Weekly Investment Analysts’ Ratings Changes for Simon Property Group (SPG)

Simon Property Group (NYSE: SPG) has recently received a number of price target changes and ratings updates:

  • 3/20/2017 – Simon Property Group was upgraded by analysts at Zacks Investment Research from a “sell” rating to a “hold” rating. According to Zacks, “Recently, Simon Property extended & amended its $4 billion unsecured revolving credit facility. Also, the company extended its $2 billion stock repurchase program by 2 years. In Jan, the company reported better-than-expected fourth-quarter 2016 adjusted funds from operations (FFO) per share. It also declared a sequential dividend hike of 6.1%, which is encouraging. Notably, with exposure to various retail assets, adoption of omni-channel policies, portfolio-restructuring moves and a robust balance sheet, the company is expected to ride the growth curve amid a recovering economy. But, rise in online sales is a concern as it cuts the demand for retail real estate space, affecting occupancy and rent growth. Also, hike in the interest rate is a concern. Shares of the company underperformed the Zacks-categorized REIT and Equity Trust – Retail industry over the past 3 months. Its FFO estimate for 2017 moved down over the last 30 days.”
  • 3/17/2017 – Simon Property Group was downgraded by analysts at Goldman Sachs Group Inc from a “buy” rating to a “neutral” rating. They now have a $185.00 price target on the stock, down previously from $207.00.
  • 3/17/2017 – Simon Property Group was upgraded by analysts at Hilliard Lyons from a “neutral” rating to a “buy” rating. They now have a $197.00 price target on the stock. They noted that the move was a valuation call. They noted that the move was a valuation call.
  • 3/7/2017 – Simon Property Group was downgraded by analysts at Zacks Investment Research from a “hold” rating to a “sell” rating. According to Zacks, “Recently, Simon Property announced the extension of its $2 billion stock repurchase program by two years. Also, in January, the company reported better-than-expected fourth-quarter 2016 adjusted funds from operations (FFO) per share. Nevertheless, rising online sales has emerged as a pressing concern as it curtails the demand for retail real estate space, thereby affecting occupancy and rent growth. While the company is striving to counter such pressure through various initiatives, the implementation of such measures requires a decent upfront cost and is anticipated to limit any robust growth in its profit margins in the near term. Also, hike in the interest rate has added to its woes. As such, though over the past one month, shares of Simon Property outperformed the Zacks-categorized REIT and Equity Trust – Retail industry, lately its full year 2017 estimates moved south.”
  • 2/1/2017 – Simon Property Group had its “buy” rating reaffirmed by analysts at BTIG Research. They now have a $231.00 price target on the stock.
  • 1/23/2017 – Simon Property Group had its price target lowered by analysts at Barclays PLC from $247.00 to $202.00. They now have an “overweight” rating on the stock.
  • 1/19/2017 – Simon Property Group was downgraded by analysts at SunTrust Banks, Inc. from a “buy” rating to a “hold” rating. They noted that the move was a valuation call. They noted that the move was a valuation call.

Simon Property Group Inc (NYSE:SPG) traded up 0.05% during midday trading on Monday, hitting $168.11. The company had a trading volume of 1,075,960 shares. The company has a market capitalization of $52.63 billion, a P/E ratio of 28.64 and a beta of 0.60. The stock has a 50 day moving average price of $178.93 and a 200 day moving average price of $188.22. Simon Property Group Inc has a 52 week low of $166.65 and a 52 week high of $229.10.

Simon Property Group (NYSE:SPG) last posted its quarterly earnings data on Tuesday, January 31st. The real estate investment trust reported $2.53 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.48 by $1.05. The business earned $1.43 billion during the quarter, compared to analyst estimates of $1.46 billion. Simon Property Group had a return on equity of 39.00% and a net margin of 35.11%. The company’s revenue for the quarter was up 3.3% on a year-over-year basis. During the same period last year, the company earned $2.40 EPS. Equities analysts forecast that Simon Property Group Inc will post $6.61 earnings per share for the current fiscal year.

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, February 28th. Stockholders of record on Tuesday, February 14th were paid a $1.75 dividend. This represents a $7.00 annualized dividend and a dividend yield of 4.16%. This is a positive change from Simon Property Group’s previous quarterly dividend of $1.65. The ex-dividend date of this dividend was Friday, February 10th. Simon Property Group’s dividend payout ratio (DPR) is presently 119.25%.

Simon Property Group, Inc is a self-administered and self-managed real estate investment trust (REIT). The Company owns, develops and manages retail real estate properties, which consist primarily of malls, Premium Outlets and The Mills. Simon Property Group, L.P. (Operating Partnership), is the Company’s partnership subsidiary that owns all of its real estate properties and other assets.

5 Day Chart for NYSE:SPG

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