Mizuho Securities Initiates Coverage on Simon Property Group Inc to Buy

Mizuho Securities Initiates Coverage on Simon Property Group Inc(NYSE:SPG). The shares have been rated Buy. The rating by Mizuho Securities was issued on Apr 13, 2016.

In a different note, On Apr 1, 2016, Citigroup said it Maintains its rating on Simon Property Group Inc. In the research note, the firm Raises the price-target to $214.00 per share. The shares have been rated ‘Buy’ by the firm. On Mar 21, 2016, Stifel Nicolaus said it Maintains its rating on Simon Property Group Inc. In the research note, the firm Raises the price-target to $220.00 per share. The shares have been rated ‘Buy’ by the firm. On Mar 7, 2016, Evercore ISI Group said it Upgrades its rating on Simon Property Group Inc. In the research note, the firm Raises the price-target to $205.00 per share. The shares have been rated ‘Buy’ by the firm. On Mar 3, 2016, Goldman Sachs said it Upgrades its rating on Simon Property Group Inc. In the research note, the firm Raises the price-target to $222.00 per share. The shares have been rated ‘Conviction Buy’ by the firm. On Feb 1, 2016, Deutsche Bank said it Maintains its rating on Simon Property Group Inc. In the research note, the firm Raises the price-target to $222.00 per share. The shares have been rated ‘Buy’ by the firm.

Simon Property Group Inc (SPG) shares turned negative on Fridays trading session with the shares closing down -0.08 points or -0.04% at a volume of 10,66,654. The pessimistic mood was evident in the company shares which never went considerably beyond the level of $208.21. The peak price level was also seen at $208.21 while the days lowest was $206.06. Finally the shares closed at $207.87. The 52-week high of the shares is $210.41 while the 52-week low is $170.99. According to the latest information available, the market cap of the company is $65,441 M.

Simon Property Group Inc(SPG) last announced its earnings results on Jan 29, 2016 for Fiscal Year 2015 and Q4.Company reported revenue of $1.38B. Analysts had an estimated revenue of $1.38B. Earnings per share were $2.73. Analysts had estimated an EPS of $2.48.

Several Insider Transactions has been reported to the SEC. On Mar 22, 2016, David J Contis (Sr. EVP/Pres.- Simon Malls) sold 11,000 shares at $202.63 per share price.Also, On Dec 22, 2015, Allan B Hubbard (director) purchased 145 shares at $192.70 per share price.On Aug 18, 2015, Steven K. Broadwater (SVP & Chief Accounting Officer) sold 1,489 shares at $194.17 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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