Simon Property Group PT Raised to $175.00 at Imperial Capital (SPG)
Analysts at Imperial Capital boosted their target price on shares of Simon Property Group (NYSE:SPG) from $170.00 to $175.00 in a research report issued to clients and investors on Wednesday, Stock Ratings News reports. The firm currently has an “in-line” rating on the stock. Imperial Capital’s price target suggests a potential upside of 2.48% from the stock’s previous close.
SPG has been the subject of a number of other recent research reports. Analysts at Barclays raised their price target on shares of Simon Property Group from $181.00 to $190.00 in a research note on Tuesday. They now have an “overweight” rating on the stock. Separately, analysts at Cowen and Company raised their price target on shares of Simon Property Group from $177.00 to $196.00 in a research note on Tuesday. Finally, analysts at MLV & Co. initiated coverage on shares of Simon Property Group in a research note on Tuesday, March 25th. They set a “hold” rating and a $181.00 price target on the stock. Four investment analysts have rated the stock with a hold rating and ten have given a buy rating to the stock. Simon Property Group presently has a consensus rating of “Buy” and an average target price of $186.46.
Simon Property Group (NYSE:SPG) traded up 0.07% on Wednesday, hitting $170.76. The stock had a trading volume of 1,719,125 shares. Simon Property Group has a 52 week low of $142.47 and a 52 week high of $182.45. The stock’s 50-day moving average is $164.6 and its 200-day moving average is $157.2. The company has a market cap of $53.039 billion and a P/E ratio of 40.25.
Simon Property Group (NYSE:SPG) last announced its earnings results on Tuesday, April 22nd. The company reported $2.38 earnings per share for the quarter, beating the analysts’ consensus estimate of $2.24 by $0.14. The company had revenue of $1.32 billion for the quarter, compared to the consensus estimate of $1.30 billion. During the same quarter last year, the company posted $2.05 earnings per share. Simon Property Group’s revenue was up 8.2% compared to the same quarter last year. On average, analysts predict that Simon Property Group will post $9.63 earnings per share for the current fiscal year.
The company also recently declared a quarterly dividend, which is scheduled for Friday, May 30th. Stockholders of record on Friday, May 16th will be given a dividend of $1.30 per share. This represents a $5.20 dividend on an annualized basis and a yield of 3.05%. The ex-dividend date of this dividend is Wednesday, May 14th. This is a boost from Simon Property Group’s previous quarterly dividend of $1.25.
Simon Property Group, Inc(NYSE:SPG) is a self-administered and self-managed real estate investment trust (REIT).
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