Simon Property Group Stock Rating Reaffirmed by Credit Suisse (SPG)
Simon Property Group (NYSE:SPG)‘s stock had its “neutral” rating restated by stock analysts at Credit Suisse in a report issued on Thursday. They currently have a $180.00 price objective on the stock, up from their previous price objective of $170.00. Credit Suisse’s target price would indicate a potential upside of 5.62% from the company’s current price.
Shares of Simon Property Group (NYSE:SPG) traded down 0.04% during mid-day trading on Thursday, hitting $170.36. The stock had a trading volume of 486,524 shares. Simon Property Group has a 1-year low of $134.026 and a 1-year high of $172.72. The stock’s 50-day moving average is $167. and its 200-day moving average is $157.8. The company has a market cap of $52.924 billion and a price-to-earnings ratio of 38.48.
Simon Property Group (NYSE:SPG) last announced its earnings results on Wednesday, July 23rd. The company reported $2.16 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.13 by $0.03. The company had revenue of $1.18 billion for the quarter, compared to the consensus estimate of $1.25 billion. During the same quarter in the previous year, the company posted $2.11 earnings per share. The company’s revenue for the quarter was up 8.9% on a year-over-year basis. On average, analysts predict that Simon Property Group will post $9.15 earnings per share for the current fiscal year.
The company also recently declared a quarterly dividend, which is scheduled for Friday, August 29th. Investors of record on Friday, August 15th 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%.
A number of other analysts have also recently weighed in on SPG. Analysts at Jefferies Group raised their price target on shares of Simon Property Group from $190.00 to $193.00 in a research note on Tuesday. Separately, analysts at Barclays raised their price target on shares of Simon Property Group from $185.00 to $199.00 in a research note on Monday. They now have an “overweight” rating on the stock. Four analysts have rated the stock with a hold rating and ten have assigned a buy rating to the stock. The company presently has a consensus rating of “Buy” and an average target price of $187.50.
Simon Property Group, Inc(NYSE:SPG), is a self-administered and self-managed real estate investment trust (REIT).
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