BMO Capital: Time To Buy Simon Property (NYSE:SPG)? Has $78.0 Valuation Target

September 17, 2017 - By Adrian Erickson

 BMO Capital: Time To Buy Simon Property (NYSE:SPG)? Has $78.0 Valuation Target

Investors sentiment decreased to 0.88 in 2016 Q4. Its down 0.12, from 1 in 2016Q3. It dived, 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.

204,142 were reported by Fil. Bartlett Lc has invested 0% in Simon Property Group Inc (NYSE:SPG). 11,441 are held by Raymond James Financial Services Advsrs. Moreover, Maryland Capital Mgmt has 0.04% invested in Simon Property Group Inc (NYSE:SPG). Jones Finance Companies Lllp invested in 5,101 shares. Livforsakringsbolaget Skandia Omsesidigt reported 0.17% in Simon Property Group Inc (NYSE:SPG). Arcadia Mgmt Corp Mi invested in 0.06% or 1,037 shares. Sterling Lc has invested 0.07% of its portfolio in Simon Property Group Inc (NYSE:SPG). M&T National Bank Corp invested in 0.09% or 80,412 shares. Keybank Natl Association Oh accumulated 16,639 shares. Private Trust Company Na invested 0.08% of its portfolio in Simon Property Group Inc (NYSE:SPG). The Washington-based Cornerstone Advsr has invested 0.14% in Simon Property Group Inc (NYSE:SPG). Moreover, Stratos Wealth Partners Limited has 0.01% invested in Simon Property Group Inc (NYSE:SPG) for 1,310 shares. Jacobs Levy Equity Management Inc holds 0.24% or 68,904 shares. Commonwealth Ltd Company holds 0.02% of its portfolio in Simon Property Group Inc (NYSE:SPG) for 93 shares.

Since March 28, 2017, it had 1 buying transaction, and 0 insider sales for $232,400 activity. The insider LEIBOWITZ REUBEN S bought 1,400 shares worth $232,400.

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

Analysts at BMO Capital initiated coverage on shares of Simon Property (NYSE:SPG) in a report issued to investors and clients on Monday, 11 September. The financial firm set Buy rating on the $51.22 billion market cap company.

Investors sentiment decreased to 0.88 in 2016 Q4. Its down 0.12, from 1 in 2016Q3. It dived, 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.

204,142 were reported by Fil. Bartlett Lc has invested 0% in Simon Property Group Inc (NYSE:SPG). 11,441 are held by Raymond James Financial Services Advsrs. Moreover, Maryland Capital Mgmt has 0.04% invested in Simon Property Group Inc (NYSE:SPG). Jones Finance Companies Lllp invested in 5,101 shares. Livforsakringsbolaget Skandia Omsesidigt reported 0.17% in Simon Property Group Inc (NYSE:SPG). Arcadia Mgmt Corp Mi invested in 0.06% or 1,037 shares. Sterling Lc has invested 0.07% of its portfolio in Simon Property Group Inc (NYSE:SPG). M&T National Bank Corp invested in 0.09% or 80,412 shares. Keybank Natl Association Oh accumulated 16,639 shares. Private Trust Company Na invested 0.08% of its portfolio in Simon Property Group Inc (NYSE:SPG). The Washington-based Cornerstone Advsr has invested 0.14% in Simon Property Group Inc (NYSE:SPG). Moreover, Stratos Wealth Partners Limited has 0.01% invested in Simon Property Group Inc (NYSE:SPG) for 1,310 shares. Jacobs Levy Equity Management Inc holds 0.24% or 68,904 shares. Commonwealth Ltd Company holds 0.02% of its portfolio in Simon Property Group Inc (NYSE:SPG) for 93 shares.

Since March 28, 2017, it had 1 buying transaction, and 0 insider sales for $232,400 activity. The insider LEIBOWITZ REUBEN S bought 1,400 shares worth $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 rating was upgraded by Goldman Sachs to “Buy” on Tuesday, June 20. The firm has “Sector Perform” rating by RBC Capital Markets given on Tuesday, November 1. The company was initiated on Monday, September 11 by BMO Capital Markets. As per Tuesday, August 8, the company rating was maintained by Barclays Capital. On Monday, July 24 the stock rating was maintained by Jefferies with “Buy”. The firm earned “Hold” rating on Friday, January 20 by SunTrust. The firm has “Hold” rating given on Wednesday, August 26 by Zacks. Stifel Nicolaus maintained Simon Property Group Inc (NYSE:SPG) rating on Sunday, August 27. Stifel Nicolaus has “Hold” rating and $170.0 target. Evercore downgraded the stock to “Hold” rating in Monday, November 16 report. The stock of Simon Property Group Inc (NYSE:SPG) has “Buy” rating given on Tuesday, August 1 by Canaccord Genuity.

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 expect Simon Property Group Inc (NYSE:SPG) to report $2.87 EPS on October, 25.They anticipate $0.17 EPS change or 6.30 % from last quarter’s $2.7 EPS. SPG’s profit would be $892.16 million giving it 14.35 P/E if the $2.87 EPS is correct. After having $2.47 EPS previously, Simon Property Group Inc’s analysts see 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 Group Stock Sees Short Interest Expand By 14.7%” on September 13, 2017, also Nasdaq.com with their article: “Simon Property (SPG) Centers Will Add Flying Tiger Outlets” published on September 08, 2017, Ibj.com published: “Simon sues Starbucks in bid to block mass Teavana closings” on August 28, 2017. More interesting news about Simon Property Group Inc (NYSE:SPG) were released by: Fortune.com and their article: “Starbucks Is Being Sued Over Its Plans to Close Teavana Stores” published on September 01, 2017 as well as Newsday.com‘s news article titled: “Simon Property settles with AG over ‘anticompetitive tactics'” with publication date: August 21, 2017.

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