Simon Property Group Inc (NYSE:SPG) has earned a consensus recommendation of “Hold” from the eleven brokerages that are presently covering the firm, Marketbeat.com reports. Nine research analysts have rated the stock with a hold recommendation and two have assigned a buy recommendation to the company. The average twelve-month target price among brokerages that have issued a report on the stock in the last year is $179.44.

SPG has been the topic of a number of recent analyst reports. Barclays set a $218.00 price target on Simon Property Group and gave the stock a “buy” rating in a research report on Friday, October 11th. BTIG Research cut their target price on Simon Property Group to $218.00 and set a “buy” rating on the stock in a research report on Monday, October 28th. ValuEngine raised Simon Property Group from a “sell” rating to a “hold” rating in a research report on Friday, October 25th. JPMorgan Chase & Co. downgraded Simon Property Group from an “overweight” rating to a “neutral” rating and cut their target price for the company from $170.00 to $162.00 in a research report on Wednesday, December 18th. Finally, Citigroup downgraded Simon Property Group from a “buy” rating to a “neutral” rating and cut their target price for the company from $187.00 to $170.00 in a research report on Monday, September 23rd.

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Tower View Investment Management & Research LLC boosted its holdings in Simon Property Group by 7.5% in the third quarter. Tower View Investment Management & Research LLC now owns 1,084 shares of the real estate investment trust’s stock valued at $169,000 after purchasing an additional 76 shares during the last quarter. Brown Advisory Inc. boosted its holdings in Simon Property Group by 2.6% in the second quarter. Brown Advisory Inc. now owns 3,350 shares of the real estate investment trust’s stock valued at $535,000 after purchasing an additional 85 shares during the last quarter. Parallel Advisors LLC boosted its holdings in Simon Property Group by 11.2% in the third quarter. Parallel Advisors LLC now owns 841 shares of the real estate investment trust’s stock valued at $131,000 after purchasing an additional 85 shares during the last quarter. Triangle Securities Wealth Management boosted its holdings in Simon Property Group by 2.3% in the fourth quarter. Triangle Securities Wealth Management now owns 3,724 shares of the real estate investment trust’s stock valued at $555,000 after purchasing an additional 85 shares during the last quarter. Finally, Signature Wealth Management Group boosted its holdings in Simon Property Group by 0.4% in the fourth quarter. Signature Wealth Management Group now owns 20,281 shares of the real estate investment trust’s stock valued at $3,021,000 after purchasing an additional 88 shares during the last quarter. 90.58% of the stock is currently owned by hedge funds and other institutional investors.

Shares of SPG stock traded down $0.03 during trading hours on Friday, reaching $147.10. 1,357,007 shares of the company’s stock were exchanged, compared to its average volume of 1,635,711. The stock’s 50 day moving average is $146.84 and its 200-day moving average is $152.29. The company has a market cap of $46.40 billion, a price-to-earnings ratio of 12.13, a P/E/G ratio of 2.61 and a beta of 0.51. The company has a current ratio of 3.34, a quick ratio of 3.34 and a debt-to-equity ratio of 8.77. Simon Property Group has a fifty-two week low of $142.40 and a fifty-two week high of $186.44.

Simon Property Group (NYSE:SPG) last issued its quarterly earnings results on Wednesday, October 30th. The real estate investment trust reported $1.77 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $3.05 by ($1.28). The business had revenue of $1.42 billion for the quarter, compared to analyst estimates of $1.40 billion. Simon Property Group had a return on equity of 66.93% and a net margin of 40.23%. The business’s revenue for the quarter was up .9% on a year-over-year basis. During the same period in the previous year, the company posted $3.05 earnings per share. Equities analysts anticipate that Simon Property Group will post 12.08 EPS for the current year.

Simon Property Group Company Profile

Simon is a global leader in the ownership of premier shopping, dining, entertainment and mixed-use destinations and an S&P 100 company (Simon Property Group, NYSE:SPG). Our properties across North America, Europe and Asia provide community gathering places for millions of people every day and generate billions in annual sales.

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Analyst Recommendations for Simon Property Group (NYSE:SPG)

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