Simon Property Group, Inc. (NYSE:SPG) Receives New Coverage from Analysts at BMO Capital Markets

Equities research analysts at BMO Capital Markets began coverage on shares of Simon Property Group, Inc. (NYSE:SPG) in a report released on Monday, September 11th, MarketBeat reports. The brokerage set an “outperform” rating and a $175.00 price target on the real estate investment trust’s stock. BMO Capital Markets’ target price would suggest a potential upside of 9.66% from the company’s current price.

SPG has been the topic of several other reports. Argus lowered 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. Morgan Stanley reissued an “equal weight” rating and set a $158.00 price target (down from $180.00) on shares of Simon Property Group in a report on Saturday, June 3rd. Zacks Investment Research cut Simon Property Group from a “hold” rating to a “sell” rating in a report on Wednesday, June 14th. Boenning Scattergood set a $240.00 price target on Simon Property Group and gave the company a “buy” rating in a report on Wednesday, August 2nd. Finally, Stifel Nicolaus set a $170.00 price target on Simon Property Group and gave the company a “hold” rating in a report on Sunday, August 27th. Two equities research analysts have rated the stock with a sell rating, six have issued a hold rating and twelve have assigned a buy rating to the stock. The stock presently has an average rating of “Buy” and an average price target of $193.76.

Simon Property Group (NYSE:SPG) traded down 0.1803% during mid-day trading on Monday, reaching $159.2922. The company’s stock had a trading volume of 309,954 shares. The firm has a market cap of $49.51 billion, a PE ratio of 28.3893 and a beta of 0.58. The company has a 50-day moving average price of $159.49 and a 200-day moving average price of $162.53. Simon Property Group has a 12-month low of $150.15 and a 12-month high of $215.56.

Simon Property Group (NYSE:SPG) last released its quarterly earnings results on Tuesday, August 1st. The real estate investment trust reported $2.47 earnings per share for the quarter, beating the consensus estimate of $2.44 by $0.03. The firm had revenue of $1.36 billion for the quarter, compared to analysts’ expectations of $1.37 billion. Simon Property Group had a return on equity of 39.29% and a net margin of 32.07%. The company’s revenue was up 3.5% compared to the same quarter last year. During the same period in the prior year, the firm earned $2.63 EPS. On average, equities research analysts expect that Simon Property Group will post $6.35 earnings per share for the current year.

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A number of hedge funds have recently modified their holdings of SPG. Comerica Bank increased its stake in Simon Property Group by 4.4% in the 1st quarter. Comerica Bank now owns 104,230 shares of the real estate investment trust’s stock worth $17,497,000 after buying an additional 4,417 shares in the last quarter. Xact Kapitalforvaltning AB increased its stake in Simon Property Group by 3.0% in the 1st quarter. Xact Kapitalforvaltning AB now owns 43,771 shares of the real estate investment trust’s stock worth $7,530,000 after buying an additional 1,290 shares in the last quarter. Pictet Asset Management Ltd. increased its stake in Simon Property Group by 3.4% in the 1st quarter. Pictet Asset Management Ltd. now owns 230,417 shares of the real estate investment trust’s stock worth $39,639,000 after buying an additional 7,600 shares in the last quarter. LS Investment Advisors LLC increased its stake in Simon Property Group by 1.3% in the 1st quarter. LS Investment Advisors LLC now owns 15,946 shares of the real estate investment trust’s stock worth $2,743,000 after buying an additional 208 shares in the last quarter. Finally, Swiss National Bank increased its stake in Simon Property Group by 24.1% in the 1st quarter. Swiss National Bank now owns 1,275,798 shares of the real estate investment trust’s stock worth $219,476,000 after buying an additional 247,900 shares in the last quarter. Institutional investors and hedge funds own 94.93% of the company’s stock.

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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