Simon Property Group (NYSE:SPG) Rating Increased to Hold at ValuEngine

Simon Property Group (NYSE:SPG) was upgraded by stock analysts at ValuEngine from a “sell” rating to a “hold” rating in a research report issued to clients and investors on Friday, ValuEngine reports.

A number of other research analysts also recently weighed in on SPG. Morgan Stanley lowered their price objective on shares of Simon Property Group from $170.00 to $157.00 and set an “equal weight” rating on the stock in a research report on Tuesday, September 3rd. Citigroup downgraded shares of Simon Property Group from a “buy” rating to a “neutral” rating and lowered their price objective for the company from $187.00 to $170.00 in a research report on Monday, September 23rd. SunTrust Banks lowered their price objective on shares of Simon Property Group from $185.00 to $160.00 and set a “hold” rating on the stock in a research report on Friday, August 23rd. Finally, Barclays set a $218.00 price objective on shares of Simon Property Group and gave the company a “buy” rating in a research report on Friday, October 11th. Nine research analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. The stock currently has an average rating of “Hold” and an average price target of $184.30.

Shares of NYSE SPG opened at $154.44 on Friday. The firm’s 50 day moving average price is $152.31 and its 200-day moving average price is $161.61. The company has a market cap of $47.59 billion, a PE ratio of 12.73, a P/E/G ratio of 2.88 and a beta of 0.54. Simon Property Group has a 52-week low of $145.28 and a 52-week high of $191.49. The company has a debt-to-equity ratio of 7.02, a quick ratio of 0.99 and a current ratio of 0.99.

Simon Property Group (NYSE:SPG) last issued its earnings results on Wednesday, July 31st. The real estate investment trust reported $2.99 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.98 by $0.01. The firm had revenue of $1.40 billion for the quarter, compared to the consensus estimate of $1.39 billion. Simon Property Group had a net margin of 40.48% and a return on equity of 63.49%. The business’s revenue was up .7% on a year-over-year basis. During the same quarter in the prior year, the firm posted $2.98 earnings per share. On average, analysts forecast that Simon Property Group will post 12.23 earnings per share for the current fiscal year.

A number of institutional investors have recently modified their holdings of SPG. Charter Trust Co. increased its holdings in Simon Property Group by 21.0% during the second quarter. Charter Trust Co. now owns 9,916 shares of the real estate investment trust’s stock valued at $1,584,000 after buying an additional 1,722 shares during the last quarter. Fort Washington Investment Advisors Inc. OH increased its holdings in Simon Property Group by 8.7% during the second quarter. Fort Washington Investment Advisors Inc. OH now owns 720,975 shares of the real estate investment trust’s stock valued at $115,183,000 after buying an additional 57,589 shares during the last quarter. Crossmark Global Holdings Inc. increased its holdings in Simon Property Group by 0.8% during the third quarter. Crossmark Global Holdings Inc. now owns 23,417 shares of the real estate investment trust’s stock valued at $3,645,000 after buying an additional 183 shares during the last quarter. Bank of The West increased its holdings in Simon Property Group by 58.2% during the second quarter. Bank of The West now owns 23,336 shares of the real estate investment trust’s stock valued at $3,728,000 after buying an additional 8,581 shares during the last quarter. Finally, CWM LLC increased its holdings in Simon Property Group by 49.2% during the second quarter. CWM LLC now owns 482 shares of the real estate investment trust’s stock valued at $77,000 after buying an additional 159 shares during the last quarter. Institutional investors own 95.62% of the company’s stock.

About Simon Property Group

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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