Somewhat Favorable Media Coverage Somewhat Unlikely to Impact Simon Property Group (SPG) Share Price
Headlines about Simon Property Group (NYSE:SPG) have trended somewhat positive on Tuesday, Accern Sentiment reports. Accern identifies positive and negative press coverage by analyzing more than 20 million blog and news sources. Accern ranks coverage of companies on a scale of -1 to 1, with scores nearest to one being the most favorable. Simon Property Group earned a news sentiment score of 0.20 on Accern’s scale. Accern also gave media coverage about the real estate investment trust an impact score of 45.9182982215539 out of 100, meaning that recent press coverage is somewhat unlikely to have an impact on the company’s share price in the immediate future.
These are some of the headlines that may have impacted Accern’s scoring:
- Simon Property Group Inc (SPG) Receives Consensus Recommendation of “Buy” from Brokerages (americanbankingnews.com)
- Implied EWRE Analyst Target Price: $30 – Nasdaq (nasdaq.com)
- Zacks: Brokerages Expect Simon Property Group Inc (SPG) Will Announce Quarterly Sales of $1.43 Billion (americanbankingnews.com)
- Zacks: Brokerages Expect Simon Property Group Inc (SPG) Will Announce Earnings of $3.11 Per Share (americanbankingnews.com)
- Simon Property Group, Inc (nismagazine.com)
SPG has been the subject of several recent research reports. Zacks Investment Research upgraded shares of Simon Property Group from a “hold” rating to a “buy” rating and set a $182.00 target price for the company in a research note on Wednesday, October 11th. Mizuho set a $183.00 target price on shares of Simon Property Group and gave the stock a “buy” rating in a research note on Sunday, October 29th. BMO Capital Markets set a $175.00 target price on shares of Simon Property Group and gave the stock a “buy” rating in a research note on Friday, October 27th. Boenning Scattergood set a $240.00 target price on shares of Simon Property Group and gave the stock a “buy” rating in a research note on Monday, October 30th. Finally, Argus decreased their target price on shares of 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. Two equities research analysts have rated the stock with a sell rating, six have assigned a hold rating and thirteen have assigned a buy rating to the company’s stock. The stock has an average rating of “Buy” and a consensus target price of $191.11.
Simon Property Group (NYSE SPG) traded up $0.68 during midday trading on Tuesday, reaching $165.51. 1,238,600 shares of the company traded hands, compared to its average volume of 1,694,044. The stock has a market capitalization of $52,810.00, a PE ratio of 29.24, a P/E/G ratio of 2.07 and a beta of 0.62. Simon Property Group has a 52-week low of $150.15 and a 52-week high of $187.35. The company has a quick ratio of 0.93, a current ratio of 0.93 and a debt-to-equity ratio of 5.57.
Simon Property Group (NYSE:SPG) last posted its quarterly earnings results on Friday, October 27th. The real estate investment trust reported $2.89 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.88 by $0.01. The firm had revenue of $1.40 billion during the quarter, compared to analysts’ expectations of $1.39 billion. Simon Property Group had a net margin of 31.96% and a return on equity of 41.85%. The firm’s revenue for the quarter was up 3.4% on a year-over-year basis. During the same period in the prior year, the company posted $2.70 earnings per share. equities research analysts predict that Simon Property Group will post 11.21 earnings per share for the current year.
In other Simon Property Group news, CAO Steven K. Broadwater sold 621 shares of the stock in a transaction dated Saturday, December 29th. The shares were sold at an average price of $171.95, for a total value of $106,780.95. Following the completion of the transaction, the chief accounting officer now directly owns 2,290 shares of the company’s stock, valued at $393,765.50. The sale was disclosed in a filing with the SEC, which is available at this link. Corporate insiders own 8.42% of the company’s stock.
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Simon Property Group Company Profile
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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