BMO Capital Initiates “Buy” Rating for Simon Property (NYSE:SPG) With a $78.0 Price Target

September 17, 2017 - By Ellis Scott

 BMO Capital Initiates

Investors sentiment decreased to 0.88 in 2016 Q4. Its down 0.12, from 1 in 2016Q3. It dropped, as 68 investors sold Simon Property Group Inc shares while 231 reduced holdings. 67 funds opened positions while 196 raised stakes. 292.32 million shares or 2.43% less from 299.60 million shares in 2016Q3 were reported.

Maryland Mngmt reported 0.04% of its portfolio in Simon Property Group Inc (NYSE:SPG). World Asset Mngmt stated it has 0.22% in Simon Property Group Inc (NYSE:SPG). 349,439 are owned by Nationwide Fund. Washington Tru reported 1,556 shares stake. Duncker Streett & Commerce invested 0.03% of its portfolio in Simon Property Group Inc (NYSE:SPG). Mirae Asset Global Ltd stated it has 16,836 shares. Glg Ltd Llc, New York-based fund reported 17,250 shares. Exane Derivatives accumulated 4,267 shares. Natixis Asset Mgmt stated it has 0.1% in Simon Property Group Inc (NYSE:SPG). Pub Sector Pension Investment Board reported 0.12% stake. Barrett Asset Mgmt Ltd Liability Corporation stated it has 0.02% of its portfolio in Simon Property Group Inc (NYSE:SPG). Moreover, Janus Management Ltd Company has 0.15% invested in Simon Property Group Inc (NYSE:SPG). Voloridge Invest Mgmt Ltd Liability Company reported 0.03% stake. Blair William Il invested 0.01% of its portfolio in Simon Property Group Inc (NYSE:SPG). Bokf Na stated it has 8,033 shares or 0.05% of all its holdings.

Since March 28, 2017, it had 1 insider buy, and 0 insider sales for $232,400 activity. On Tuesday, March 28 the insider LEIBOWITZ REUBEN S bought $232,400.

Why Has BMO Capital Given Simon Property (NYSE:SPG) a $78.0 Price Target

BMO Capital analyst has initiated coverage with a “Buy” rating on Simon Property (NYSE:SPG) today and set a price target of $78.0. The firm’s shares opened today at 0.

Investors sentiment decreased to 0.88 in 2016 Q4. Its down 0.12, from 1 in 2016Q3. It dropped, as 68 investors sold Simon Property Group Inc shares while 231 reduced holdings. 67 funds opened positions while 196 raised stakes. 292.32 million shares or 2.43% less from 299.60 million shares in 2016Q3 were reported.

Maryland Mngmt reported 0.04% of its portfolio in Simon Property Group Inc (NYSE:SPG). World Asset Mngmt stated it has 0.22% in Simon Property Group Inc (NYSE:SPG). 349,439 are owned by Nationwide Fund. Washington Tru reported 1,556 shares stake. Duncker Streett & Commerce invested 0.03% of its portfolio in Simon Property Group Inc (NYSE:SPG). Mirae Asset Global Ltd stated it has 16,836 shares. Glg Ltd Llc, New York-based fund reported 17,250 shares. Exane Derivatives accumulated 4,267 shares. Natixis Asset Mgmt stated it has 0.1% in Simon Property Group Inc (NYSE:SPG). Pub Sector Pension Investment Board reported 0.12% stake. Barrett Asset Mgmt Ltd Liability Corporation stated it has 0.02% of its portfolio in Simon Property Group Inc (NYSE:SPG). Moreover, Janus Management Ltd Company has 0.15% invested in Simon Property Group Inc (NYSE:SPG). Voloridge Invest Mgmt Ltd Liability Company reported 0.03% stake. Blair William Il invested 0.01% of its portfolio in Simon Property Group Inc (NYSE:SPG). Bokf Na stated it has 8,033 shares or 0.05% of all its holdings.

Since March 28, 2017, it had 1 insider buy, and 0 insider sales for $232,400 activity. On Tuesday, March 28 the insider LEIBOWITZ REUBEN S bought $232,400.

Simon Property Group Inc (NYSE:SPG) Ratings Coverage

Among 17 analysts covering Simon Property Group (NYSE:SPG), 11 have Buy rating, 0 Sell and 6 Hold. Therefore 65% are positive. Simon Property Group has $266 highest and $170.0 lowest target. $208.29’s average target is 26.41% above currents $164.77 stock price. Simon Property Group had 51 analyst reports since July 21, 2015 according to SRatingsIntel. The firm has “Sector Perform” rating by RBC Capital Markets given on Tuesday, August 2. The stock of Simon Property Group Inc (NYSE:SPG) earned “Hold” rating by Stifel Nicolaus on Sunday, August 27. The stock of Simon Property Group Inc (NYSE:SPG) earned “Hold” rating by Stifel Nicolaus on Friday, July 14. Stifel Nicolaus maintained Simon Property Group Inc (NYSE:SPG) rating on Monday, March 21. Stifel Nicolaus has “Buy” rating and $232 target. The company was initiated on Monday, September 11 by BMO Capital Markets. Suntrust Robinson downgraded the stock to “Hold” rating in Friday, January 20 report. The rating was maintained by Evercore on Tuesday, September 8 with “Buy”. The stock of Simon Property Group Inc (NYSE:SPG) earned “Hold” rating by Evercore on Monday, November 16. Jefferies maintained the shares of SPG in report on Monday, July 24 with “Buy” rating. RBC Capital Markets maintained Simon Property Group Inc (NYSE:SPG) on Tuesday, July 28 with “Outperform” rating.

The stock increased 0.62% or $1.02 on September 15, reaching $164.77. About 2.81M shares traded or 84.87% up from the average. Simon Property Group Inc (NYSE:SPG) has declined 18.56% since September 17, 2016 and is downtrending. It has underperformed by 35.26% the S&P500.

Analysts await Simon Property Group Inc (NYSE:SPG) to report earnings on October, 25. They expect $2.87 earnings per share, up 6.30 % or $0.17 from last year’s $2.7 per share. SPG’s profit will be $892.16M for 14.35 P/E if the $2.87 EPS becomes a reality. After $2.47 actual earnings per share reported by Simon Property Group Inc for the previous quarter, Wall Street now forecasts 16.19 % EPS growth.

Simon Property Group, Inc. is a self-administered and self-managed real estate investment trust . The company has market cap of $51.22 billion. The Firm owns, develops and manages retail real estate properties, which consist primarily of malls, Premium Outlets and The Mills. It has a 29.33 P/E ratio. Simon Property Group, L.P. (Operating Partnership), is the Company’s partnership subsidiary that owns all of its real estate properties and other assets.

More notable recent Simon Property Group Inc (NYSE:SPG) news were published by: Nasdaq.com which released: “Simon Property (SPG) Centers Will Add Flying Tiger Outlets” on September 08, 2017, also Nasdaq.com with their article: “Simon Property (SPG) Unveils Mix-Use Project at Clearfolk” published on September 15, 2017, Seekingalpha.com published: “Here’s Lots Of Sun And NOI Growth” on August 22, 2017. More interesting news about Simon Property Group Inc (NYSE:SPG) were released by: Newsday.com and their article: “Simon Property settles with AG over ‘anticompetitive tactics'” published on August 21, 2017 as well as Fortune.com‘s news article titled: “Starbucks Is Being Sued Over Its Plans to Close Teavana Stores” with publication date: September 01, 2017.

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