Analysts Set Simon Property Group, Inc. (NYSE:SPG) PT at $200.14

Shares of Simon Property Group, Inc. (NYSE:SPG) have been given an average rating of “Hold” by the fifteen analysts that are currently covering the company, Marketbeat.com reports. Ten analysts have rated the stock with a hold recommendation and five have issued a buy recommendation on the company. The average twelve-month target price among brokerages that have updated their coverage on the stock in the last year is $200.1429.

SPG has been the topic of a number of recent research reports. UBS Group increased their target price on Simon Property Group from $180.00 to $189.00 and gave the stock a “neutral” rating in a report on Thursday, January 8th. Weiss Ratings upgraded Simon Property Group from a “buy (b)” rating to a “buy (b+)” rating in a report on Monday. Barclays boosted their target price on shares of Simon Property Group from $193.00 to $201.00 and gave the stock an “equal weight” rating in a research report on Monday, April 13th. Citigroup boosted their target price on shares of Simon Property Group from $185.00 to $189.00 and gave the stock a “neutral” rating in a research report on Thursday, February 5th. Finally, Mizuho set a $192.00 target price on shares of Simon Property Group in a research report on Friday, January 9th.

Institutional Trading of Simon Property Group

Several institutional investors have recently made changes to their positions in SPG. Mirae Asset Global Investments Co. Ltd. lifted its position in shares of Simon Property Group by 15.5% during the 3rd quarter. Mirae Asset Global Investments Co. Ltd. now owns 66,720 shares of the real estate investment trust’s stock worth $12,521,000 after buying an additional 8,965 shares in the last quarter. Ontario Teachers Pension Plan Board bought a new position in shares of Simon Property Group during the 3rd quarter worth approximately $3,598,000. National Pension Service lifted its position in shares of Simon Property Group by 3.2% during the 3rd quarter. National Pension Service now owns 1,080,314 shares of the real estate investment trust’s stock worth $202,743,000 after buying an additional 33,758 shares in the last quarter. Aew Capital Management L P lifted its position in shares of Simon Property Group by 90.9% during the 3rd quarter. Aew Capital Management L P now owns 530,155 shares of the real estate investment trust’s stock worth $99,494,000 after buying an additional 252,510 shares in the last quarter. Finally, Clark Capital Management Group Inc. increased its position in shares of Simon Property Group by 1.7% during the 3rd quarter. Clark Capital Management Group Inc. now owns 247,032 shares of the real estate investment trust’s stock valued at $46,361,000 after purchasing an additional 4,177 shares during the last quarter. Institutional investors own 93.01% of the company’s stock.

Simon Property Group Trading Up 0.4%

NYSE:SPG opened at $202.34 on Wednesday. The firm has a fifty day simple moving average of $195.20 and a two-hundred day simple moving average of $188.79. Simon Property Group has a 12 month low of $155.44 and a 12 month high of $208.28. The company has a current ratio of 0.90, a quick ratio of 0.90 and a debt-to-equity ratio of 4.42. The stock has a market capitalization of $65.75 billion, a price-to-earnings ratio of 14.27, a PEG ratio of 6.63 and a beta of 1.33.

Simon Property Group (NYSE:SPG) last posted its quarterly earnings results on Monday, February 2nd. The real estate investment trust reported $3.49 earnings per share for the quarter, topping analysts’ consensus estimates of $3.47 by $0.02. Simon Property Group had a return on equity of 124.12% and a net margin of 72.71%.The business had revenue of $1.79 billion for the quarter, compared to the consensus estimate of $1.50 billion. During the same period in the prior year, the business earned $3.68 EPS. The firm’s revenue for the quarter was up 13.2% on a year-over-year basis. Analysts expect that Simon Property Group will post 13.19 EPS for the current fiscal year.

Simon Property Group declared that its board has authorized a share buyback plan on Thursday, February 5th that authorizes the company to repurchase $2.00 billion in outstanding shares. This repurchase authorization authorizes the real estate investment trust to reacquire up to 3.1% of its stock through open market purchases. Stock repurchase plans are usually a sign that the company’s leadership believes its shares are undervalued.

Simon Property Group Company Profile

Simon Property Group, Inc (NYSE: SPG) is a publicly traded real estate investment trust (REIT) that owns, develops and manages retail real estate properties. Its core business activities include acquisition, development, leasing and property management of regional malls, outlet centers and mixed‑use retail destinations. The company operates retail brands that include high‑profile regional shopping centers and the Premium Outlets platform, and it provides services such as tenant leasing, marketing, property operations and capital projects to optimize asset performance.

Simon’s portfolio spans a broad mix of enclosed malls, open‑air centers, outlet properties and mixed‑use developments, and the company pursues redevelopment and repositioning to adapt properties to changing consumer and retail trends.