Simon Property Group, Inc. (NYSE:SPG)‘s stock had its “hold” rating reissued by research analysts at Royal Bank Of Canada in a report released on Thursday. They presently have a $176.00 price target on the real estate investment trust’s stock. Royal Bank Of Canada’s target price points to a potential upside of 13.31% from the stock’s previous close.

Several other research firms have also commented on SPG. Stifel Nicolaus reaffirmed a “hold” rating and set a $170.00 target price on shares of Simon Property Group in a report on Thursday, October 12th. Boenning Scattergood set a $240.00 target price on Simon Property Group and gave the stock a “buy” rating in a report on Wednesday, August 2nd. Barclays PLC raised their target price on Simon Property Group from $188.00 to $190.00 and gave the stock an “overweight” rating in a report on Tuesday, August 8th. Zacks Investment Research raised Simon Property Group from a “hold” rating to a “buy” rating and set a $182.00 target price on the stock in a report on Wednesday, October 11th. Finally, Jefferies Group LLC reaffirmed a “buy” rating and set a $190.00 target price on shares of Simon Property Group in a report on Monday, July 17th. One research analyst has rated the stock with a sell rating, seven have issued a hold rating and twelve have given a buy rating to the stock. The company presently has an average rating of “Buy” and a consensus target price of $191.45.

Simon Property Group (NYSE:SPG) last posted its earnings results on Friday, October 27th. The real estate investment trust reported $2.89 EPS for the quarter, topping the consensus estimate of $2.88 by $0.01. The firm had revenue of $1.40 billion for the quarter, compared to analyst estimates of $1.39 billion. Simon Property Group had a return on equity of 41.85% and a net margin of 31.96%. Simon Property Group’s revenue for the quarter was up 3.4% compared to the same quarter last year. During the same period last year, the company earned $2.70 earnings per share.

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Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Financial Management Professionals Inc. grew its holdings in shares of Simon Property Group by 14.2% in the 2nd quarter. Financial Management Professionals Inc. now owns 475 shares of the real estate investment trust’s stock worth $102,000 after acquiring an additional 59 shares during the period. Arcadia Investment Management Corp MI grew its holdings in shares of Simon Property Group by 531.3% in the 2nd quarter. Arcadia Investment Management Corp MI now owns 505 shares of the real estate investment trust’s stock worth $110,000 after acquiring an additional 425 shares during the period. Reilly Financial Advisors LLC grew its holdings in shares of Simon Property Group by 3.3% in the 2nd quarter. Reilly Financial Advisors LLC now owns 506 shares of the real estate investment trust’s stock worth $110,000 after acquiring an additional 16 shares during the period. Norway Savings Bank grew its holdings in shares of Simon Property Group by 75.3% in the 1st quarter. Norway Savings Bank now owns 640 shares of the real estate investment trust’s stock worth $110,000 after acquiring an additional 275 shares during the period. Finally, Farmers & Merchants Investments Inc. grew its holdings in shares of Simon Property Group by 8.4% in the 1st quarter. Farmers & Merchants Investments Inc. now owns 643 shares of the real estate investment trust’s stock worth $111,000 after acquiring an additional 50 shares during the period. Institutional investors and hedge funds own 95.10% 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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