Canaccord Genuity Reiterates Simon Property Group Inc to Buy with Price Target $224

Brokerage firm Canaccord Genuity Reiterates its rating on Simon Property Group Inc(SPG). As per the latest information, Canaccord Genuity Lowers the price target to $224 per share from a prior target of $250. The shares have been rated Buy. The rating by the stock financial advisor at Canaccord Genuity was issued on Mar 27, 2017 in a research report to their Investors and Clients.

In a different note, On Mar 17, 2017, Goldman Sachs said it Downgrades its rating on Simon Property Group Inc. According to the research note, Goldman Sachs Lowers the price target to $185 per share from a prior target of $207. The shares have been rated ‘Neutral’ by the firm. 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) made into the market gainers list on Fridays trading session with the shares advancing 0.23% or 0.39 points. Due to strong positive momentum, the stock ended at $167.95, which is also near the day’s high of $168.35. The stock began the session at $167.9 and the volume stood at 15,45,860 shares. The 52-week high of the shares is $229.1 and the 52 week low is $163.55. The company has a current market capitalization of $53,716 M and it has 31,98,32,220 shares in outstanding.

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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