Simon Property Group (NYSE:SPG) Now Covered by Analysts at LADENBURG THALM/SH SH

Research analysts at LADENBURG THALM/SH SH initiated coverage on shares of Simon Property Group (NYSE:SPG - Get Free Report) in a report issued on Friday,Briefing.com Automated Import reports. The firm set a "buy" rating and a $225.00 price target on the real estate investment trust's stock. LADENBURG THALM/SH SH's target price indicates a potential upside of 37.67% from the stock's previous close.

Several other research analysts have also weighed in on the stock. Barclays initiated coverage on shares of Simon Property Group in a research note on Wednesday, July 2nd. They set an "equal weight" rating and a $170.00 price objective on the stock. JPMorgan Chase & Co. decreased their target price on shares of Simon Property Group from $192.00 to $180.00 and set a "neutral" rating on the stock in a research report on Thursday, May 22nd. Scotiabank upped their price target on shares of Simon Property Group from $159.00 to $163.00 and gave the stock a "sector perform" rating in a report on Tuesday, June 17th. Stifel Nicolaus upped their price target on shares of Simon Property Group from $168.50 to $180.00 and gave the stock a "buy" rating in a report on Tuesday, May 13th. Finally, Mizuho dropped their price objective on shares of Simon Property Group from $182.00 to $169.00 and set a "neutral" rating for the company in a research note on Tuesday, June 10th. Seven investment analysts have rated the stock with a hold rating and five have given a buy rating to the stock. Based on data from MarketBeat, Simon Property Group currently has an average rating of "Hold" and a consensus price target of $182.73.

Simon Property Group Price Performance

Shares of Simon Property Group stock traded up $0.70 during midday trading on Friday, reaching $163.43. The company had a trading volume of 83,786 shares, compared to its average volume of 1,540,521. The stock has a fifty day simple moving average of $161.33 and a 200 day simple moving average of $165.83. The company has a current ratio of 1.45, a quick ratio of 1.45 and a debt-to-equity ratio of 8.29. Simon Property Group has a 1-year low of $136.34 and a 1-year high of $190.14. The company has a market capitalization of $53.35 billion, a price-to-earnings ratio of 25.99, a price-to-earnings-growth ratio of 10.89 and a beta of 1.43.

Simon Property Group (NYSE:SPG - Get Free Report) last announced its quarterly earnings results on Monday, May 12th. The real estate investment trust reported $2.95 earnings per share for the quarter, topping analysts' consensus estimates of $2.91 by $0.04. The company had revenue of $1.47 billion for the quarter, compared to analysts' expectations of $1.34 billion. Simon Property Group had a net margin of 35.98% and a return on equity of 67.32%. The business's quarterly revenue was up 2.1% compared to the same quarter last year. During the same period last year, the firm posted $3.56 earnings per share. As a group, equities research analysts forecast that Simon Property Group will post 12.54 earnings per share for the current year.

Insider Buying and Selling

In other news, Director Gary M. Rodkin bought 246 shares of the firm's stock in a transaction on Monday, June 30th. The shares were bought at an average cost of $159.29 per share, for a total transaction of $39,185.34. Following the completion of the transaction, the director owned 19,010 shares in the company, valued at $3,028,102.90. This trade represents a 1.31% increase in their ownership of the stock. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Glyn Aeppel bought 234 shares of Simon Property Group stock in a transaction that occurred on Monday, June 30th. The shares were acquired at an average price of $159.29 per share, for a total transaction of $37,273.86. Following the completion of the transaction, the director directly owned 19,057 shares of the company's stock, valued at $3,035,589.53. This trade represents a 1.24% increase in their position. The disclosure for this purchase can be found here. Insiders have bought a total of 2,386 shares of company stock worth $380,066 in the last ninety days. Company insiders own 8.66% of the company's stock.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently bought and sold shares of SPG. Pitcairn Co. increased its position in Simon Property Group by 0.6% in the 4th quarter. Pitcairn Co. now owns 9,895 shares of the real estate investment trust's stock valued at $1,704,000 after acquiring an additional 55 shares during the period. Colonial Trust Co SC increased its stake in shares of Simon Property Group by 37.5% in the fourth quarter. Colonial Trust Co SC now owns 209 shares of the real estate investment trust's stock worth $36,000 after purchasing an additional 57 shares during the period. HighPoint Advisor Group LLC increased its stake in Simon Property Group by 1.8% during the fourth quarter. HighPoint Advisor Group LLC now owns 3,396 shares of the real estate investment trust's stock valued at $626,000 after acquiring an additional 60 shares during the period. Great Lakes Advisors LLC increased its stake in Simon Property Group by 3.7% during the first quarter. Great Lakes Advisors LLC now owns 1,908 shares of the real estate investment trust's stock valued at $317,000 after acquiring an additional 68 shares during the period. Finally, Wedmont Private Capital boosted its holdings in shares of Simon Property Group by 1.0% in the 2nd quarter. Wedmont Private Capital now owns 7,040 shares of the real estate investment trust's stock worth $1,147,000 after acquiring an additional 68 shares in the last quarter. Hedge funds and other institutional investors own 93.01% of the company's stock.

About Simon Property Group

Simon Property Group, Inc NYSE: SPG is a self-administered and self-managed real estate investment trust (REIT). Simon Property Group, L.P., or the Operating Partnership, is our majority-owned partnership subsidiary that owns all of our real estate properties and other assets. In this package, the terms Simon, we, our, or the Company refer to Simon Property Group, Inc, the Operating Partnership, and its subsidiaries.

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