retained Earnings
-4,608.14
+27.80%
-6,382.52
-4.71%
-6,095.58
-2.84%
-5,926.97
Gains Losses Not Affecting Retained Earnings
-251.36
-30.22%
-193.03
-11.71%
-172.79
-4.80%
-164.87
Treasury Stock
2,319.91
+10.14%
2,106.40
-2.31%
2,156.18
+5.49%
2,043.98
Minority Interest
1,497.12
+127.69%
657.53
-1.09%
664.76
-3.01%
685.37
Other Equity Adjustments
-251.36
-30.22%
-193.03
-11.71%
-172.79
-4.80%
-164.87
Total Equity Gross Minority Interest
6,705.39
+86.29%
3,599.45
-2.39%
3,687.60
-3.56%
3,823.89
Total Capitalization
33,283.44
+22.34%
27,206.42
-6.37%
29,056.26
+3.41%
28,098.81
Working Capital
-1,736.59
-206.62%
-566.36
-527.89%
132.36
+112.19%
-1,085.91
Invested Capital
33,597.99
+23.68%
27,165.64
-6.37%
29,015.15
+3.41%
28,057.38
Total Debt
29,186.71
+17.76%
24,784.78
-6.54%
26,518.28
+4.16%
25,458.24
Net Debt
27,607.03
+20.74%
22,864.15
-8.04%
24,864.43
+2.16%
24,338.66
Capital Lease Obligations
756.54
+45.41%
520.28
+7.31%
484.86
-2.63%
497.95
Net Tangible Assets
5,138.94
+76.05%
2,919.08
-2.50%
2,994.02
-3.44%
3,100.65
Tangible Book Value
5,098.49
+77.14%
2,878.30
-2.53%
2,952.92
-3.47%
3,059.22
Commercial Paper
355.00
0.00
0.00
Investment Properties
30,244.56
+42.69%
21,195.31
-1.73%
21,568.35
-0.90%
21,763.16
Investmentin Financial Assets
524.39
-17.07%
632.36
+51.34%
417.84
+15.57%
361.54
Investments In Other Ventures Under Equity Method
4,362.34
+63.34%
2,670.74
-24.57%
3,540.65
+0.84%
3,511.26
Investmentsin Joint Venturesat Cost
1,505.38
-66.20%
4,453.56
-2.71%
4,577.59
-1.25%
4,635.46
Notes Receivable
557.73
-11.76%
632.09
+6.55%
593.26
-10.43%
662.33
Preferred Shares Number
0.80
+0.00%
0.80
+0.00%
0.80
+0.00%
0.80
Preferred Stock Equity
40.45
-0.80%
40.78
-0.80%
41.11
-0.79%
41.44
Line Item Trend 2025-12-31 2024-12-31 2023-12-31 2022-12-31
Operating Cash Flow
4,136.55
+8.44%
3,814.66
-2.95%
3,930.79
+4.36%
3,766.60
Cash Flow From Continuing Operating Activities
4,136.55
+8.44%
3,814.66
-2.95%
3,930.79
+4.36%
3,766.60
Net Income From Continuing Operations
5,364.12
+96.56%
2,729.02
+4.28%
2,617.02
+6.71%
2,452.39
Depreciation Amortization Depletion
1,554.35
+14.30%
1,359.86
+1.97%
1,333.58
+3.21%
1,292.11
Depreciation And Amortization
1,554.35
+14.30%
1,359.86
+1.97%
1,333.58
+3.21%
1,292.11
Other Non Cash Items
-2,915.25
-3904.82%
76.62
+492.94%
12.92
-34.03%
19.59
Operating Gains Losses
-417.97
+36.53%
-658.49
+10.73%
-737.68
+4.09%
-769.15
Unrealized Gain Loss On Investment Securities
106.08
+509.95%
17.39
+246.25%
-11.89
-119.43%
61.20
Net Foreign Currency Exchange Gain Loss
Change In Working Capital
-0.68
+99.06%
-72.48
-128.08%
258.13
+73.38%
148.89
Change In Receivables
-59.77
-265.29%
36.16
+406.40%
-11.80
-118.63%
63.35
Change In Payables And Accrued Expense
44.52
-65.01%
127.24
-48.17%
245.51
+29.15%
190.10
Change In Payable
44.52
-65.01%
127.24
-48.17%
245.51
+29.15%
190.10
Change In Account Payable
44.52
-65.01%
127.24
-48.17%
245.51
+29.15%
190.10
Change In Other Working Capital
14.56
+106.17%
-235.88
-1065.83%
24.42
+123.36%
-104.57
Investing Cash Flow
-1,600.70
-213.66%
1,408.32
+203.31%
-1,363.18
-117.56%
-626.56
Cash Flow From Continuing Investing Activities
