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Simon Property Group (NYSE:SPG)‘s stock had its “neutral” rating reaffirmed by Zacks in a research report issued on Tuesday. They currently have a $175.00 price objective on the stock. Zacks‘s price objective indicates a potential upside of 5.50% from the company’s current price.

Zacks’ analyst wrote, “Continuing with its winning streak, Simon Property posted encouraging results for the first quarter of 2014. Driven by revenue and occupancy gains, the company’s FFO per share substantially surpassed the Zacks Consensus Estimate and the prior-year quarter figure. Also, the hike in its quarterly dividend increase investors’ confidence. Recently, the company accomplished the spin off of Washington Prime Group, and has cut its outlook for full-year 2014. While the spin-off move comes with an upfront cost for Simon Property, we believe that the company can now increase utilization of resources for expanding its global portfolio of larger malls, mills and premium outlets and effectively leverage on the improving spending habits of wealthier customers with the economy showing signs of recovery. Also, the company’s ongoing efforts to enhance customers shopping experience are expected to increase footfalls at its properties but a significant redevelopment pipeline increases its operational risks.”

Other equities research analysts have also recently issued reports about the stock. Analysts at Stifel Nicolaus raised their price target on shares of Simon Property Group from $180.00 to $185.00 in a research note on Monday. They now have a “buy” rating on the stock. Separately, analysts at Goldman Sachs cut their price target on shares of Simon Property Group from $229.00 to $214.00 in a research note on Friday. They now have a “buy” rating on the stock. Finally, analysts at Deutsche Bank cut their price target on shares of Simon Property Group from $192.00 to $182.00 in a research note on Friday. They now have a “buy” rating on the stock. Four analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the stock. The company has a consensus rating of “Buy” and an average price target of $187.00.

Simon Property Group (NYSE:SPG) traded down 0.56% during mid-day trading on Tuesday, hitting $165.87. The stock had a trading volume of 1,072,763 shares. Simon Property Group has a 52-week low of $134.026 and a 52-week high of $166.93. The stock has a 50-day moving average of $163.5 and a 200-day moving average of $151.8. The company has a market cap of $51.529 billion and a price-to-earnings ratio of 37.66.

Simon Property Group (NYSE:SPG) last posted its quarterly earnings results on Tuesday, April 22nd. The company reported $2.38 EPS for the quarter, beating the Thomson Reuters 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 in the prior year, the company posted $2.05 earnings per share. The company’s quarterly revenue was up 8.2% on a year-over-year basis. On average, analysts predict that Simon Property Group will post $9.41 earnings per share for the current fiscal year.

Simon Property Group, Inc(NYSE:SPG), is a self-administered and self-managed real estate investment trust (REIT).

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