Simon Property Group Inc (NYSE:SPG) has earned a consensus recommendation of “Buy” from the twenty-one ratings firms that are covering the company, MarketBeat.com reports. Two investment analysts have rated the stock with a sell recommendation, six have issued a hold recommendation and thirteen have given a buy recommendation to the company. The average 1-year price objective among brokerages that have issued a report on the stock in the last year is $191.62.

SPG has been the topic of several research analyst reports. Zacks Investment Research raised shares of Simon Property Group from a “hold” rating to a “buy” rating and set a $182.00 target price on the stock in a research report on Wednesday, October 11th. BMO Capital Markets set a $175.00 target price on shares of Simon Property Group and gave the stock a “buy” rating in a research report on Friday, October 27th. Boenning Scattergood set a $240.00 target price on shares of Simon Property Group and gave the stock a “buy” rating in a research report on Monday, October 30th. Argus decreased their target price on shares of Simon Property Group from $200.00 to $195.00 and set a “buy” rating on the stock in a research report on Tuesday, October 31st. Finally, Royal Bank of Canada reissued a “hold” rating and issued a $176.00 target price on shares of Simon Property Group in a research report on Thursday, November 2nd.

Simon Property Group (NYSE:SPG) traded up $0.68 on Monday, hitting $165.51. 1,238,600 shares of the company traded hands, compared to its average volume of 1,694,044. The company has a debt-to-equity ratio of 5.57, a current ratio of 0.93 and a quick ratio of 0.93. Simon Property Group has a twelve month low of $150.15 and a twelve month high of $187.35. The firm has a market capitalization of $52,960.00, a PE ratio of 29.24, a PEG ratio of 2.07 and a beta of 0.62.

Simon Property Group (NYSE:SPG) last released its earnings results on Friday, October 27th. The real estate investment trust reported $2.89 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $2.88 by $0.01. Simon Property Group had a net margin of 31.96% and a return on equity of 41.85%. The business had revenue of $1.40 billion for the quarter, compared to analysts’ expectations of $1.39 billion. During the same period last year, the company earned $2.70 earnings per share. The company’s quarterly revenue was up 3.4% on a year-over-year basis. research analysts expect that Simon Property Group will post 11.21 earnings per share for the current year.

In other news, CAO Steven K. Broadwater sold 621 shares of Simon Property Group stock in a transaction that occurred on Saturday, December 29th. The shares were sold at an average price of $171.95, for a total transaction of $106,780.95. Following the sale, the chief accounting officer now owns 2,290 shares in the company, valued at $393,765.50. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Company insiders own 8.42% of the company’s stock.

Several large investors have recently modified their holdings of the stock. Nisa Investment Advisors LLC increased its stake in shares of Simon Property Group by 17.4% in the fourth quarter. Nisa Investment Advisors LLC now owns 115,761 shares of the real estate investment trust’s stock worth $19,881,000 after buying an additional 17,172 shares during the last quarter. Adams Asset Advisors LLC increased its stake in shares of Simon Property Group by 85.3% in the fourth quarter. Adams Asset Advisors LLC now owns 7,561 shares of the real estate investment trust’s stock worth $1,298,000 after buying an additional 3,480 shares during the last quarter. Winslow Asset Management Inc. increased its stake in shares of Simon Property Group by 0.8% in the fourth quarter. Winslow Asset Management Inc. now owns 50,298 shares of the real estate investment trust’s stock worth $8,638,000 after buying an additional 400 shares during the last quarter. First American Trust FSB increased its stake in shares of Simon Property Group by 20.6% in the fourth quarter. First American Trust FSB now owns 21,753 shares of the real estate investment trust’s stock worth $3,736,000 after buying an additional 3,711 shares during the last quarter. Finally, Bogart Wealth LLC increased its stake in shares of Simon Property Group by 26.5% in the fourth quarter. Bogart Wealth LLC now owns 9,582 shares of the real estate investment trust’s stock worth $1,646,000 after buying an additional 2,005 shares during the last quarter. Institutional investors and hedge funds own 47.52% of the company’s stock.

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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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