Simon Property Group Inc. (NYSE:SPG) has been given a consensus recommendation of “Buy” by the nineteen ratings firms that are currently covering the stock. Five analysts have rated the stock with a hold rating and twelve have issued a buy rating on the company. The average 1 year price objective among analysts that have covered the stock in the last year is $235.06.

A number of research firms recently commented on SPG. Stifel Nicolaus lifted their price target on shares of Simon Property Group from $232.00 to $240.00 and gave the stock a “buy” rating in a research note on Monday, August 1st. Zacks Investment Research raised shares of Simon Property Group from a “hold” rating to a “buy” rating and set a $243.00 price target for the company in a research note on Tuesday, July 5th. Vetr cut shares of Simon Property Group from a “strong-buy” rating to a “buy” rating and set a $227.18 price target for the company. in a research note on Wednesday, June 15th. Goldman Sachs Group Inc. cut shares of Simon Property Group from a “conviction-buy” rating to a “buy” rating and dropped their price target for the stock from $243.00 to $236.00 in a research note on Monday, June 13th. Finally, Deutsche Bank AG lifted their price target on shares of Simon Property Group from $232.00 to $233.00 and gave the stock a “buy” rating in a research note on Wednesday, August 17th.

Simon Property Group (NYSE:SPG) opened at 196.48 on Tuesday. The stock’s 50 day moving average is $211.02 and its 200 day moving average is $209.74. Simon Property Group has a 52 week low of $176.11 and a 52 week high of $229.10. The company has a market capitalization of $61.74 billion, a P/E ratio of 34.90 and a beta of 0.75.

Simon Property Group (NYSE:SPG) last issued its quarterly earnings data on Wednesday, July 27th. The real estate investment trust reported $2.63 EPS for the quarter, topping analysts’ consensus estimates of $2.62 by $0.01. Simon Property Group had a net margin of 34.03% and a return on equity of 34.61%. The business earned $1.32 billion during the quarter, compared to analysts’ expectations of $1.33 billion. During the same period last year, the company posted $2.41 EPS. The business’s revenue was down 2.5% on a year-over-year basis. On average, equities research analysts expect that Simon Property Group will post $10.86 earnings per share for the current year.

In related news, SVP Steven K. Broadwater sold 945 shares of the business’s stock in a transaction that occurred on Thursday, September 1st. The shares were sold at an average price of $215.41, for a total transaction of $203,562.45. Following the completion of the transaction, the senior vice president now owns 2,965 shares in the company, valued at approximately $638,690.65. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CFO Andrew Juster sold 7,000 shares of the business’s stock in a transaction that occurred on Monday, August 29th. The stock was sold at an average price of $215.68, for a total transaction of $1,509,760.00. The disclosure for this sale can be found here. Corporate insiders own 8.50% of the company’s stock.

Several hedge funds and other institutional investors have recently bought and sold shares of the company. Chilton Capital Management LLC raised its position in Simon Property Group by 11.2% in the first quarter. Chilton Capital Management LLC now owns 199,521 shares of the real estate investment trust’s stock valued at $41,439,000 after buying an additional 20,152 shares during the period. Retirement Systems of Alabama raised its position in Simon Property Group by 0.3% in the second quarter. Retirement Systems of Alabama now owns 157,740 shares of the real estate investment trust’s stock valued at $34,214,000 after buying an additional 515 shares during the period. Cornerstone Real Estate Advisers LLC raised its position in Simon Property Group by 46.1% in the second quarter. Cornerstone Real Estate Advisers LLC now owns 148,357 shares of the real estate investment trust’s stock valued at $32,179,000 after buying an additional 46,819 shares during the period. Wellington Management Group LLP raised its position in Simon Property Group by 19.3% in the first quarter. Wellington Management Group LLP now owns 917,766 shares of the real estate investment trust’s stock valued at $190,610,000 after buying an additional 148,665 shares during the period. Finally, Standard Life Investments LTD raised its position in Simon Property Group by 9.3% in the second quarter. Standard Life Investments LTD now owns 202,513 shares of the real estate investment trust’s stock valued at $43,927,000 after buying an additional 17,297 shares during the period. Hedge funds and other institutional investors own 98.56% 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.

5 Day Chart for NYSE:SPG

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