Simon Property Group (NYSE:SPG) : 17 analysts are covering Simon Property Group (NYSE:SPG) and their average rating on the stock is 1.59, which is read as a Buy. 12 equity analysts believe that the stock has a bright future and the price doesnt capture all of its upside, hence they rate the stock as a Strong Buy. Simon Property Group (NYSE:SPG) also receives 2 more Buy recommendations from analysts who believe that the stock will do well going forward. A Zacks Investment Research rank of 3, which recommends a Hold affirms that they expect a large upside in the stock from the current levels. However, 1 analysts consider that the stock has more downward risks ahead, hence, they suggest a Strong Sell on the stock. A total of 2 brokerage firms believe that the stock is fairly valued, hence they advise a Hold on the stock.
Simon Property Group (NYSE:SPG) : 14 investment research analysts covering Simon Property Group (NYSE:SPG) have an average price target of $223.07 for the near short term. The highest target price given by the Brokerage Firm to the stock is $254 and the lowest target is $160 for the short term. Analysts expect the variance to be within $21.93 of the average price.
For the current week, the company shares have a recommendation consensus of Buy. Also, Mizuho Securities initiates coverage on Simon Property Group (NYSE:SPG).The analysts at the brokerage house have a current rating of Buy on the shares. In a recent information released to the investors, Mizuho Securities announces the price target of $233 per share. The rating by the firm was issued on April 13, 2016.
Simon Property Group (NYSE:SPG): stock turned positive on Tuesday. Though the stock opened at $209.21, the bulls momentum made the stock top out at $213.22 level for the day. The stock recorded a low of $208 and closed the trading day at $213.09, in the green by 2.47%. The total traded volume for the day was 1,732,043. The stock had closed at $207.95 in the previous days trading.
In an insider trading activity, According to the information disclosed by the Securities and Exchange Commission in a Form 4 filing, the director of Simon Property Group Inc /De/, Hubbard Allan B, had purchased 136 shares in a transaction dated on April 28, 2016. The transaction was executed at $204.92 per share with total amount equaling $27,869.
Simon Property Group, Inc. is a self-administered and self-managed real estate investment trust (REIT). Simon Property Group, L.P. (Operating Partnership), is the Companys majority-owned partnership subsidiary that owns all of its real estate properties and other assets. The Company owns, develops and manages retail real estate properties, which consist primarily of malls, Premium Outlets and The Mills. As of December 31, 2014, the Company owned or held an interest in 207 properties in the United States, which consisted of 109 malls, 68 Premium Outlets, 13 Mills, three community centers, and 14 other retail properties in 37 states and Puerto Rico. As of December 31, 2014, the Company had ownership interests in nine Premium Outlets in Japan, three Premium Outlets in South Korea, two Premium Outlets in Canada, one Premium Outlet in Mexico and one Premium Outlet in Malaysia. As of December 31, 2014, the Company had non-controlling ownership interests in five outlet properties in Europe.