Analysts at Goldman Sachs Group assumed coverage on shares of Simon Property Group (NYSE:SPG) in a report issued on Wednesday, The Fly reports. The firm set a “buy” rating and a $94.00 price target on the real estate investment trust’s stock. Goldman Sachs Group’s target price points to a potential upside of 36.61% from the company’s previous close.

A number of other brokerages have also issued reports on SPG. SunTrust Banks cut their target price on shares of Simon Property Group from $140.00 to $80.00 and set a “hold” rating on the stock in a research note on Friday, April 24th. Zacks Investment Research upgraded shares of Simon Property Group from a “sell” rating to a “hold” rating and set a $60.00 price objective on the stock in a research note on Monday, May 11th. BTIG Research restated a “buy” rating and issued a $99.00 target price on shares of Simon Property Group in a research report on Friday, June 12th. Bank of America cut shares of Simon Property Group from a “buy” rating to a “neutral” rating and set a $62.00 target price for the company. in a research report on Tuesday, April 14th. Finally, Jefferies Financial Group cut shares of Simon Property Group from a “buy” rating to a “hold” rating and decreased their target price for the stock from $162.00 to $109.00 in a research report on Tuesday, March 10th. Two research analysts have rated the stock with a sell rating, eleven have given a hold rating and five have given a buy rating to the stock. Simon Property Group presently has an average rating of “Hold” and an average price target of $96.24.

SPG stock traded down $1.00 during trading on Wednesday, reaching $68.81. The stock had a trading volume of 6,440,885 shares, compared to its average volume of 11,427,190. Simon Property Group has a 1-year low of $42.25 and a 1-year high of $165.48. The company has a current ratio of 3.60, a quick ratio of 3.60 and a debt-to-equity ratio of 11.16. The company has a market capitalization of $22.05 billion, a P/E ratio of 10.65, a PEG ratio of 1.32 and a beta of 1.34. The firm has a fifty day moving average price of $65.84 and a 200 day moving average price of $96.89.

Simon Property Group (NYSE:SPG) last issued its quarterly earnings data on Monday, May 11th. The real estate investment trust reported $1.43 EPS for the quarter, missing analysts’ consensus estimates of $2.90 by ($1.47). Simon Property Group had a return on equity of 68.08% and a net margin of 35.20%. The firm had revenue of $1.35 billion during the quarter, compared to analyst estimates of $1.33 billion. During the same quarter in the prior year, the firm earned $1.78 EPS. The business’s quarterly revenue was down 6.9% compared to the same quarter last year. Sell-side analysts predict that Simon Property Group will post 10.57 EPS for the current year.

In related news, Director Glyn Aeppel acquired 1,000 shares of the firm’s stock in a transaction dated Friday, May 15th. The stock was acquired at an average cost of $50.50 per share, for a total transaction of $50,500.00. Following the completion of the acquisition, the director now directly owns 8,317 shares of the company’s stock, valued at approximately $420,008.50. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Company insiders own 8.93% of the company’s stock.

Several institutional investors have recently bought and sold shares of SPG. Capital World Investors boosted its holdings in Simon Property Group by 30.6% during the first quarter. Capital World Investors now owns 25,737,216 shares of the real estate investment trust’s stock worth $1,411,946,000 after buying an additional 6,025,630 shares in the last quarter. Cohen & Steers Inc. grew its stake in Simon Property Group by 100.0% in the 1st quarter. Cohen & Steers Inc. now owns 16,116,221 shares of the real estate investment trust’s stock valued at $884,136,000 after buying an additional 8,059,066 shares during the last quarter. Capital Research Global Investors grew its stake in Simon Property Group by 5.4% in the 4th quarter. Capital Research Global Investors now owns 9,808,787 shares of the real estate investment trust’s stock valued at $1,461,117,000 after buying an additional 503,606 shares during the last quarter. APG Asset Management US Inc. grew its stake in Simon Property Group by 5.9% in the 1st quarter. APG Asset Management US Inc. now owns 6,423,500 shares of the real estate investment trust’s stock valued at $352,393,000 after buying an additional 358,000 shares during the last quarter. Finally, Geode Capital Management LLC grew its stake in Simon Property Group by 2.8% in the 4th quarter. Geode Capital Management LLC now owns 6,355,833 shares of the real estate investment trust’s stock valued at $946,066,000 after buying an additional 172,781 shares during the last quarter. Institutional investors and hedge funds own 90.22% of the company’s stock.

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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The Fly

Analyst Recommendations for Simon Property Group (NYSE:SPG)

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