Simon Property Group (NYSE: SPG) has recently received a number of price target changes and ratings updates:

  • 8/8/2017 – Simon Property Group had its price target raised by analysts at Barclays PLC from $188.00 to $190.00. They now have an “overweight” rating on the stock.
  • 8/2/2017 – Simon Property Group was given a new $240.00 price target on by analysts at Boenning Scattergood. They now have a “buy” rating on the stock.
  • 7/31/2017 – Simon Property Group was upgraded by analysts at BidaskClub from a “sell” rating to a “hold” rating.
  • 7/25/2017 – Simon Property Group had its “buy” rating reaffirmed by analysts at Jefferies Group LLC.
  • 7/18/2017 – Simon Property Group had its price target lowered by analysts at Barclays PLC from $191.00 to $188.00. They now have an “overweight” rating on the stock.
  • 7/17/2017 – Simon Property Group had its “buy” rating reaffirmed by analysts at Jefferies Group LLC. They now have a $190.00 price target on the stock.
  • 7/16/2017 – Simon Property Group was upgraded by analysts at BidaskClub from a “strong sell” rating to a “sell” rating.
  • 7/14/2017 – Simon Property Group is now covered by analysts at Stifel Nicolaus. They set a “hold” rating and a $170.00 price target on the stock.
  • 7/11/2017 – Simon Property Group was downgraded by analysts at Zacks Investment Research from a “hold” rating to a “sell” rating. According to Zacks, “Shares of Simon Property underperformed the Zacks categorized REIT and Equity Trust – Retail industry over the past three months. Also, the company’s second-quarter and full-year 2017 funds from operations (FFO) per share estimates moved south over the past 30 days. Notably, mall traffic has continued to suffer amid a rapid shift in customers’ shopping preferences and patterns with online purchases growing by leaps and bounds, leading retailers to reconsider their footprint and eventually opt for store closures. Further, retailers that are not being able to cope with competition are filing bankruptcies. While Simon Property is striving to counter the pressure through various initiatives, the implementation of such measures requires a decent upfront cost and therefore, would limit any robust growth in its profit margins in the near term. Also, rate hike have added to its woes.”
  • 6/29/2017 – Simon Property Group had its price target lowered by analysts at Argus from $225.00 to $210.00. They now have a “buy” rating on the stock.
  • 6/22/2017 – Simon Property Group was upgraded by analysts at Zacks Investment Research from a “sell” rating to a “hold” rating. According to Zacks, “Shares of Simon Property underperformed the Zacks categorized REIT and Equity Trust – Retail industry over the past three months. However, the company’s second-quarter and full-year 2017 funds from operations (FFO) per share estimates moved north over the past seven days. Recently, the company disclosed the continuation of the enhancements at the Southdale Center in Edina with the beginning of the construction on Homewood Suites by Hilton. Also, the company joined forces with health and lifestyle company, Life Time, for changing consumer experience at Southdale, with a planned athletic resort. Such efforts come at a point when mall traffic is facing challenges due to a change in shopping patterns, with online shopping taking precedence over in-store purchase. However, such steps require decent upfront costs. So margin expansion is likely to remain limited in the near term. Also, rate hike have added to its woes.”
  • 6/20/2017 – Simon Property Group was upgraded by analysts at Goldman Sachs Group, Inc. (The) from a “neutral” rating to a “buy” rating. They now have a $185.00 price target on the stock, up previously from $175.00.
  • 6/14/2017 – Simon Property Group was downgraded by analysts at Zacks Investment Research from a “hold” rating to a “sell” rating. According to Zacks, “Shares of Simon Property underperformed the Zacks categorized REIT and Equity Trust – Retail industry over the last six months. Also, its second-quarter and full-year 2017 FFO per share estimates moved south over the past 30 days. Admittedly, increasing consumer purchases through the Internet has emerged as a pressing concern as it curtails the demand for retail real estate space, in turn, affecting occupancy and rent growth. But, recently, the company joined forces with health and lifestyle company, Life Time, for changing consumer experience at Southdale Center in Edina, with a planned athletic resort. Also, it intends to spend around $1 billion each in 2017 and 2018. While the company is striving to counter pressure from online sales through various efforts, the implementation of such moves requires a decent upfront cost and therefore, would limit any robust growth in its profit margins in the near term. Also, rate hike add to its woes.”

Simon Property Group, Inc. (NYSE:SPG) opened at 161.15 on Friday. Simon Property Group, Inc. has a 52 week low of $150.15 and a 52 week high of $219.41. The company’s 50-day moving average price is $160.87 and its 200-day moving average price is $167.42. The company has a market capitalization of $50.09 billion, a P/E ratio of 28.72 and a beta of 0.58.

Simon Property Group (NYSE:SPG) last announced its quarterly earnings data on Tuesday, August 1st. The real estate investment trust reported $2.47 EPS for the quarter, topping the Zacks’ consensus estimate of $2.44 by $0.03. Simon Property Group had a return on equity of 39.29% and a net margin of 32.07%. The company had revenue of $1.36 billion during the quarter, compared to the consensus estimate of $1.37 billion. During the same quarter last year, the company earned $2.63 EPS. The company’s quarterly revenue was up 3.5% on a year-over-year basis. On average, equities analysts forecast that Simon Property Group, Inc. will post $6.43 EPS for the current fiscal year.

The business also recently announced a quarterly dividend, which will be paid on Thursday, August 31st. Stockholders of record on Thursday, August 17th will be issued a $1.80 dividend. The ex-dividend date is Tuesday, August 15th. This is a boost from Simon Property Group’s previous quarterly dividend of $1.75. This represents a $7.20 dividend on an annualized basis and a dividend yield of 4.47%. Simon Property Group’s dividend payout ratio is presently 124.33%.

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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