Simon Property Group Receives Consensus Recommendation of “Buy” from Brokerages (NYSE:SPG)
Shares of Simon Property Group (NYSE:SPG) have received an average rating of “Buy” from the sixteen brokerages that are covering the stock, StockRatingsNetwork.com reports. One equities research analyst has rated the stock with a sell rating, three have given a hold rating and ten have given a buy rating to the company. The average 12-month price target among brokers that have issued a report on the stock in the last year is $187.36.
Shares of Simon Property Group (NYSE:SPG) opened at 167.67 on Monday. 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 $167.8 and its 200-day moving average is $158.8. The company has a market cap of $52.106 billion and a P/E ratio of 36.37.
Simon Property Group (NYSE:SPG) last announced its earnings results on Wednesday, July 23rd. The company reported $2.16 earnings per share for the quarter, beating the analysts’ 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 last year, the company posted $2.11 earnings per share. Simon Property Group’s revenue was up 8.9% compared to the same quarter last year. Analysts expect that Simon Property Group will post $9.18 EPS for the current fiscal year.
The company also recently announced a quarterly dividend, which is scheduled for Friday, August 29th. Investors of record on Friday, August 15th will be paid a dividend of $1.30 per share. This represents a $5.20 annualized dividend and a dividend yield of 3.10%. The ex-dividend date is Wednesday, August 13th. This is an increase from Simon Property Group’s previous quarterly dividend of $1.22.
Several analysts have recently commented on the stock. Analysts at Jefferies Group raised their price target on shares of Simon Property Group to $198.00 in a research note on Monday. Separately, analysts at Citigroup Inc. reiterated a “buy” rating on shares of Simon Property Group in a research note on Tuesday, July 29th. They now have a $192.00 price target on the stock, up previously from $182.00. Finally, analysts at MLV & Co
raised their price target on shares of Simon Property Group from $178.00 to $186.00 in a research note on Tuesday, July 29th. They now have a “hold” rating on the stock.
Simon Property Group, Inc(NYSE:SPG), is a self-administered and self-managed real estate investment trust (REIT).
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