Barclays Increases Simon Property Group Price Target to $199.00 (SPG)
Barclays raised their price target on shares of Simon Property Group (NYSE:SPG) from $185.00 to $199.00 in a research note issued on Monday. The firm currently has an “overweight” rating on the stock. Barclays’ target price indicates a potential upside of 16.35% from the company’s current price.
SPG has been the subject of a number of other recent research reports. Analysts at Jefferies Group cut their price target on shares of Simon Property Group from $200.00 to $190.00 in a research note on Wednesday, June 25th. Separately, analysts at Cowen and Company cut their price target on shares of Simon Property Group from $196.00 to $189.00 in a research note on Monday, June 9th. Finally, analysts at Zacks reiterated a “neutral” rating on shares of Simon Property Group in a research note on Tuesday, June 3rd. They now have a $175.00 price target on the stock. Four investment analysts have rated the stock with a hold rating and ten have issued a buy rating to the company’s stock. Simon Property Group has a consensus rating of “Buy” and a consensus target price of $186.21.
Shares of Simon Property Group (NYSE:SPG) traded down 0.36% during mid-day trading on Monday, hitting $170.41. The stock had a trading volume of 912,659 shares. Simon Property Group has a one year low of $134.026 and a one year high of $171.27. The stock has a 50-day moving average of $167.0 and a 200-day moving average of $157.2. The company has a market cap of $52.939 billion and a P/E ratio of 38.62.
Simon Property Group (NYSE:SPG) last issued its quarterly earnings data 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 $9.14 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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