Simon Property Group, Inc. (NYSE:SPG)‘s stock had its “buy” rating restated by equities research analysts at Jefferies Group LLC in a research note issued to investors on Thursday. They presently have a $200.00 price target on the real estate investment trust’s stock, up from their previous price target of $198.00. Jefferies Group LLC’s target price points to a potential upside of 25.75% from the company’s previous close. Jefferies Group also issued estimates for Simon Property Group’s Q4 2017 earnings at $3.12 EPS and FY2019 earnings at $12.71 EPS.
A number of other brokerages have also weighed in on SPG. Vetr lowered shares of Simon Property Group from a “strong-buy” rating to a “buy” rating and set a $186.15 price objective on the stock. in a report on Tuesday, May 2nd. Boenning Scattergood set a $240.00 price objective on shares of Simon Property Group and gave the company a “buy” rating in a report on Wednesday, August 2nd. Barclays PLC raised their price objective on shares of Simon Property Group from $188.00 to $190.00 and gave the company an “overweight” rating in a report on Tuesday, August 8th. Argus reduced their price objective on shares of Simon Property Group from $225.00 to $210.00 and set a “buy” rating on the stock in a report on Thursday, June 29th. Finally, BidaskClub upgraded shares of Simon Property Group from a “strong sell” rating to a “sell” rating in a report on Sunday, July 16th. Two investment analysts have rated the stock with a sell rating, six have issued a hold rating and eleven have issued a buy rating to the company. The company has a consensus rating of “Hold” and a consensus target price of $195.01.
Shares of Simon Property Group (SPG) opened at 159.04 on Thursday. The firm’s 50-day moving average price is $159.66 and its 200 day moving average price is $165.41. The stock has a market capitalization of $49.44 billion, a P/E ratio of 28.34 and a beta of 0.58. Simon Property Group has a 52 week low of $150.15 and a 52 week high of $219.41.
Simon Property Group (NYSE:SPG) last released its earnings results on Tuesday, August 1st. The real estate investment trust reported $2.47 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $2.44 by $0.03. The company had revenue of $1.36 billion for the quarter, compared to analyst estimates of $1.37 billion. Simon Property Group had a net margin of 32.07% and a return on equity of 39.29%. The firm’s quarterly revenue was up 3.5% on a year-over-year basis. During the same period in the prior year, the business earned $2.63 EPS. Analysts expect that Simon Property Group will post $6.37 earnings per share for the current year.
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Large investors have recently made changes to their positions in the company. Norway Savings Bank raised its stake in shares of Simon Property Group by 19.5% in the second quarter. Norway Savings Bank now owns 765 shares of the real estate investment trust’s stock valued at $124,000 after buying an additional 125 shares in the last quarter. Bronfman E.L. Rothschild L.P. raised its stake 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 valued at $127,000 after buying an additional 169 shares in the last quarter. Rockefeller Financial Services Inc. bought a new stake in shares of Simon Property Group during the first quarter valued at approximately $138,000. Alpha Windward LLC raised its stake in shares of Simon Property Group by 12.2% in the second quarter. Alpha Windward LLC now owns 856 shares of the real estate investment trust’s stock valued at $138,000 after buying an additional 93 shares in the last quarter. Finally, Israel Discount Bank of New York bought a new stake in shares of Simon Property Group during the first quarter valued at approximately $146,000. Hedge funds and other institutional investors own 95.77% of the company’s stock.
About Simon Property Group
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.
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