Simon Property Group Receives Average Rating of “Buy” from Analysts (NYSE:SPG)
Shares of Simon Property Group (NYSE:SPG) have been given an average recommendation of “Buy” by the sixteen analysts that are presently covering the stock, AR Network reports. One equities research analyst has rated the stock with a sell recommendation, three have given a hold recommendation and eleven have issued a buy recommendation on the company. The average 1-year target price among brokers that have issued ratings on the stock in the last year is $187.36.
Simon Property Group (NYSE:SPG) opened at 165.27 on Monday. Simon Property Group has a one year low of $134.026 and a one year high of $172.72. The stock has a 50-day moving average of $168.1 and a 200-day moving average of $159.. The company has a market cap of $51.360 billion and a price-to-earnings ratio of 35.86.
Simon Property Group (NYSE:SPG) last released its earnings data 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 $9.18 earnings per share for the current fiscal year.
The company also recently declared a quarterly dividend, which is scheduled for Friday, August 29th. Shareholders 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 3.15%. The ex-dividend date of this dividend is Wednesday, August 13th. This is a positive change from Simon Property Group’s previous quarterly dividend of $1.22.
A number of analysts have recently weighed in on SPG shares. Analysts at Jefferies Group raised their price target on shares of Simon Property Group from $193.00 to $198.00 in a research note on Monday. They now have a “buy” rating on the stock. 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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