Simon Property Group Inc. (NYSE:SPG) hit a new 52-week high on Thursday . The stock traded as high as $224.35 and last traded at $224.20, with a volume of 671,429 shares. The stock had previously closed at $223.24.

Several brokerages recently weighed in on SPG. Zacks Investment Research raised shares of Simon Property Group from a “hold” rating to a “buy” rating and set a $243.00 target price on the stock in a research note on Tuesday, July 5th. Citigroup Inc. upped their target price on shares of Simon Property Group from $214.00 to $235.00 and gave the stock a “buy” rating in a research note on Friday, April 1st. Mizuho initiated coverage on shares of Simon Property Group in a report on Wednesday, April 13th. They set a “buy” rating and a $233.00 price target for the company. Vetr upgraded shares of Simon Property Group from a “hold” rating to a “buy” rating and set a $217.76 price target for the company in a report on Wednesday, April 6th. Finally, Jefferies Group reiterated a “buy” rating on shares of Simon Property Group in a report on Wednesday, April 27th. Sixteen equities research analysts have rated the stock with a buy rating, Simon Property Group currently has a consensus rating of “Buy” and a consensus target price of $228.79.

The stock has a market capitalization of $69.37 billion and a P/E ratio of 39.34. The company has a 50-day moving average price of $211.63 and a 200 day moving average price of $200.52.

Simon Property Group (NYSE:SPG) last posted its quarterly earnings data on Tuesday, April 26th. The real estate investment trust reported $2.63 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.54 by $0.09. During the same quarter in the prior year, the business earned $2.28 EPS. The firm had revenue of $1.34 billion for the quarter, compared to analysts’ expectations of $1.26 billion. The company’s revenue for the quarter was up 9.9% on a year-over-year basis. Analysts expect that Simon Property Group Inc. will post $10.86 earnings per share for the current year.

In other news, Director Allan B. Hubbard acquired 136 shares of the company’s stock in a transaction dated Thursday, April 28th. The shares were bought at an average price of $204.92 per share, for a total transaction of $27,869.12. Following the completion of the purchase, the director now directly owns 8,809 shares of the company’s stock, valued at approximately $1,805,140.28. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink.

Several hedge funds have recently bought and sold shares of the stock. Twin Capital Management Inc. raised its stake in 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 worth $2,475,000 after buying an additional 90 shares in the last quarter. Gulf International Bank UK Ltd raised its stake in Simon Property Group by 2.0% in the fourth quarter. Gulf International Bank UK Ltd now owns 91,067 shares of the real estate investment trust’s stock worth $17,707,000 after buying an additional 1,800 shares in the last quarter. LS Investment Advisors LLC raised its stake in Simon Property Group by 6.4% in the fourth quarter. LS Investment Advisors LLC now owns 14,457 shares of the real estate investment trust’s stock worth $2,811,000 after buying an additional 874 shares in the last quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS raised its stake in Simon Property Group by 1.7% in the fourth quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 20,215 shares of the real estate investment trust’s stock worth $3,931,000 after buying an additional 335 shares in the last quarter. Finally, Cornerstone Real Estate Advisers LLC raised its stake in Simon Property Group by 3.1% in the fourth quarter. Cornerstone Real Estate Advisers LLC now owns 109,861 shares of the real estate investment trust’s stock worth $21,361,000 after buying an additional 3,310 shares in 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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