Simon Property Group’s “Overweight” Rating Reaffirmed at Barclays (SPG)
Simon Property Group (NYSE:SPG)‘s stock had its “overweight” rating reiterated by analysts at Barclays in a research report issued to clients and investors on Monday. They currently have a $204.00 price target on the stock, up from their previous price target of $199.00. Barclays’ price objective would suggest a potential upside of 22.68% from the stock’s previous close.
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 $193.00 to $198.00 in a research note on Monday, August 4th. 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. One equities research analyst has rated the stock with a sell rating, three have given a hold rating and eleven have issued a buy rating to the company. The stock presently has an average rating of “Buy” and an average price target of $187.71.
Simon Property Group (NYSE:SPG) traded up 1.11% during mid-day trading on Monday, hitting $168.13. 312,324 shares of the company’s stock traded hands. Simon Property Group has a one year low of $134.026 and a one year high of $172.72. The stock’s 50-day moving average is $168.1 and its 200-day moving average is $159.5. The company has a market cap of $52.249 billion and a price-to-earnings ratio of 36.06.
Simon Property Group (NYSE:SPG) last released its earnings data on Wednesday, July 23rd. The company reported $2.16 EPS for the quarter, beating the Thomson Reuters 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 prior year, the company posted $2.11 earnings per share. The company’s quarterly revenue 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 announced a quarterly dividend, which is scheduled for Friday, August 29th. Shareholders 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 3.13%. The ex-dividend date is Wednesday, August 13th. This is a positive change from Simon Property Group’s previous quarterly dividend of $1.22.
Simon Property Group, Inc(NYSE:SPG), is a self-administered and self-managed real estate investment trust (REIT).
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