Simon Property Group's $310M Volume Plunges to 397th in U.S. Equities as Market Uncertainty Weighs on REITs

On September 17, 2025, Simon Property Group (SPG) traded with a volume of $310 million, ranking 397th among U.S. equities by liquidity. The real estate investment trust closed flat at 0.02% higher, reflecting subdued market activity amid mixed sector performance.

Recent developments highlight shifting investor sentiment toward retail and commercial real estate exposure. A pending regulatory review of a major mall redevelopment project in California has sparked speculation about potential delays, though no official timeline adjustments have been announced. Analysts note the uncertainty could pressure short-term valuations for REITs with comparable geographic concentrations.

Market participants are monitoring the Federal Reserve's upcoming policy statements for clues about interest rate trajectory. While long-term yield expectations remain anchored, near-term volatility is likely to persist as investors reassess risk premiums for income-generating assets. The stock's volume profile suggests limited conviction in current price levels, with institutional activity concentrated in options strategies rather than directional bets.

To build a sound back-test for this idea we need to pin down a few practical details the raw description doesn’t yet cover. Could you confirm (or adjust) the items below? 1. Market universe • Should we screen the entire U.S. listed equity universe (NYSE + NASDAQ + Arca)? • Or a narrower list (e.g., only S&P 500 constituents, only mid/large caps, etc.)? 2. Ranking metric • “Top 500 stocks by daily trading volume” – do you mean: a) Share volume (shares traded), or b) Dollar volume (shares × price)? • Ranking frequency: each trading day at the close? 3. Portfolio construction • Equal-weight each of the 500 names? • Enter at today’s close and exit at tomorrow’s close (i.e., 1-day holding period)? • No overlap of positions (full turnover every day)? 4. Frictions • Ignore transaction costs/slippage, or include an estimate (e.g., 2 bps per side)? 5. Benchmark / output • Any specific benchmark to compare against (e.g., SPY)? • Key metrics you’d like (CAGR, daily vol, Sharpe, max drawdown, etc.)? Once these are set I’ll generate the data-retrieval plan and run the back-test.