Simon Property Group, Inc. (NYSE:SPG) Earns “Buy” Rating from Jefferies Group LLC

Simon Property Group, Inc. (NYSE:SPG)‘s stock had its “buy” rating reiterated by research analysts at Jefferies Group LLC in a research report issued on Tuesday, July 25th.

SPG has been the subject of a number of other reports. Zacks Investment Research lowered Simon Property Group from a “hold” rating to a “sell” rating in a research note on Monday, March 27th. Vetr upgraded Simon Property Group from a “buy” rating to a “strong-buy” rating and set a $186.15 price objective for the company in a research note on Wednesday, April 26th. Goldman Sachs Group, Inc. (The) upgraded Simon Property Group from a “neutral” rating to a “buy” rating and increased their price objective for the stock from $175.00 to $185.00 in a research note on Tuesday, June 20th. Stifel Nicolaus initiated coverage on Simon Property Group in a research note on Friday, July 14th. They set a “hold” rating and a $170.00 price objective for the company. Finally, ValuEngine lowered Simon Property Group from a “buy” rating to a “hold” rating in a research note on Friday, June 2nd. One research analyst has rated the stock with a sell rating, seven have issued a hold rating and eleven have assigned a buy rating to the company. The company has an average rating of “Buy” and an average target price of $194.88.

Simon Property Group (SPG) traded up 1.59% during trading on Tuesday, reaching $164.53. 1,647,499 shares of the company’s stock were exchanged. Simon Property Group has a 52-week low of $150.15 and a 52-week high of $223.07. The stock’s 50-day moving average price is $160.11 and its 200-day moving average price is $168.14. The company has a market capitalization of $51.14 billion, a price-to-earnings ratio of 29.32 and a beta of 0.58.

Simon Property Group (NYSE:SPG) last issued its earnings results on Tuesday, August 1st. The real estate investment trust reported $2.47 EPS for the quarter, beating analysts’ consensus estimates of $2.44 by $0.03. The business had revenue of $1.36 billion during the quarter, compared to analyst estimates of $1.37 billion. Simon Property Group had a return on equity of 39.29% and a net margin of 32.07%. Simon Property Group’s revenue was up 3.5% on a year-over-year basis. During the same period in the prior year, the company posted $2.63 earnings per share. Equities analysts expect that Simon Property Group will post $6.28 earnings per share for the current year.

Several large investors have recently added to or reduced their stakes in SPG. Norway Savings Bank raised its stake in Simon Property Group by 75.3% in the first quarter. Norway Savings Bank now owns 640 shares of the real estate investment trust’s stock worth $110,000 after buying an additional 275 shares in the last quarter. Farmers & Merchants Investments Inc. raised its stake in Simon Property Group by 8.4% in the first quarter. Farmers & Merchants Investments Inc. now owns 643 shares of the real estate investment trust’s stock worth $111,000 after buying an additional 50 shares in the last quarter. Alpha Windward LLC raised its stake in Simon Property Group by 4.1% in the first quarter. Alpha Windward LLC now owns 763 shares of the real estate investment trust’s stock worth $131,000 after buying an additional 30 shares in the last quarter. Rockefeller Financial Services Inc. acquired a new stake in Simon Property Group during the first quarter worth approximately $138,000. Finally, Israel Discount Bank of New York acquired a new stake in Simon Property Group during the first quarter worth approximately $146,000. 95.44% of the stock is currently owned by institutional investors.

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.