A statement released earlier today by Canaccord Genuity about Simon Property Group (NYSE:SPG) raises the target price to $250.00
- Updated: September 17, 2016
Canaccord Genuity raised the price target of Simon Property Group (NYSE:SPG) to $250, reporting a possible upside of 0.19%.
Only yesterday Simon Property Group (NYSE:SPG) traded 0.39% higher at $210.91. The company’s 50-day average is $217.04 and its 200-day moving average is $208.80. The last stock close is up 0.03% from the 200-day average, compared to the S&P 500 Index which has fallen -0.01% over the same time period. 2,460,596 shares of the stock traded, up from ann average volume of 1,222,320.
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With a total market value of $0.0, Simon Property Group has a one-year low of $176.11 and a 52 week high of $229.10 with a PE ratio of 37.
In addition to Canaccord Genuity reporting it’s target price, a total of 19 brokerages have released a ratings update on the company. The consensus target stock price is $221.21 with seven firms rating the stock a strong buy, 13 firms rating the stock a buy, two analyts rating the stock a hold, one firm rating the company to underperform, and lastly 0 analystsrating the company as sell.
General Information About Simon Property Group (NYSE:SPG)
Simon Property Group, Inc. is a self-administered and self-managed real estate investment trust (REIT). The Company owns, develops and manages retail real estate properties, which consist primarily of malls, Premium Outlets and The Mills. Simon Property Group, L.P. (Operating Partnership), is the Company’s partnership subsidiary that owns all of its real estate properties and other assets. The Company owns an interest in approximately 210 income-producing properties in the United States, which consists of approximately 110 malls, 70 Premium Outlets, 15 Mills and 12 other retail properties in over 35 states and Puerto Rico. The Company also owns The Mills at Jersey Gardens in Elizabeth, New Jersey, and University Park Village in Fort Worth, Texas. The Company is involved in redevelopment and expansion projects, including the addition of anchors and big box tenants, and underway at approximately 25 properties in the United States.
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