Shares of Simon Property Group, Inc. (NYSE:SPG) have received a consensus rating of “Buy” from the twenty ratings firms that are currently covering the firm, MarketBeat reports. Two equities research analysts have rated the stock with a sell recommendation, six have assigned a hold recommendation and twelve have assigned a buy recommendation to the company. The average 12 month price target among analysts that have updated their coverage on the stock in the last year is $193.76.

Several research firms recently weighed in on SPG. Boenning Scattergood set a $240.00 price target on Simon Property Group and gave the stock a “buy” rating in a research note on Wednesday, August 2nd. Barclays PLC upped their price target on Simon Property Group from $188.00 to $190.00 and gave the stock an “overweight” rating in a research note on Tuesday, August 8th. Argus cut their price target on Simon Property Group from $225.00 to $210.00 and set a “buy” rating on the stock in a research note on Thursday, June 29th. Jefferies Group LLC restated a “buy” rating and issued a $190.00 price target on shares of Simon Property Group in a research note on Monday, July 17th. Finally, BidaskClub upgraded Simon Property Group from a “strong sell” rating to a “sell” rating in a research note on Sunday, July 16th.

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Several hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Nelson Van Denburg & Campbell Wealth Management Group LLC lifted its holdings in shares of Simon Property Group by 0.7% during the 2nd quarter. Nelson Van Denburg & Campbell Wealth Management Group LLC now owns 973 shares of the real estate investment trust’s stock valued at $157,000 after buying an additional 7 shares during the period. Logan Capital Management Inc. lifted its holdings in shares of Simon Property Group by 0.6% during the 1st quarter. Logan Capital Management Inc. now owns 2,435 shares of the real estate investment trust’s stock valued at $419,000 after buying an additional 15 shares during the period. Whitnell & Co. lifted its holdings in shares of Simon Property Group by 0.4% during the 2nd quarter. Whitnell & Co. now owns 5,363 shares of the real estate investment trust’s stock valued at $868,000 after buying an additional 21 shares during the period. WFG Advisors LP lifted its holdings in shares of Simon Property Group by 1.3% during the 2nd quarter. WFG Advisors LP now owns 1,841 shares of the real estate investment trust’s stock valued at $298,000 after buying an additional 23 shares during the period. Finally, Guardian Life Insurance Co. of America lifted its holdings in shares of Simon Property Group by 2.6% during the 1st quarter. Guardian Life Insurance Co. of America now owns 1,235 shares of the real estate investment trust’s stock valued at $212,000 after buying an additional 31 shares during the period. 94.95% of the stock is currently owned by hedge funds and other institutional investors.

Simon Property Group (NYSE SPG) traded down 0.63% on Friday, hitting $160.24. The stock had a trading volume of 1,162,218 shares. The company has a market cap of $49.81 billion, a P/E ratio of 28.56 and a beta of 0.60. The stock has a 50 day moving average price of $159.11 and a 200 day moving average price of $161.67. Simon Property Group has a 1-year low of $150.15 and a 1-year high of $199.85.

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 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 the consensus estimate of $1.37 billion. Simon Property Group had a return on equity of 39.29% and a net margin of 32.07%. The firm’s quarterly revenue was up 3.5% compared to the same quarter last year. During the same quarter in the prior year, the business posted $2.63 EPS. On average, equities research analysts expect that Simon Property Group will post $6.35 EPS for the current fiscal year.

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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