Imperial Capital Boosts Price Target on Simon Properties (SPG)
Investment analysts at Imperial Capital lifted their target price on shares of Simon Properties (NYSE: SPG) from $152.00 to $162.00 in a note issued to investors on Tuesday. The firm currently has an “outperform” rating on the stock.
Shares of Simon Properties opened at 157.58 on Tuesday. Simon Properties has a 52 week low of $99.60 and a 52 week high of $158.60. The company has a market cap of $46.919 billion and a P/E ratio of 45.28.
The company last announced its quarterly results on Friday, April 27th. It reported $1.82 earnings per share (EPS) for the previous quarter, beating the Thomson Reuters consensus estimate of $1.67 EPS by $0.15. The company’s quarterly revenue was up 9.7% on a year-over-year basis. On average, analysts predict that Simon Properties will post $1.88 earnings per share next quarter.
A number of other firms have also recently commented on SPG. Analysts at Zacks reiterated a “neutral” rating on shares of Simon Properties in a research note to investors on Monday. They now have a $163.00 price target on the stock. Separately, analysts at Deutsche Bank (NYSE: DB) raised their price target on shares of Simon Properties to $148.00 in a research note to investors on Wednesday, February 8th. Finally, analysts at UBS AG (NYSE: UBS) raised their price target on shares of Simon Properties from $125.00 to $136.00 in a research note to investors on Tuesday, February 7th. They now have a “neutral” rating on the stock.
Simon Property Group, Inc. (Simon) is a real estate company. Simon owns or has an interest in 392 retail real estate properties, including regional malls, Premium Outlets, The Mills, community/lifestyle centers and international properties comprising 262 million square feet of gross leasable area in North America, Europe and Asia.