Simon Property Group Given New $177.00 Price Target at Cowen and Company (SPG)
Equities research analysts at Cowen and Company cut their price objective on shares of Simon Property Group (NYSE:SPG) from $199.00 to $177.00 in a research note issued to investors on Thursday, StockRatingsNetwork.com reports. The firm currently has an “outperform” rating on the stock. Cowen and Company’s target price would suggest a potential upside of 19.35% from the stock’s previous close.
Simon Property Group (NYSE:SPG) traded down 0.55% on Thursday, hitting $148.30. 997,681 shares of the company’s stock traded hands. Simon Property Group has a 52-week low of $142.47 and a 52-week high of $182.45. The stock has a 50-day moving average of $152.3 and a 200-day moving average of $162.9. The company has a market cap of $46.023 billion and a P/E ratio of 38.54.
Simon Property Group (NYSE:SPG) last issued its quarterly 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 last year, the company posted $1.89 earnings per share. Simon Property Group’s revenue was up 4.0% compared to the same quarter last year. Analysts expect that Simon Property Group will post $8.74 EPS for the current fiscal year.
Other equities research analysts have also recently issued reports about the stock. Analysts at Janney Montgomery Scott initiated coverage on shares of Simon Property Group (NYSE:SPG) in a research note to investors on Tuesday. They set a “buy” rating on the stock. Separately, analysts at Zacks reiterated a “neutral” rating on shares of Simon Property Group (NYSE:SPG) in a research note to investors on Thursday, September 5th. They now have a $152.00 price target on the stock. Finally, analysts at BMO Capital Markets upgraded shares of Simon Property Group (NYSE:SPG) from a “market perform” rating to an “outperform” rating in a research note to investors on Friday, August 23rd. They noted that the move was a valuation call.
Three equities research analysts have rated the stock with a hold rating and fifteen have issued a buy rating to the stock. Simon Property Group presently has a consensus rating of “Buy” and an average price target of $179.54.
Simon Property Group, Inc(NYSE:SPG), is a self-administered and self-managed real estate investment trust (REIT).
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