Simon Property Group (NYSE:SPG) had its price target lifted by research analysts at Argus to $200.00 in a research report issued on Thursday, The Fly reports. The firm presently has a “buy” rating on the real estate investment trust’s stock. Argus’ price target would suggest a potential upside of 15.86% from the company’s previous close.

A number of other analysts also recently commented on SPG. Barclays boosted their price target on shares of Simon Property Group from $184.00 to $192.00 and gave the stock an “overweight” rating in a research report on Tuesday, July 17th. Jefferies Financial Group restated a “$170.72” rating and set a $194.00 price target on shares of Simon Property Group in a research report on Wednesday, July 18th. BMO Capital Markets restated a “buy” rating and set a $175.00 price target on shares of Simon Property Group in a research report on Monday, July 30th. Wells Fargo & Co boosted their price target on shares of Simon Property Group from $175.00 to $183.00 and gave the stock an “outperform” rating in a research report on Tuesday, July 31st. Finally, Citigroup boosted their price target on shares of Simon Property Group from $187.00 to $190.00 and gave the stock a “buy” rating in a research report on Tuesday, July 31st. Four equities research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company. Simon Property Group presently has an average rating of “Buy” and an average target price of $190.71.

Shares of NYSE:SPG opened at $172.62 on Thursday. The stock has a market capitalization of $56.62 billion, a P/E ratio of 15.40, a PEG ratio of 2.43 and a beta of 0.53. Simon Property Group has a fifty-two week low of $145.78 and a fifty-two week high of $186.03. The company has a debt-to-equity ratio of 6.13, a quick ratio of 1.13 and a current ratio of 1.13.

Simon Property Group (NYSE:SPG) last issued its quarterly earnings data on Monday, July 30th. The real estate investment trust reported $1.77 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $1.64 by $0.13. The firm had revenue of $1.39 billion for the quarter, compared to the consensus estimate of $1.38 billion. Simon Property Group had a net margin of 40.11% and a return on equity of 55.59%. Simon Property Group’s quarterly revenue was up 2.0% compared to the same quarter last year. During the same period last year, the firm posted $1.23 EPS. On average, research analysts expect that Simon Property Group will post 12.12 earnings per share for the current fiscal year.

In other Simon Property Group news, insider John Rulli sold 1,330 shares of the business’s stock in a transaction dated Monday, August 6th. The shares were sold at an average price of $177.05, for a total transaction of $235,476.50. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. 8.64% of the stock is currently owned by insiders.

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Dynamic Advisor Solutions LLC raised its holdings in shares of Simon Property Group by 2.5% in the 2nd quarter. Dynamic Advisor Solutions LLC now owns 11,601 shares of the real estate investment trust’s stock worth $1,974,000 after purchasing an additional 285 shares in the last quarter. Garland Capital Management Inc. raised its holdings in shares of Simon Property Group by 1.5% in the 2nd quarter. Garland Capital Management Inc. now owns 21,690 shares of the real estate investment trust’s stock worth $3,691,000 after purchasing an additional 320 shares in the last quarter. Alps Advisors Inc. raised its holdings in shares of Simon Property Group by 2.0% in the 2nd quarter. Alps Advisors Inc. now owns 16,519 shares of the real estate investment trust’s stock worth $2,837,000 after purchasing an additional 320 shares in the last quarter. Bogart Wealth LLC raised its holdings in shares of Simon Property Group by 3.2% in the 2nd quarter. Bogart Wealth LLC now owns 11,163 shares of the real estate investment trust’s stock worth $1,899,000 after purchasing an additional 341 shares in the last quarter. Finally, Boenning & Scattergood Inc. raised its holdings in shares of Simon Property Group by 5.2% in the 3rd quarter. Boenning & Scattergood Inc. now owns 6,913 shares of the real estate investment trust’s stock worth $1,222,000 after purchasing an additional 344 shares in the last quarter. Institutional investors and hedge funds own 93.88% 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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Analyst Recommendations for Simon Property Group (NYSE:SPG)

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