Simon Property Group, Inc. (SPG) Receives Average Rating of “Buy” from Brokerages

Simon Property Group, Inc. (NYSE:SPG) has been given a consensus recommendation of “Buy” by the twenty analysts that are currently covering the firm, Marketbeat Ratings reports. One analyst has rated the stock with a sell rating, six have assigned a hold rating and thirteen have assigned a buy rating to the company. The average 1 year target price among brokerages that have covered the stock in the last year is $193.07.

A number of equities research analysts have recently weighed in on the stock. Stifel Nicolaus reiterated a “hold” rating and issued a $170.00 price target on shares of Simon Property Group in a research report on Thursday. Zacks Investment Research upgraded shares of Simon Property Group from a “hold” rating to a “buy” rating and set a $182.00 price target for the company in a research report on Wednesday. BMO Capital Markets assumed coverage on shares of Simon Property Group in a research report on Monday, September 11th. They issued an “outperform” rating and a $175.00 price target for the company. Jefferies Group LLC reiterated a “buy” rating and issued a $200.00 price target (up from $198.00) on shares of Simon Property Group in a research report on Thursday, August 24th. Finally, Argus dropped their price target on shares of Simon Property Group from $210.00 to $200.00 and set a “buy” rating for the company in a research report on Tuesday, August 22nd.

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Simon Property Group (SPG) traded down 0.33% during midday trading on Friday, hitting $164.54. The stock had a trading volume of 1,385,689 shares. The company has a market cap of $51.15 billion, a price-to-earnings ratio of 29.32 and a beta of 0.60. The company’s 50 day moving average is $159.96 and its 200 day moving average is $161.53. Simon Property Group has a 1-year low of $150.15 and a 1-year high of $199.85.

Simon Property Group (NYSE:SPG) last issued its quarterly earnings data on Tuesday, August 1st. The real estate investment trust reported $2.47 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $2.44 by $0.03. The firm had revenue of $1.36 billion during the quarter, compared to the consensus estimate of $1.37 billion. Simon Property Group had a net margin of 32.07% and a return on equity of 39.29%. The business’s revenue for the quarter was up 3.5% compared to the same quarter last year. During the same period last year, the business posted $2.63 earnings per share. On average, equities analysts anticipate that Simon Property Group will post $6.35 earnings per share for the current fiscal year.

A number of institutional investors and hedge funds have recently made changes to their positions in the business. Nelson Van Denburg & Campbell Wealth Management Group LLC raised its position in Simon Property Group by 0.7% during the second quarter. Nelson Van Denburg & Campbell Wealth Management Group LLC now owns 973 shares of the real estate investment trust’s stock valued at $157,000 after purchasing an additional 7 shares in the last quarter. Logan Capital Management Inc. grew its stake in shares of Simon Property Group by 0.6% during the first quarter. Logan Capital Management Inc. now owns 2,435 shares of the real estate investment trust’s stock worth $419,000 after buying an additional 15 shares during the last quarter. Whitnell & Co. grew its stake in shares of Simon Property Group by 0.4% during the second quarter. Whitnell & Co. now owns 5,363 shares of the real estate investment trust’s stock worth $868,000 after buying an additional 21 shares during the last quarter. WFG Advisors LP grew its stake in shares of Simon Property Group by 1.3% during the second quarter. WFG Advisors LP now owns 1,841 shares of the real estate investment trust’s stock worth $298,000 after buying an additional 23 shares during the last quarter. Finally, Guardian Life Insurance Co. of America grew its stake in shares of Simon Property Group by 2.6% during the first quarter. Guardian Life Insurance Co. of America now owns 1,235 shares of the real estate investment trust’s stock worth $212,000 after buying an additional 31 shares during the last quarter. Institutional investors and hedge funds own 94.95% of the company’s stock.

Simon Property Group Company Profile

Simon Property Group, Inc is a self-administered and self-managed real estate investment trust (REIT). The Company owns, develops and manages retail real estate properties, which consist primarily of malls, Premium Outlets and The Mills. Simon Property Group, L.P. (Operating Partnership), is the Company’s partnership subsidiary that owns all of its real estate properties and other assets.

Analyst Recommendations for Simon Property Group (NYSE:SPG)

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