Simon Property Group is rallying in pre-market trading despite recent negative sentiment surrounding the redemption risk of its preferred stock, SPG.PR.J, which was flagged late yesterday for its high coupon and trading premium.
The move appears to be idiosyncratic, as the broader retail REIT sector showed only modest gains or slight declines during the previous regular session, with peers like Kimco Realty and Brixmor Property Group rising less than 1.5%. There is no company-specific news from the last two days to account for this upward mome