Another Recommendation On Wall Street for Simon Property (NYSE:SPG). This time with a $78.0 Share Target Price

September 17, 2017 - By Peter Erickson

 Another Recommendation On Wall Street for Simon Property (NYSE:SPG). This time with a $78.0 Share Target Price

Investors sentiment decreased to 0.88 in 2016 Q4. Its down 0.12, from 1 in 2016Q3. It worsened, as 68 investors sold Simon Property Group Inc shares while 231 reduced holdings. 67 funds opened positions while 196 raised stakes. 292.32 million shares or 2.43% less from 299.60 million shares in 2016Q3 were reported.

Stifel Financial reported 0.17% stake. Cohen Klingenstein Ltd Liability Com stated it has 3,100 shares. The Korea-based Korea has invested 0.18% in Simon Property Group Inc (NYSE:SPG). Daiwa Secs Grp holds 7.3% or 6.41M shares in its portfolio. Mason Street Advsr Lc owns 42,985 shares. First Citizens Commercial Bank reported 2,458 shares. The Ontario – Canada-based Financial Bank Of Montreal Can has invested 0.1% in Simon Property Group Inc (NYSE:SPG). Clinton Group Inc holds 84,879 shares. Hl Service Ltd Liability Co reported 0.01% in Simon Property Group Inc (NYSE:SPG). Aperio Gru Limited Liability Corp has invested 0.14% in Simon Property Group Inc (NYSE:SPG). Tompkins Financial Corporation stated it has 365 shares. Thompson Davis And has invested 0.03% in Simon Property Group Inc (NYSE:SPG). State Of Tennessee Treasury Department, Tennessee-based fund reported 217,935 shares. Heitman Real Est Ltd Liability Co, Illinois-based fund reported 493,643 shares. Cornerstone Cap Ltd reported 145,985 shares stake.

Since March 28, 2017, it had 1 buy, and 0 sales for $232,400 activity. 1,400 shares were bought by LEIBOWITZ REUBEN S, worth $232,400 on Tuesday, March 28.

Why Has BMO Capital Given Simon Property (NYSE:SPG) a $78.0 Price Target

BMO Capital analyst initiated coverage on Simon Property (NYSE:SPG) with a $78.0 target and Buy rating. The target indicates a potential downside of -52.66 % from firm’s last stock close price.

Investors sentiment decreased to 0.88 in 2016 Q4. Its down 0.12, from 1 in 2016Q3. It worsened, as 68 investors sold Simon Property Group Inc shares while 231 reduced holdings. 67 funds opened positions while 196 raised stakes. 292.32 million shares or 2.43% less from 299.60 million shares in 2016Q3 were reported.

Stifel Financial reported 0.17% stake. Cohen Klingenstein Ltd Liability Com stated it has 3,100 shares. The Korea-based Korea has invested 0.18% in Simon Property Group Inc (NYSE:SPG). Daiwa Secs Grp holds 7.3% or 6.41M shares in its portfolio. Mason Street Advsr Lc owns 42,985 shares. First Citizens Commercial Bank reported 2,458 shares. The Ontario – Canada-based Financial Bank Of Montreal Can has invested 0.1% in Simon Property Group Inc (NYSE:SPG). Clinton Group Inc holds 84,879 shares. Hl Service Ltd Liability Co reported 0.01% in Simon Property Group Inc (NYSE:SPG). Aperio Gru Limited Liability Corp has invested 0.14% in Simon Property Group Inc (NYSE:SPG). Tompkins Financial Corporation stated it has 365 shares. Thompson Davis And has invested 0.03% in Simon Property Group Inc (NYSE:SPG). State Of Tennessee Treasury Department, Tennessee-based fund reported 217,935 shares. Heitman Real Est Ltd Liability Co, Illinois-based fund reported 493,643 shares. Cornerstone Cap Ltd reported 145,985 shares stake.

Since March 28, 2017, it had 1 buy, and 0 sales for $232,400 activity. 1,400 shares were bought by LEIBOWITZ REUBEN S, worth $232,400 on Tuesday, March 28.

Simon Property Group Inc (NYSE:SPG) Ratings Coverage

Among 17 analysts covering Simon Property Group (NYSE:SPG), 11 have Buy rating, 0 Sell and 6 Hold. Therefore 65% are positive. Simon Property Group has $266 highest and $170.0 lowest target. $208.29’s average target is 26.41% above currents $164.77 stock price. Simon Property Group had 51 analyst reports since July 21, 2015 according to SRatingsIntel. The company was maintained on Tuesday, August 8 by Barclays Capital. RBC Capital Markets maintained Simon Property Group Inc (NYSE:SPG) rating on Tuesday, July 28. RBC Capital Markets has “Outperform” rating and $210 target. The stock has “Overweight” rating by Barclays Capital on Wednesday, August 5. On Wednesday, August 26 the stock rating was upgraded by Zacks to “Hold”. Boenning & Scattergood maintained the shares of SPG in report on Wednesday, August 2 with “Buy” rating. As per Wednesday, July 22, the company rating was initiated by Canaccord Genuity. Citigroup maintained the shares of SPG in report on Friday, April 1 with “Buy” rating. Evercore upgraded it to “Buy” rating and $213 target in Monday, March 7 report. Jefferies maintained the shares of SPG in report on Friday, June 16 with “Buy” rating. The rating was downgraded by Zacks on Monday, August 17 to “Buy”.

The stock increased 0.62% or $1.02 on September 15, reaching $164.77. About 2.81M shares traded or 84.87% up from the average. Simon Property Group Inc (NYSE:SPG) has declined 18.56% since September 17, 2016 and is downtrending. It has underperformed by 35.26% the S&P500.

Analysts await Simon Property Group Inc (NYSE:SPG) to report earnings on October, 25. They expect $2.87 EPS, up 6.30 % or $0.17 from last year’s $2.7 per share. SPG’s profit will be $892.16 million for 14.35 P/E if the $2.87 EPS becomes a reality. After $2.47 actual EPS reported by Simon Property Group Inc for the previous quarter, Wall Street now forecasts 16.19 % EPS growth.

Simon Property Group, Inc. is a self-administered and self-managed real estate investment trust . The company has market cap of $51.22 billion. The Firm owns, develops and manages retail real estate properties, which consist primarily of malls, Premium Outlets and The Mills. It has a 29.33 P/E ratio. Simon Property Group, L.P. (Operating Partnership), is the Company’s partnership subsidiary that owns all of its real estate properties and other assets.

More notable recent Simon Property Group Inc (NYSE:SPG) news were published by: Nasdaq.com which released: “Simon Property (SPG) Centers Will Add Flying Tiger Outlets” on September 08, 2017, also Seekingalpha.com with their article: “Here’s Lots Of Sun And NOI Growth” published on August 22, 2017, Newsday.com published: “Simon Property settles with AG over ‘anticompetitive tactics'” on August 21, 2017. More interesting news about Simon Property Group Inc (NYSE:SPG) were released by: Nasdaq.com and their article: “Simon Property (SPG) Unveils Mix-Use Project at Clearfolk” published on September 15, 2017 as well as Ibj.com‘s news article titled: “Simon sues Starbucks in bid to block mass Teavana closings” with publication date: August 28, 2017.

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