Goldman Sachs Downgrades Simon Property Group Inc to Neutral with Price Target $185

Brokerage firm Goldman Sachs Downgrades its rating on Simon Property Group Inc(SPG). As per the latest information, Goldman Sachs Lowers the price target to $185 per share from a prior target of $207. The shares have been rated Neutral. Previously, the analysts had a Buy rating on the shares. The rating by the stock financial advisor at Goldman Sachs was issued on Mar 17, 2017 in a research report to their Investors and Clients.

In a different note, On Jan 19, 2017, SunTrust Robinson Humphrey said it Downgrades its rating on Simon Property Group Inc. The shares have been rated ‘Hold’ by the firm.

Simon Property Group Inc (SPG) shares turned negative on Wednesdays trading session with the shares closing down -3.56 points or -2.11% at a volume of 25,54,701. The pessimistic mood was evident in the company shares which never went considerably beyond the level of $169. The peak price level was also seen at $169 while the days lowest was $163.55. Finally the shares closed at $165.4. The 52-week high of the shares is $229.1 while the 52-week low is $163.55. According to the latest information available, the market cap of the company is $52,900 M.

Simon Property Group Inc(SPG) last announced its earnings results on Oct 26, 2016 for Fiscal Year 2016 and Q3.Company reported revenue of $1.36B. Analysts had an estimated revenue of $1.35B. Earnings per share were $2.70. The reported EPS was above estimates by $0.02 or 0.75%. Analysts had estimated an EPS of $2.68.

Several Insider Transactions has been reported to the SEC. On Sep 6, 2016, Steven K. Broadwater (SVP & Chief Accounting Officer) sold 945 shares at $215.41 per share price.Also, On Aug 29, 2016, Andrew Juster (EVP/Chief Financial Officer) sold 7,000 shares at $215.70 per share price.On Apr 28, 2016, Allan B Hubbard (director) purchased 136 shares at $204.92 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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