Shares of Simon Property Group Inc. (NYSE:SPG) hit a new 52-week high during trading on Monday . The stock traded as high as $221.25 and last traded at $220.92, with a volume of 400,907 shares changing hands. The stock had previously closed at $219.56.

Several analysts have recently commented on the company. Goldman Sachs Group Inc. lowered Simon Property Group from a “conviction-buy” rating to a “buy” rating and decreased their price objective for the company from $243.00 to $236.00 in a report on Monday, June 13th. Vetr lowered Simon Property Group from a “strong-buy” rating to a “buy” rating and set a $227.18 price objective for the company. in a report on Wednesday, June 15th. Mizuho reiterated a “buy” rating on shares of Simon Property Group in a report on Thursday, May 26th. Citigroup Inc. increased their price objective on Simon Property Group from $214.00 to $235.00 and gave the company a “buy” rating in a report on Friday, April 1st. Finally, Jefferies Group reiterated a “buy” rating on shares of Simon Property Group in a report on Wednesday, April 27th. Sixteen investment analysts have rated the stock with a buy rating, The stock has a consensus rating of “Buy” and a consensus target price of $228.79.

The firm has a market cap of $68.52 billion and a PE ratio of 38.86. The company’s 50 day moving average price is $206.75 and its 200-day moving average price is $199.19.

Simon Property Group (NYSE:SPG) last issued its earnings results on Tuesday, April 26th. The real estate investment trust reported $2.63 earnings per share for the quarter, topping the consensus estimate of $2.54 by $0.09. The company had revenue of $1.34 billion for the quarter, compared to analyst estimates of $1.26 billion. The company’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 earnings per share. On average, equities analysts predict that Simon Property Group Inc. will post $10.86 earnings per share for the current fiscal year.

In related news, Director Allan B. Hubbard bought 136 shares of the stock in a transaction on Thursday, April 28th. The shares were bought at an average cost 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 of the company’s stock, valued at approximately $1,805,140.28. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link.

A number of hedge funds and institutional investors recently modified their holdings of SPG. D L Carlson Investment Group Inc. raised its position in shares of Simon Property Group by 0.4% in the fourth quarter. D L Carlson Investment Group Inc. now owns 14,246 shares of the real estate investment trust’s stock valued at $2,770,000 after buying an additional 60 shares during the last quarter. Twin Capital Management Inc. raised its position in shares of Simon Property Group by 0.7% in the fourth quarter. Twin Capital Management Inc. now owns 12,730 shares of the real estate investment trust’s stock valued at $2,475,000 after buying an additional 90 shares during the last quarter. Spectrum Management Group Inc. raised its position in shares of Simon Property Group by 1.0% in the fourth quarter. Spectrum Management Group Inc. now owns 10,467 shares of the real estate investment trust’s stock valued at $2,035,000 after buying an additional 100 shares during the last quarter. Strategic Global Advisors LLC raised its position in shares of Simon Property Group by 3.8% in the fourth quarter. Strategic Global Advisors LLC now owns 6,810 shares of the real estate investment trust’s stock valued at $1,324,000 after buying an additional 250 shares during the last quarter. Finally, Tredje AP fonden raised its position in shares of Simon Property Group by 1.5% in the fourth quarter. Tredje AP fonden now owns 20,207 shares of the real estate investment trust’s stock valued at $3,929,000 after buying an additional 302 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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