Simon Property Group, Inc. (SPG) Price Target Raised to $190.00 at Barclays PLC

Simon Property Group, Inc. (NYSE:SPG) had its price target raised by equities research analysts at Barclays PLC from $188.00 to $190.00 in a report released on Tuesday. The brokerage presently has an “overweight” rating on the real estate investment trust’s stock. Barclays PLC’s price target points to a potential upside of 15.79% from the company’s previous close.

Other analysts have also issued reports about the stock. Goldman Sachs Group, Inc. (The) upgraded shares of Simon Property Group from a “neutral” rating to a “buy” rating and raised their price target for the stock from $175.00 to $185.00 in a research report on Tuesday, June 20th. Argus decreased their price target on shares of Simon Property Group from $225.00 to $210.00 and set a “buy” rating on the stock in a research report on Thursday, June 29th. Vetr lowered shares of Simon Property Group from a “strong-buy” rating to a “buy” rating and set a $186.15 price target on the stock. in a research report on Tuesday, May 2nd. Jefferies Group LLC restated a “buy” rating and issued a $210.00 price target on shares of Simon Property Group in a research report on Monday, April 17th. Finally, Mizuho upgraded shares of Simon Property Group from a “neutral” rating to a “buy” rating and set a $178.00 price target on the stock in a research report on Tuesday, May 30th. One investment analyst has rated the stock with a sell rating, seven have given a hold rating and eleven have issued a buy rating to the stock. The company presently has an average rating of “Buy” and a consensus target price of $195.01.

Shares of Simon Property Group (NYSE:SPG) traded down 1.37% during midday trading on Tuesday, hitting $164.09. 1,387,796 shares of the stock were exchanged. Simon Property Group has a 12-month low of $150.15 and a 12-month high of $223.07. The stock’s 50 day moving average is $160.11 and its 200 day moving average is $168.14. The firm has a market cap of $51.01 billion, a P/E ratio of 29.24 and a beta of 0.58.

Simon Property Group (NYSE:SPG) last posted its quarterly earnings results on Tuesday, August 1st. The real estate investment trust reported $2.47 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.44 by $0.03. The company had revenue of $1.36 billion for the quarter, compared to analyst estimates of $1.37 billion. Simon Property Group had a net margin of 32.07% and a return on equity of 39.29%. The business’s quarterly revenue was up 3.5% on a year-over-year basis. During the same period last year, the business posted $2.63 EPS. On average, equities research analysts forecast that Simon Property Group will post $6.28 earnings per share for the current fiscal year.

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A number of institutional investors have recently made changes to their positions in the stock. Norway Savings Bank increased its position in shares of Simon Property Group by 75.3% in the first quarter. Norway Savings Bank now owns 640 shares of the real estate investment trust’s stock valued at $110,000 after buying an additional 275 shares in the last quarter. Farmers & Merchants Investments Inc. increased its position in shares of Simon Property Group by 8.4% in the first quarter. Farmers & Merchants Investments Inc. now owns 643 shares of the real estate investment trust’s stock valued at $111,000 after buying an additional 50 shares in the last quarter. Alpha Windward LLC increased its position in shares of Simon Property Group by 4.1% in the first quarter. Alpha Windward LLC now owns 763 shares of the real estate investment trust’s stock valued at $131,000 after buying an additional 30 shares in the last quarter. Rockefeller Financial Services Inc. purchased a new position in shares of Simon Property Group during the first quarter valued at about $138,000. Finally, Israel Discount Bank of New York purchased a new position in shares of Simon Property Group during the first quarter valued at about $146,000. 95.64% of the stock is owned by hedge funds and other institutional investors.

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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