Simon Property Group (NYSE:SPG) was upgraded by investment analysts at Morgan Stanley from an “equal weight” rating to an “overweight” rating in a note issued to investors on Monday, AnalystRatingsNetwork reports. The firm currently has a $186.00 price target on the stock, up from their previous price target of $180.00. Morgan Stanley’s price objective points to a potential upside of 24.12% from the stock’s previous close. The analysts noted that the move was a valuation call.
Simon Property Group (NYSE:SPG) opened at 149.85 on Monday. Simon Property Group has a 52-week low of $142.47 and a 52-week high of $182.45. The stock has a 50-day moving average of $154. and a 200-day moving average of $157.. The company has a market cap of $46.503 billion and a P/E ratio of 37.23.
Simon Property Group (NYSE:SPG) last posted its quarterly earnings results on Friday, October 25th. The company reported $2.21 EPS for the quarter, beating the Thomson Reuters consensus estimate of $2.16 by $0.05. The company had revenue of $1.30 billion for the quarter. During the same quarter in the previous year, the company posted $1.99 earnings per share. The company’s revenue for the quarter was up 6.1% on a year-over-year basis. On average, analysts predict that Simon Property Group will post $8.79 earnings per share for the current fiscal year.
Several other analysts have also recently commented on the stock. Analysts at Barclays raised their price target on shares of Simon Property Group from $172.00 to $186.00 in a research note to investors on Wednesday, November 6th. They now have an “overweight” rating on the stock. Separately, analysts at Jefferies Group raised their EPS on shares of Simon Property Group in a research note to investors on Tuesday, October 29th. They now have a $180.00 price target on the stock. They previously had a $173.00 price target on the stock. Finally, analysts at RBC Capital raised their price target on shares of Simon Property Group from $200.00 to $205.00 in a research note to investors on Monday, October 28th. They now have an “outperform” rating on the stock. Three investment analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company’s stock. The company currently has a consensus rating of “Buy” and a consensus target price of $180.77.
Simon Property Group, Inc(NYSE:SPG), is a self-administered and self-managed real estate investment trust (REIT).
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