Simon Property Group Inc. (NYSE:SPG) shares hit a new 52-week high during trading on Tuesday . The company traded as high as $219.05 and last traded at $218.91, with a volume of 486,948 shares trading hands. The stock had previously closed at $217.14.

SPG has been the subject of a number of analyst reports. Vetr raised shares of Simon Property Group from a “hold” rating to a “buy” rating and set a $212.51 price objective for the company in a research report on Wednesday, March 9th. Mizuho restated a “buy” rating on shares of Simon Property Group in a research note on Thursday, May 26th. Evercore ISI raised their target price on shares of Simon Property Group from $213.00 to $220.00 and gave the stock a “buy” rating in a research note on Monday, March 21st. Stifel Nicolaus raised their target price on shares of Simon Property Group from $220.00 to $232.00 and gave the stock a “buy” rating in a research note on Monday, March 21st. Finally, Jefferies Group restated a “buy” rating on shares of Simon Property Group in a research note on Wednesday, April 27th. Sixteen equities research analysts have rated the stock with a buy rating, The stock currently has an average rating of “Buy” and an average price target of $228.79.

The stock has a market cap of $67.31 billion and a PE ratio of 38.17. The company’s 50-day moving average is $203.81 and its 200-day moving average is $198.41.

Simon Property Group (NYSE:SPG) last posted its quarterly earnings results on Tuesday, April 26th. The real estate investment trust reported $2.63 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $2.54 by $0.09. The company had revenue of $1.34 billion for the quarter, compared to the consensus estimate of $1.26 billion. Simon Property Group’s quarterly revenue was up 9.9% compared to the same quarter last year. During the same quarter in the previous year, the company posted $2.28 EPS. On average, equities research analysts predict that Simon Property Group Inc. will post $10.86 earnings per share for the current year.

In related news, Director Allan B. Hubbard purchased 136 shares of Simon Property Group stock in a transaction that occurred on Thursday, April 28th. The stock was bought at an average price of $204.92 per share, for a total transaction of $27,869.12. Following the completion of the transaction, the director now owns 8,809 shares in the company, valued at $1,805,140.28. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link.

Other institutional investors recently bought and sold shares of the company. Liberty Mutual Group Asset Management Inc. raised its position in Simon Property Group by 22.9% in the fourth quarter. Liberty Mutual Group Asset Management Inc. now owns 18,451 shares of the real estate investment trust’s stock valued at $3,587,000 after buying an additional 3,432 shares during the last quarter. Herndon Capital Management LLC raised its position in Simon Property Group by 38.3% in the fourth quarter. Herndon Capital Management LLC now owns 8,486 shares of the real estate investment trust’s stock valued at $1,650,000 after buying an additional 2,352 shares during the last quarter. Aberdeen Asset Management PLC UK raised its position in Simon Property Group by 13.9% in the fourth quarter. Aberdeen Asset Management PLC UK now owns 103,130 shares of the real estate investment trust’s stock valued at $21,124,000 after buying an additional 12,606 shares during the last quarter. Suntrust Banks Inc. raised its position in Simon Property Group by 34.0% in the fourth quarter. Suntrust Banks Inc. now owns 19,414 shares of the real estate investment trust’s stock valued at $3,774,000 after buying an additional 4,926 shares during the last quarter. Finally, Vanguard Group Inc. raised its position in Simon Property Group by 2.6% in the fourth quarter. Vanguard Group Inc. now owns 41,471,502 shares of the real estate investment trust’s stock valued at $8,063,719,000 after buying an additional 1,067,581 shares during the last quarter.

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.

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