Simon Property Group (SPG) Given a $185.00 Price Target by Raymond James Financial Analysts
Simon Property Group (NYSE:SPG) received a $185.00 price objective from equities researchers at Raymond James Financial in a note issued to investors on Sunday. The brokerage currently has a “buy” rating on the real estate investment trust’s stock. Raymond James Financial’s price target suggests a potential upside of 13.03% from the company’s current price.
SPG has been the subject of several other reports. Royal Bank Of Canada reissued a “hold” rating and issued a $176.00 price objective on shares of Simon Property Group in a research note on Thursday, November 2nd. Argus reduced their price objective on Simon Property Group from $200.00 to $195.00 and set a “buy” rating for the company in a research note on Tuesday, October 31st. Zacks Investment Research raised Simon Property Group from a “hold” rating to a “buy” rating and set a $182.00 price objective for the company in a research note on Wednesday, October 11th. Mizuho set a $183.00 target price on Simon Property Group and gave the company a “buy” rating in a report on Sunday, October 29th. Finally, Stifel Nicolaus set a $170.00 target price on Simon Property Group and gave the company a “hold” rating in a report on Sunday, August 27th. One equities research analyst has rated the stock with a sell rating, seven have assigned a hold rating and thirteen have assigned a buy rating to the stock. The company has a consensus rating of “Buy” and a consensus target price of $191.11.
Simon Property Group (NYSE SPG) opened at $163.67 on Friday. Simon Property Group has a 52 week low of $150.15 and a 52 week high of $188.10. The company has a quick ratio of 0.93, a current ratio of 0.93 and a debt-to-equity ratio of 5.57. The company has a market capitalization of $52,380.00, a price-to-earnings ratio of 14.75, a P/E/G ratio of 2.19 and a beta of 0.62.
Simon Property Group (NYSE:SPG) last posted its quarterly earnings data on Friday, October 27th. The real estate investment trust reported $2.89 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $2.88 by $0.01. Simon Property Group had a return on equity of 41.85% and a net margin of 31.96%. The firm had revenue of $1.40 billion during the quarter, compared to the consensus estimate of $1.39 billion. During the same period in the prior year, the company earned $2.70 EPS. The firm’s revenue was up 3.4% compared to the same quarter last year. equities analysts predict that Simon Property Group will post 11.2 earnings per share for the current year.
Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Parallel Advisors LLC grew its holdings in shares of Simon Property Group by 69.7% during the 3rd quarter. Parallel Advisors LLC now owns 772 shares of the real estate investment trust’s stock worth $124,000 after purchasing an additional 317 shares during the period. Bronfman E.L. Rothschild L.P. grew its holdings in shares of Simon Property Group by 27.3% during the 2nd quarter. Bronfman E.L. Rothschild L.P. now owns 787 shares of the real estate investment trust’s stock worth $127,000 after purchasing an additional 169 shares during the period. Nelson Van Denburg & Campbell Wealth Management Group LLC boosted its holdings in 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 acquiring an additional 7 shares during the period. Highstreet Asset Management Inc. purchased a new position in Simon Property Group during the 2nd quarter valued at about $157,000. Finally, Harel Insurance Investments & Financial Services Ltd. purchased a new position in Simon Property Group during the 2nd quarter valued at about $162,000. Institutional investors and hedge funds own 47.60% of the company’s stock.
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About Simon Property Group
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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