Simon Property Group Inc (NYSE:SPG) Given Buy Rating at Jefferies Group LLC

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

SPG has been the subject of a number of other research reports. Argus lowered their target price on shares of Simon Property Group from $225.00 to $210.00 and set a “buy” rating for the company in a research note on Thursday, June 29th. Morgan Stanley reissued an “equal weight” rating and set a $158.00 target price (down previously from $180.00) on shares of Simon Property Group in a research note on Saturday, June 3rd. Zacks Investment Research downgraded shares of Simon Property Group from a “hold” rating to a “sell” rating in a research note on Wednesday, June 14th. BTIG Research reissued a “buy” rating and set a $231.00 target price on shares of Simon Property Group in a research note on Monday, April 3rd. Finally, ValuEngine downgraded shares of 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 assigned a hold rating and eleven have assigned a buy rating to the stock. The company presently has a consensus rating of “Buy” and a consensus target price of $195.01.

Shares of Simon Property Group (NYSE:SPG) traded down 2.02% during trading on Tuesday, hitting $157.89. 1,839,334 shares of the stock traded hands. Simon Property Group has a 1-year low of $150.15 and a 1-year high of $219.41. The firm has a market capitalization of $49.08 billion, a price-to-earnings ratio of 28.14 and a beta of 0.58. The firm has a 50-day moving average of $160.84 and a 200-day moving average of $167.22.

Simon Property Group (NYSE:SPG) last released its quarterly earnings results on Tuesday, August 1st. The real estate investment trust reported $2.47 earnings per share (EPS) for the quarter, beating 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 32.42% and a return on equity of 39.55%. The company’s revenue for the quarter was up 3.5% on a year-over-year basis. During the same quarter last year, the firm earned $2.63 earnings per share. On average, equities analysts forecast that Simon Property Group will post $6.43 earnings per share for the current year.

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Several hedge funds and other institutional investors have recently modified their holdings of the stock. Norway Savings Bank boosted its position in shares of 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. boosted its position in shares of 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 boosted its position in shares of 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. Bronfman E.L. Rothschild L.P. boosted its position in shares of Simon Property Group by 27.3% in the second quarter. Bronfman E.L. Rothschild L.P. now owns 787 shares of the real estate investment trust’s stock worth $127,000 after buying an additional 169 shares in the last quarter. Finally, Rockefeller Financial Services Inc. acquired a new position in shares of Simon Property Group during the first quarter worth about $138,000. Hedge funds and other institutional investors own 95.64% 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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