Simon Property Group Inc. (NYSE:SPG)’s share price reached 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 trading hands. The stock had previously closed at $223.24.

SPG has been the subject of several research analyst reports. Citigroup Inc. raised their price objective on Simon Property Group from $214.00 to $235.00 and gave the company a “buy” rating in a research note on Friday, April 1st. Mizuho initiated coverage on Simon Property Group in a research note on Wednesday, April 13th. They issued a “buy” rating and a $233.00 price objective for the company. Vetr downgraded Simon Property Group from a “buy” rating to a “hold” rating and set a $212.51 price objective for the company. in a research note on Tuesday, March 29th. Goldman Sachs Group Inc. reaffirmed a “buy” rating on shares of Simon Property Group in a research note on Wednesday, April 20th. Finally, Zacks Investment Research raised Simon Property Group from a “hold” rating to a “buy” rating and set a $243.00 price objective for the company in a research note on Tuesday, July 5th. Sixteen equities research analysts have rated the stock with a buy rating, The company has a consensus rating of “Buy” and an average price target of $228.79.

The stock has a market cap of $69.71 billion and a PE ratio of 39.53. The firm’s 50-day moving average price is $212.43 and its 200 day moving average price is $200.76.

Simon Property Group (NYSE:SPG) last released its earnings results on Tuesday, April 26th. The real estate investment trust reported $2.63 earnings per share for the quarter, topping analysts’ consensus estimates of $2.54 by $0.09. During the same quarter last year, the company earned $2.28 earnings per share. The firm earned $1.34 billion during the quarter, compared to analyst estimates of $1.26 billion. The business’s revenue for the quarter was up 9.9% on a year-over-year basis. On average, equities analysts forecast that Simon Property Group Inc. will post $10.86 EPS for the current fiscal year.

In related news, Director Allan B. Hubbard acquired 136 shares of the business’s stock in a transaction dated 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 transaction, the director now owns 8,809 shares of the company’s stock, valued at $1,805,140.28. The purchase was disclosed in a filing with the SEC, which is available through this hyperlink.

Other large investors recently made changes to their positions in the company. Ashburton Jersey Ltd bought a new stake in shares of Simon Property Group during the fourth quarter worth approximately $1,314,000. Strategic Global Advisors LLC increased its stake 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 worth $1,324,000 after buying an additional 250 shares during the period. American Investment Services Inc. increased its stake in shares of Simon Property Group by 18.6% in the fourth quarter. American Investment Services Inc. now owns 8,074 shares of the real estate investment trust’s stock worth $1,326,000 after buying an additional 1,265 shares during the period. Herndon Capital Management LLC increased its stake in shares of 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 worth $1,650,000 after buying an additional 2,352 shares during the period. Finally, Victory Capital Management Inc. increased its stake in shares of Simon Property Group by 74.0% in the fourth quarter. Victory Capital Management Inc. now owns 10,711 shares of the real estate investment trust’s stock worth $2,083,000 after buying an additional 4,554 shares during the period.

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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