Simon Property Group Upgraded to Outperform at BMO Capital Markets (SPG)
Simon Property Group (NYSE:SPG) was upgraded by equities researchers at BMO Capital Markets from a “market perform” rating to an “outperform” rating in a research report issued on Friday, TheFlyOnTheWall.com reports. The analysts noted that the move was a valuation call.
Shares of Simon Property Group (NYSE:SPG) opened at 146.36 on Friday. Simon Property Group has a 1-year low of $143.20 and a 1-year high of $182.45. The stock’s 50-day moving average is $158.2 and its 200-day moving average is $164.3. The company has a market cap of $45.420 billion and a P/E ratio of 37.83.
Simon Property Group (NYSE:SPG) last released its earnings data on Monday, July 29th. The company reported $2.11 earnings per share for the quarter, beating the analysts’ consensus estimate of $2.07 by $0.04. The company had revenue of $1.24 billion for the quarter, compared to the consensus estimate of $1.24 billion. During the same quarter in the prior year, the company posted $1.89 earnings per share. The company’s quarterly revenue was up 4.0% on a year-over-year basis. On average, analysts predict that Simon Property Group will post $8.74 earnings per share for the current fiscal year.
Several other analysts have also recently commented on the stock. Analysts at Jefferies Group cut their price target on shares of Simon Property Group from $196.00 to $186.00 in a research note to investors on Monday, August 5th. They now have a “buy” rating on the stock. Separately, analysts at Zacks reiterated a “neutral” rating on shares of Simon Property Group in a research note to investors on Tuesday, July 30th. They now have a $171.00 price target on the stock.
Three analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company. The stock currently has a consensus rating of “Buy” and a consensus price target of $181.33.
The company also recently declared a quarterly dividend, which is scheduled for Friday, August 30th. Stockholders of record on Friday, August 16th will be given a dividend of $1.15 per share. This represents a $4.60 dividend on an annualized basis and a yield of 3.14%. The ex-dividend date of this dividend is Wednesday, August 14th.
Simon Property Group, Inc(NYSE:SPG), is a self-administered and self-managed real estate investment trust (REIT).
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