-1,600.70
-213.66%
1,408.32
+203.31%
-1,363.18
-117.56%
-626.56
Capital Expenditure
-934.35
-23.66%
-755.58
+4.75%
-793.28
-22.04%
-650.02
Capital Expenditure Reported
-934.35
-23.66%
-755.58
+4.75%
-793.28
-22.04%
-650.02
Net Investment Purchase And Sale
47.49
-97.56%
1,942.34
+366.95%
-727.61
-1716.58%
-40.05
Purchase Of Investment
-48.70
+94.21%
-841.19
+18.47%
-1,031.74
-1459.94%
-66.14
Sale Of Investment
96.19
-96.54%
2,783.53
+815.25%
304.13
+1065.87%
26.09
Net Business Purchase And Sale
-1,176.79
-597.31%
-168.76
-12.66%
-149.79
+65.89%
-439.16
Purchase Of Business
-1,176.79
-597.31%
-168.76
-12.66%
-149.79
+65.89%
-439.16
Gain Loss On Sale Of Business
86.12
+119.09%
-451.17
-24.63%
-362.02
-198.75%
-121.18
Net Other Investing Changes
16.96
-45.44%
31.08
+271.54%
8.37
-8.80%
9.17
Financing Cash Flow
-3,113.05
+37.63%
-4,991.62
-147.08%
-2,020.25
+33.81%
-3,052.35
Cash Flow From Continuing Financing Activities
-3,113.05
+37.63%
-4,991.62
-147.08%
-2,020.25
+33.81%
-3,052.35
Net Issuance Payments Of Debt
390.42
+120.84%
-1,873.74
-292.91%
971.32
+456.50%
-272.46
Issuance Of Debt
3,668.89
+234.89%
1,095.55
-69.82%
3,629.84
+5.23%
3,449.40
Repayment Of Debt
-3,278.47
-10.41%
-2,969.29
-11.69%
-2,658.53
+28.57%
-3,721.86
Long Term Debt Issuance
3,668.89
+234.89%
1,095.55
-69.82%
3,629.84
+5.23%
3,449.40
Long Term Debt Payments
-3,278.47
-10.41%
-2,969.29
-11.69%
-2,658.53
+28.57%
-3,721.86
Net Long Term Debt Issuance
390.42
+120.84%
-1,873.74
-292.91%
971.32
+456.50%
-272.46
Net Common Stock Issuance
-248.35
-367.00%
-53.18
+66.81%
-160.24
+15.38%
-189.35
Common Stock Payments
-248.35
-367.00%
-53.18
+66.81%
-160.24
+15.38%
-189.35
Common Stock Dividend Paid
-439.38
-10.07%
-399.19
-12.27%
-355.55
-8.88%
-326.55
Cash Dividends Paid
-3,233.42
-6.15%
-3,045.96
-8.91%
-2,796.68
-7.88%
-2,592.47
Repurchase Of Capital Stock
-253.35
-317.52%
-60.68
+62.71%
-162.74
+14.06%
-189.35
Net Other Financing Charges
-16.70
-48.54%
-11.24
+65.03%
-32.14
-1756.86%
1.94
Changes In Cash
-577.20
-349.49%
231.35
-57.73%
547.36
+524.19%
87.69
Beginning Cash Position
1,400.35
+19.79%
1,168.99
+88.05%
621.63
+16.42%
533.94
End Cash Position
823.15
-41.22%
1,400.35
+19.79%
1,168.99
+88.05%
621.63
Free Cash Flow
3,202.20
+4.68%
3,059.07
-2.50%
3,137.51
+0.67%
3,116.58
Common Stock Issuance
0.00
0.00
Dividend Received CFO
445.90
+22.93%
362.73
-20.92%
458.71
-18.32%
561.58
Dividends Received CFI
341.15
+8.99%
313.02
+4.64%
299.14
-36.69%
472.51
Earnings Losses From Equity Investments
-504.09
-143.14%
-207.32
+44.81%
-375.66
+42.03%
-647.98
Issuance Of Capital Stock
0.00
0.00
Net Investment Properties Purchase And Sale
104.83
+126.77%
46.23
0.00
-100.00%
20.99
Net Preferred Stock Issuance
-5.00
+33.33%
-7.50
-200.00%
-2.50
0.00
Preferred Stock Dividend Paid
-2,794.04
-5.56%
-2,646.77
-8.42%
-2,441.13
-7.73%
-2,265.92
Preferred Stock Payments
-5.00
+33.33%
-7.50
-200.00%
-2.50
0.00
Sale Of Investment Properties
104.83
+126.77%
46.23
0.00
-100.00%
20.99
SEC Filings

Recent 10-K, 10-Q, 8-K, and Form 4 (insider) filings.

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