Simon Property Group, Inc. (NYSE:SPG) was downgraded by analysts at BidaskClub from a “hold” rating to a “sell” rating in a report released on Wednesday.

A number of other brokerages have also weighed in on SPG. Barclays PLC decreased their price target on shares of Simon Property Group from $206.00 to $200.00 and set an “overweight” rating on the stock in a report on Wednesday, April 19th. Vetr lowered shares of Simon Property Group from a “strong-buy” rating to a “buy” rating and set a $186.15 price target on the stock. in a report on Tuesday, May 2nd. Boenning Scattergood set a $240.00 price target on shares of Simon Property Group and gave the company a “buy” rating in a report on Wednesday, August 2nd. Argus decreased their price target on shares of Simon Property Group from $225.00 to $210.00 and set a “buy” rating on the stock in a report on Thursday, June 29th. Finally, Jefferies Group LLC reiterated a “buy” rating and issued a $190.00 price target on shares of Simon Property Group in a report on Monday, July 17th. Two research analysts have rated the stock with a sell rating, six have given a hold rating and eleven have given a buy rating to the company’s stock. The company has an average rating of “Hold” and a consensus target price of $195.01.

Simon Property Group (NYSE:SPG) traded up 0.34% during mid-day trading on Wednesday, hitting $158.03. The stock had a trading volume of 526,516 shares. The company has a 50 day moving average price of $160.79 and a 200-day moving average price of $166.68. The company has a market cap of $49.12 billion, a price-to-earnings ratio of 28.16 and a beta of 0.58. Simon Property Group has a one year low of $150.15 and a one year high of $219.41.

Simon Property Group (NYSE:SPG) last announced its quarterly earnings results on Tuesday, August 1st. The real estate investment trust reported $2.47 earnings per share for the quarter, beating the Zacks’ consensus estimate of $2.44 by $0.03. The company had revenue of $1.36 billion for the quarter, compared to analyst estimates of $1.37 billion. Simon Property Group had a net margin of 32.07% and a return on equity of 39.29%. Simon Property Group’s revenue for the quarter was up 3.5% on a year-over-year basis. During the same quarter last year, the business earned $2.63 EPS. Equities analysts expect that Simon Property Group will post $6.43 earnings per share for the current fiscal year.

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A number of large investors have recently added to or reduced their stakes in the company. Farmers & Merchants Investments Inc. increased its stake in Simon Property Group by 8.4% in the first quarter. Farmers & Merchants Investments Inc. now owns 643 shares of the real estate investment trust’s stock valued at $111,000 after buying an additional 50 shares during the period. Norway Savings Bank increased its stake in Simon Property Group by 19.5% in the second quarter. Norway Savings Bank now owns 765 shares of the real estate investment trust’s stock valued at $124,000 after buying an additional 125 shares during the last quarter. Bronfman E.L. Rothschild L.P. increased its stake in Simon Property Group by 27.3% in the second quarter. Bronfman E.L. Rothschild L.P. now owns 787 shares of the real estate investment trust’s stock valued at $127,000 after buying an additional 169 shares during the last quarter. Alpha Windward LLC increased its stake in Simon Property Group by 4.1% in the first quarter. Alpha Windward LLC now owns 763 shares of the real estate investment trust’s stock valued at $131,000 after buying an additional 30 shares during the last quarter. Finally, Rockefeller Financial Services Inc. bought a new stake in Simon Property Group during the first quarter valued at $138,000. 95.77% of the stock is currently owned by hedge funds and other institutional investors.

About Simon Property Group

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.

Analyst Recommendations for Simon Property Group (NYSE:SPG)

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