Several analysts have recently updated their ratings and price targets for Simon Property Group (NYSE: SPG):

  • 7/17/2017 – Simon Property Group had its “buy” rating reaffirmed by analysts at Jefferies Group LLC. They now have a $190.00 price target on the stock.
  • 7/16/2017 – Simon Property Group was upgraded by analysts at BidaskClub from a “strong sell” rating to a “sell” rating.
  • 7/14/2017 – Simon Property Group is now covered by analysts at Stifel Nicolaus. They set a “hold” rating and a $170.00 price target on the stock.
  • 7/11/2017 – Simon Property Group was downgraded by analysts at Zacks Investment Research from a “hold” rating to a “sell” rating. According to Zacks, “Shares of Simon Property underperformed the Zacks categorized REIT and Equity Trust – Retail industry over the past three months. Also, the company’s second-quarter and full-year 2017 funds from operations (FFO) per share estimates moved south over the past 30 days. Notably, mall traffic has continued to suffer amid a rapid shift in customers’ shopping preferences and patterns with online purchases growing by leaps and bounds, leading retailers to reconsider their footprint and eventually opt for store closures. Further, retailers that are not being able to cope with competition are filing bankruptcies. While Simon Property is striving to counter the pressure through various initiatives, the implementation of such measures requires a decent upfront cost and therefore, would limit any robust growth in its profit margins in the near term. Also, rate hike have added to its woes.”
  • 6/29/2017 – Simon Property Group had its price target lowered by analysts at Argus from $225.00 to $210.00. They now have a “buy” rating on the stock.
  • 6/22/2017 – Simon Property Group was upgraded by analysts at Zacks Investment Research from a “sell” rating to a “hold” rating. According to Zacks, “Shares of Simon Property underperformed the Zacks categorized REIT and Equity Trust – Retail industry over the past three months. However, the company’s second-quarter and full-year 2017 funds from operations (FFO) per share estimates moved north over the past seven days. Recently, the company disclosed the continuation of the enhancements at the Southdale Center in Edina with the beginning of the construction on Homewood Suites by Hilton. Also, the company joined forces with health and lifestyle company, Life Time, for changing consumer experience at Southdale, with a planned athletic resort. Such efforts come at a point when mall traffic is facing challenges due to a change in shopping patterns, with online shopping taking precedence over in-store purchase. However, such steps require decent upfront costs. So margin expansion is likely to remain limited in the near term. Also, rate hike have added to its woes.”
  • 6/20/2017 – Simon Property Group was upgraded by analysts at Goldman Sachs Group, Inc. (The) from a “neutral” rating to a “buy” rating. They now have a $185.00 price target on the stock, up previously from $175.00.
  • 6/14/2017 – Simon Property Group was downgraded by analysts at Zacks Investment Research from a “hold” rating to a “sell” rating. According to Zacks, “Shares of Simon Property underperformed the Zacks categorized REIT and Equity Trust – Retail industry over the last six months. Also, its second-quarter and full-year 2017 FFO per share estimates moved south over the past 30 days. Admittedly, increasing consumer purchases through the Internet has emerged as a pressing concern as it curtails the demand for retail real estate space, in turn, affecting occupancy and rent growth. But, recently, the company joined forces with health and lifestyle company, Life Time, for changing consumer experience at Southdale Center in Edina, with a planned athletic resort. Also, it intends to spend around $1 billion each in 2017 and 2018. While the company is striving to counter pressure from online sales through various efforts, the implementation of such moves requires a decent upfront cost and therefore, would limit any robust growth in its profit margins in the near term. Also, rate hike add to its woes.”
  • 6/3/2017 – Simon Property Group had its “equal weight” rating reaffirmed by analysts at Morgan Stanley. They now have a $158.00 price target on the stock, down previously from $180.00.
  • 6/2/2017 – Simon Property Group was downgraded by analysts at ValuEngine from a “buy” rating to a “hold” rating.
  • 5/30/2017 – Simon Property Group was upgraded by analysts at Mizuho from a “neutral” rating to a “buy” rating. They now have a $178.00 price target on the stock.
  • 5/22/2017 – Simon Property Group had its price target raised by analysts at Deutsche Bank AG from $188.00 to $191.00. They now have a “hold” rating on the stock.

Shares of Simon Property Group, Inc. (NYSE:SPG) opened at 162.13 on Tuesday. The company’s 50-day moving average is $157.68 and its 200 day moving average is $171.65. The company has a market cap of $50.62 billion, a PE ratio of 27.74 and a beta of 0.58. Simon Property Group, Inc. has a 52-week low of $150.15 and a 52-week high of $229.10.

Simon Property Group (NYSE:SPG) last released its earnings results on Thursday, April 27th. The real estate investment trust reported $2.74 earnings per share for the quarter, missing the Zacks’ consensus estimate of $2.76 by $0.02. The firm had revenue of $1.35 billion during the quarter, compared to the consensus estimate of $1.36 billion. Simon Property Group had a return on equity of 40.16% and a net margin of 34.99%. The business’s quarterly revenue was up .7% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $2.63 EPS. On average, analysts anticipate that Simon Property Group, Inc. will post $6.34 EPS for the current year.

Simon Property Group, Inc is a self-administered and self-managed real estate investment trust (REIT). The Company owns, develops and manages retail real estate properties, which consist primarily of malls, Premium Outlets and The Mills. Simon Property Group, L.P. (Operating Partnership), is the Company’s partnership subsidiary that owns all of its real estate properties and other assets.

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