Simon Property Group, Inc. (NYSE:SPG) has been assigned a $175.00 price target by equities research analysts at BMO Capital Markets in a research note issued to investors on Friday. The brokerage currently has a “buy” rating on the real estate investment trust’s stock. BMO Capital Markets’ target price points to a potential upside of 11.71% from the stock’s current price.

A number of other equities research analysts have also recently weighed in on SPG. Argus cut their price target on Simon Property Group from $225.00 to $210.00 and set a “buy” rating on the stock in a report on Thursday, June 29th. Zacks Investment Research cut Simon Property Group from a “hold” rating to a “sell” rating in a report on Tuesday, July 11th. Stifel Nicolaus initiated coverage on Simon Property Group in a report on Friday, July 14th. They set a “hold” rating and a $170.00 price target on the stock. BidaskClub raised Simon Property Group from a “strong sell” rating to a “sell” rating in a report on Sunday, July 16th. Finally, Jefferies Group LLC reissued a “buy” rating and set a $190.00 target price on shares of Simon Property Group in a report on Monday, July 17th. One investment analyst has rated the stock with a sell rating, six have issued a hold rating and thirteen have issued a buy rating to the stock. The stock has an average rating of “Buy” and an average price target of $193.07.

Simon Property Group (SPG) traded down 4.34% during trading on Friday, reaching $156.66. The company’s stock had a trading volume of 3,493,759 shares. The stock has a market capitalization of $48.70 billion, a price-to-earnings ratio of 27.92 and a beta of 0.60. Simon Property Group has a 52 week low of $150.15 and a 52 week high of $189.25. The firm has a 50 day moving average of $162.00 and a 200 day moving average of $161.17.

Simon Property Group (NYSE:SPG) last released its quarterly earnings results on Friday, October 27th. The real estate investment trust reported $2.89 earnings per share for the quarter, beating the Zacks’ consensus estimate of $1.62 by $1.27. The company had revenue of $1.40 billion for the quarter, compared to analysts’ expectations of $1.39 billion. Simon Property Group had a return on equity of 39.29% and a net margin of 32.07%. The business’s revenue for the quarter was up 3.4% compared to the same quarter last year. During the same quarter in the previous year, the company posted $2.70 earnings per share. Analysts expect that Simon Property Group will post $6.35 EPS for the current year.

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Institutional investors have recently bought and sold shares of the business. Financial Management Professionals Inc. grew its position in Simon Property Group by 14.2% during the 2nd quarter. Financial Management Professionals Inc. now owns 475 shares of the real estate investment trust’s stock worth $102,000 after purchasing an additional 59 shares in the last quarter. Arcadia Investment Management Corp MI grew its position in Simon Property Group by 531.3% during the 2nd quarter. Arcadia Investment Management Corp MI now owns 505 shares of the real estate investment trust’s stock worth $110,000 after purchasing an additional 425 shares in the last quarter. Reilly Financial Advisors LLC grew its position in Simon Property Group by 3.3% during the 2nd quarter. Reilly Financial Advisors LLC now owns 506 shares of the real estate investment trust’s stock worth $110,000 after purchasing an additional 16 shares in the last quarter. Norway Savings Bank grew its position in Simon Property Group by 75.3% during the 1st quarter. Norway Savings Bank now owns 640 shares of the real estate investment trust’s stock worth $110,000 after purchasing an additional 275 shares in the last quarter. Finally, Farmers & Merchants Investments Inc. grew its position in Simon Property Group by 8.4% during the 1st quarter. Farmers & Merchants Investments Inc. now owns 643 shares of the real estate investment trust’s stock worth $111,000 after purchasing an additional 50 shares in the last quarter. Hedge funds and other institutional investors own 94.75% 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.

Analyst Recommendations for Simon Property Group (NYSE:SPG)

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