Stifel Nicolaus Maintains Simon Property Group Inc to Buy with Price Target $240.00

Brokerage firm Stifel Nicolaus Maintains its rating on Simon Property Group Inc(NYSE:SPG). In a research note issued to the investors, the brokerage major Raises the price-target to $240.00 per share. The shares have been rated Buy. The rating by Stifel Nicolaus was issued on Aug 1, 2016.

In a different note, On Jul 19, 2016, Barclays said it Maintains its rating on Simon Property Group Inc. In the research note, the firm Raises the price-target to $254.00 per share. The shares have been rated ‘Overweight’ by the firm.

Simon Property Group Inc (SPG) made into the market gainers list on Mondays trading session with the shares advancing 0.12% or 0.26 points. Due to strong positive momentum, the stock ended at $219.97, which is also near the day’s high of $222.37. The stock began the session at $219.69 and the volume stood at 11,47,483 shares. The 52-week high of the shares is $229.1 and the 52 week low is $173.09. The company has a current market capitalization of $69,122 M and it has 31,42,31,620 shares in outstanding.

Simon Property Group Inc has also declared a cash dividend of $1.6500 on Jul 27, 2016. The shares will quote ex-dividend on Aug 15, 2016 and the record date has been fixed on Aug 17, 2016. The dividend payable date has been fixed on Aug 31, 2016.

Simon Property Group Inc(SPG) last announced its earnings results on Jul 27, 2016 for Fiscal Year 2016 and Q2.Company reported revenue of $1.31B. Analysts had an estimated revenue of $1.33B. Earnings per share were $2.63. Analysts had estimated an EPS of $2.62.

Several Insider Transactions has been reported to the SEC. On Apr 28, 2016, Allan B Hubbard (director) purchased 136 shares at $204.92 per share price.Also, On Mar 22, 2016, David J Contis (Sr. EVP/Pres.- Simon Malls) sold 11,000 shares at $202.63 per share price.On Aug 18, 2015, Steven K. Broadwater (SVP & Chief Accounting Officer) sold 1,489 shares at $194.17 per share price, according to the Form-4 filing with the securities and exchange commission.

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 Company’s 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.

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