Simon Property Group Inc (SPG) Receives Average Rating of “Buy” from Analysts

Simon Property Group Inc (NYSE:SPG) has received an average recommendation of “Buy” from the twenty-one ratings firms that are currently covering the stock, Marketbeat.com reports. Two research analysts have rated the stock with a sell rating, six have given a hold rating and thirteen have assigned a buy rating to the company. The average 12-month price objective among brokerages that have covered the stock in the last year is $191.62.

Several equities research analysts have commented on the stock. Zacks Investment Research upgraded shares of Simon Property Group from a “hold” rating to a “buy” rating and set a $182.00 price target on the stock in a research report on Wednesday, October 11th. 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, October 12th. BMO Capital Markets set a $175.00 price target on shares of Simon Property Group and gave the stock a “buy” rating in a research report on Friday, October 27th. Boenning Scattergood set a $240.00 price target on shares of Simon Property Group and gave the stock a “buy” rating in a research report on Monday, October 30th. Finally, Mizuho set a $183.00 price target on shares of Simon Property Group and gave the stock a “buy” rating in a research report on Sunday, October 29th.

Simon Property Group (NYSE SPG) traded up $0.68 during mid-day trading on Monday, reaching $165.51. 1,238,600 shares of the company traded hands, compared to its average volume of 1,694,044. The firm has a market capitalization of $52,960.00, a P/E ratio of 29.24, a P/E/G ratio of 2.07 and a beta of 0.62. Simon Property Group has a 1-year low of $150.15 and a 1-year high of $187.35. The company has a quick ratio of 0.93, a current ratio of 0.93 and a debt-to-equity ratio of 5.57.

Simon Property Group (NYSE:SPG) last posted its quarterly earnings data on Friday, October 27th. The real estate investment trust reported $2.89 earnings per share for the quarter, topping the consensus estimate of $2.88 by $0.01. The business had revenue of $1.40 billion during the quarter, compared to the consensus estimate of $1.39 billion. Simon Property Group had a net margin of 31.96% and a return on equity of 41.85%. The company’s quarterly revenue was up 3.4% compared to the same quarter last year. During the same quarter in the prior year, the company posted $2.70 earnings per share. sell-side analysts expect that Simon Property Group will post 11.21 EPS for the current fiscal year.

In other Simon Property Group news, CAO Steven K. Broadwater sold 621 shares of Simon Property Group stock in a transaction dated Saturday, December 29th. The stock was sold at an average price of $171.95, for a total transaction of $106,780.95. Following the transaction, the chief accounting officer now owns 2,290 shares of the company’s stock, valued at approximately $393,765.50. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Insiders own 8.42% of the company’s stock.

A number of large investors have recently added to or reduced their stakes in the business. Nelson Van Denburg & Campbell Wealth Management Group LLC grew its stake in Simon Property Group by 0.7% during the 2nd 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 acquiring an additional 7 shares in the last quarter. WFG Advisors LP grew its stake in Simon Property Group by 1.3% during the 2nd quarter. WFG Advisors LP now owns 1,841 shares of the real estate investment trust’s stock valued at $298,000 after acquiring an additional 23 shares in the last quarter. South Texas Money Management Ltd. grew its stake in Simon Property Group by 1.7% during the 2nd quarter. South Texas Money Management Ltd. now owns 2,760 shares of the real estate investment trust’s stock valued at $446,000 after acquiring an additional 45 shares in the last quarter. Segment Wealth Management LLC grew its stake in shares of Simon Property Group by 3.5% in the 2nd quarter. Segment Wealth Management LLC now owns 2,405 shares of the real estate investment trust’s stock valued at $389,000 after buying an additional 82 shares in the last quarter. Finally, Raymond James Financial Services Advisors Inc. grew its stake in shares of Simon Property Group by 1.1% in the 2nd quarter. Raymond James Financial Services Advisors Inc. now owns 15,596 shares of the real estate investment trust’s stock valued at $2,523,000 after buying an additional 173 shares in the last quarter. 47.52% of the stock is currently owned by institutional investors.

WARNING: This article was first posted by Chaffey Breeze and is owned by of Chaffey Breeze. If you are reading this article on another publication, it was stolen and reposted in violation of US & international copyright and trademark laws. The original version of this article can be accessed at https://www.chaffeybreeze.com/2018/01/15/simon-property-group-inc-spg-receives-average-rating-of-buy-from-analysts.html.

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)

Receive News & Ratings for Simon Property Group Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Simon Property Group and related companies with MarketBeat.com's FREE daily email newsletter.

Latest News

Leave a Reply