Simon Property Group, Inc. (NYSE:SPG) has been given a $240.00 price objective by equities researchers at Boenning Scattergood in a research report issued on Monday. The firm currently has a “buy” rating on the real estate investment trust’s stock. Boenning Scattergood’s price target suggests a potential upside of 54.51% from the stock’s previous close.
The analysts wrote, “We believe, in the current environment, even moderate share repurchases could help to assuage some of these concerns while demonstrating management’s commitment to the value proposition of its stock.””
A number of other equities research analysts also recently commented on the company. BMO Capital Markets set a $175.00 price objective on Simon Property Group and gave the company a “buy” rating in a report on Friday, October 27th. Stifel Nicolaus reiterated a “hold” rating and issued a $170.00 price objective on shares of Simon Property Group in a report on Thursday, October 12th. Zacks Investment Research upgraded Simon Property Group from a “hold” rating to a “buy” rating and set a $182.00 price objective for the company in a report on Wednesday, October 11th. Jefferies Group LLC reiterated a “buy” rating and issued a $200.00 price objective (up previously from $198.00) on shares of Simon Property Group in a report on Thursday, August 24th. Finally, Argus dropped their price objective on Simon Property Group from $210.00 to $200.00 and set a “buy” rating for the company in a report on Tuesday, August 22nd. One investment analyst has rated the stock with a sell rating, seven have issued a hold rating and twelve have assigned a buy rating to the stock. The stock currently has a consensus rating of “Buy” and an average price target of $191.79.
Simon Property Group (SPG) opened at 155.33 on Monday. The company has a 50 day moving average price of $161.84 and a 200-day moving average price of $160.75. Simon Property Group has a 52-week low of $150.15 and a 52-week high of $189.25. The firm has a market cap of $48.28 billion, a price-to-earnings ratio of 27.68 and a beta of 0.60.
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 for the quarter, topping analysts’ consensus estimates of $2.88 by $0.01. The company had revenue of $1.40 billion during the quarter, compared to the consensus estimate of $1.39 billion. Simon Property Group had a return on equity of 41.85% and a net margin of 31.96%. The firm’s quarterly revenue was up 3.4% on a year-over-year basis. During the same quarter in the previous year, the company posted $2.70 earnings per share. Equities research analysts anticipate that Simon Property Group will post $6.35 EPS for the current year.
Institutional investors have recently made changes to their positions in the business. Norway Savings Bank increased its holdings in shares of 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 worth $124,000 after acquiring an additional 125 shares in the last quarter. Bronfman E.L. Rothschild L.P. boosted its position in shares of Simon Property Group by 27.3% during the second quarter. Bronfman E.L. Rothschild L.P. now owns 787 shares of the real estate investment trust’s stock worth $127,000 after buying an additional 169 shares during the period. Alpha Windward LLC boosted its position in shares of Simon Property Group by 12.2% during the second quarter. Alpha Windward LLC now owns 856 shares of the real estate investment trust’s stock worth $138,000 after buying an additional 93 shares during the period. IHT Wealth Management LLC boosted its position in shares of Simon Property Group by 5.3% during the first quarter. IHT Wealth Management LLC now owns 911 shares of the real estate investment trust’s stock worth $155,000 after buying an additional 46 shares during the period. Finally, Highstreet Asset Management Inc. acquired a new position in shares of Simon Property Group during the second quarter worth about $157,000. Institutional investors 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.
What are top analysts saying about Simon Property Group Inc.? - Enter your email address in the form below to receive our free daily email newsletter that contains the latest headlines and analysts' recommendations for for Simon Property Group Inc. and related companies.