Simon Property Group, Inc. (SPG) PT Set at $170.00 by SunTrust Banks, Inc.
Simon Property Group, Inc. (NYSE:SPG) has been assigned a $170.00 target price by investment analysts at SunTrust Banks, Inc. in a report issued on Sunday. The brokerage presently has a “hold” rating on the real estate investment trust’s stock. SunTrust Banks, Inc.’s price target suggests a potential upside of 7.77% from the stock’s current price.
SPG has been the subject of a number of other research reports. Zacks Investment Research raised Simon Property Group from a “hold” rating to a “buy” rating and set a $182.00 price target for the company in a research report on Wednesday, October 11th. Mizuho set a $183.00 price objective on Simon Property Group and gave the company a “buy” rating in a report on Sunday. Boenning Scattergood set a $240.00 price objective on Simon Property Group and gave the company a “buy” rating in a report on Wednesday, August 2nd. Stifel Nicolaus set a $170.00 price objective on Simon Property Group and gave the company a “hold” rating in a report on Sunday, August 27th. Finally, BidaskClub raised Simon Property Group from a “strong sell” rating to a “sell” rating in a report on Sunday, July 16th. One research analyst has rated the stock with a sell rating, six have assigned a hold rating and thirteen have issued a buy rating to the company’s stock. The stock currently has an average rating of “Buy” and a consensus target price of $192.06.
Shares of Simon Property Group (NYSE:SPG) opened at 157.74 on Friday. Simon Property Group has a 1-year low of $150.15 and a 1-year high of $189.25. The firm has a market capitalization of $49.03 billion, a PE ratio of 28.11 and a beta of 0.60. The firm has a 50-day moving average of $161.97 and a 200-day moving average of $160.79.
Simon Property Group (NYSE:SPG) last released its quarterly earnings results on Friday, October 27th. The real estate investment trust reported $2.89 earnings per share for the quarter, topping analysts’ consensus estimates 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 quarter in the prior year, the firm posted $2.70 EPS. The business’s revenue was up 3.4% on a year-over-year basis. On average, equities research analysts anticipate that Simon Property Group will post $6.35 EPS for the current fiscal year.
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A number of institutional investors and hedge funds have recently bought and sold shares of SPG. Capital World Investors raised its stake in Simon Property Group by 25.4% in the 2nd quarter. Capital World Investors now owns 20,788,000 shares of the real estate investment trust’s stock valued at $3,362,667,000 after acquiring an additional 4,210,000 shares during the period. Eaton Vance Management raised its stake in Simon Property Group by 110.5% in the 2nd quarter. Eaton Vance Management now owns 1,545,545 shares of the real estate investment trust’s stock valued at $250,007,000 after acquiring an additional 811,457 shares during the period. Uniplan Investment Counsel Inc. raised its stake in Simon Property Group by 118.1% in the 2nd quarter. Uniplan Investment Counsel Inc. now owns 1,318,807 shares of the real estate investment trust’s stock valued at $88,381,000 after acquiring an additional 714,159 shares during the period. Brookfield Asset Management Inc. raised its stake in Simon Property Group by 28.4% in the 2nd quarter. Brookfield Asset Management Inc. now owns 3,124,419 shares of the real estate investment trust’s stock valued at $505,406,000 after acquiring an additional 690,169 shares during the period. Finally, Principal Financial Group Inc. raised its stake in Simon Property Group by 9.7% in the 2nd quarter. Principal Financial Group Inc. now owns 6,112,741 shares of the real estate investment trust’s stock valued at $988,797,000 after acquiring an additional 542,743 shares during the period. Institutional investors and hedge funds own 95.10% of the company’s stock.
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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