Simon Property Group, Inc. (NYSE:SPG) PT Lowered to $188.00
Simon Property Group, Inc. (NYSE:SPG) had its target price cut by research analysts at Barclays PLC from $191.00 to $188.00 in a research note issued to investors on Tuesday. The firm presently has an “overweight” rating on the real estate investment trust’s stock. Barclays PLC’s price objective would indicate a potential upside of 15.96% from the company’s previous close.
A number of other analysts have also recently weighed in on SPG. Jefferies Group LLC reissued a “buy” rating and issued a $190.00 price objective on shares of Simon Property Group in a research report on Monday. Stifel Nicolaus assumed coverage on Simon Property Group in a research report on Friday. They issued a “hold” rating and a $170.00 price objective for the company. BidaskClub raised Simon Property Group from a “strong sell” rating to a “sell” rating in a research report on Sunday. Zacks Investment Research cut Simon Property Group from a “hold” rating to a “sell” rating in a research report on Tuesday, July 11th. Finally, Argus lowered their price objective on Simon Property Group from $225.00 to $210.00 and set a “buy” rating for the company in a research report on Thursday, June 29th. Two research analysts have rated the stock with a sell rating, six have assigned a hold rating and ten have issued a buy rating to the company’s stock. The company currently has an average rating of “Hold” and a consensus price target of $191.65.
Simon Property Group (NYSE SPG) traded down 0.93% during midday trading on Tuesday, reaching $160.63. The company’s stock had a trading volume of 608,268 shares. Simon Property Group has a 12-month low of $150.15 and a 12-month high of $229.10. The company has a market cap of $50.15 billion, a P/E ratio of 27.49 and a beta of 0.58. The firm has a 50 day moving average price of $157.68 and a 200-day moving average price of $171.65.
Simon Property Group (NYSE:SPG) last announced its quarterly earnings results on Thursday, April 27th. The real estate investment trust reported $2.74 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $2.76 by $0.02. The company had revenue of $1.35 billion during the quarter, compared to analysts’ expectations of $1.36 billion. Simon Property Group had a net margin of 34.99% and a return on equity of 40.16%. The company’s revenue was up .7% compared to the same quarter last year. During the same quarter in the prior year, the business posted $2.63 earnings per share. On average, equities research analysts predict that Simon Property Group will post $6.34 earnings per share for the current fiscal year.
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Large investors have recently bought and sold shares of the company. Brookfield Asset Management Inc. raised its stake in Simon Property Group by 28.0% in the fourth quarter. Brookfield Asset Management Inc. now owns 2,264,105 shares of the real estate investment trust’s stock valued at $402,264,000 after buying an additional 495,300 shares during the period. Chilton Capital Management LLC boosted its position in shares of Simon Property Group by 11.2% in the first quarter. Chilton Capital Management LLC now owns 199,521 shares of the real estate investment trust’s stock valued at $41,439,000 after buying an additional 20,152 shares in the last quarter. Waratah Capital Advisors Ltd. bought a new position in shares of Simon Property Group during the fourth quarter valued at $7,240,000. Bridgewater Associates LP bought a new position in shares of Simon Property Group during the fourth quarter valued at $2,303,000. Finally, Commerzbank Aktiengesellschaft FI boosted its position in shares of Simon Property Group by 167.4% in the fourth quarter. Commerzbank Aktiengesellschaft FI now owns 4,685 shares of the real estate investment trust’s stock valued at $832,000 after buying an additional 2,933 shares in the last quarter. Institutional investors own 95.07% of the company’s stock.
Simon Property Group Company Profile
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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