Positive News Coverage Somewhat Unlikely to Affect Simon Property Group (SPG) Share Price

Media coverage about Simon Property Group (NYSE:SPG) has been trending positive on Wednesday, according to Accern Sentiment. Accern scores the sentiment of press coverage by analyzing more than twenty million blog and news sources in real-time. Accern ranks coverage of publicly-traded companies on a scale of negative one to one, with scores closest to one being the most favorable. Simon Property Group earned a media sentiment score of 0.28 on Accern’s scale. Accern also gave media headlines about the real estate investment trust an impact score of 46.1750655018863 out of 100, indicating that recent press coverage is somewhat unlikely to have an effect on the company’s share price in the next several days.

Here are some of the media headlines that may have impacted Accern’s rankings:

Several equities analysts have weighed in on the stock. Boenning Scattergood set a $240.00 target price on shares of Simon Property Group and gave the company a “buy” rating in a report on Wednesday, August 2nd. Barclays PLC raised their target price on shares of Simon Property Group from $188.00 to $190.00 and gave the company an “overweight” rating in a report on Tuesday, August 8th. Argus dropped their target price on shares of Simon Property Group from $210.00 to $200.00 and set a “buy” rating for the company in a report on Tuesday, August 22nd. Zacks Investment Research upgraded shares of Simon Property Group from a “hold” rating to a “buy” rating and set a $182.00 target price for the company in a report on Wednesday. Finally, Jefferies Group LLC restated a “buy” rating and set a $190.00 target price on shares of Simon Property Group in a report on Monday, July 17th. One investment analyst has rated the stock with a sell rating, six have assigned a hold rating and thirteen have issued a buy rating to the company’s stock. Simon Property Group presently has a consensus rating of “Buy” and an average target price of $193.07.

Simon Property Group (NYSE:SPG) traded up 1.33% during midday trading on Wednesday, hitting $165.08. 1,414,883 shares of the company traded hands. The company has a market cap of $51.31 billion, a PE ratio of 29.42 and a beta of 0.60. The stock has a 50 day moving average price of $159.89 and a 200-day moving average price of $161.53. Simon Property Group has a 12-month low of $150.15 and a 12-month high of $199.85.

Simon Property Group (NYSE:SPG) last posted its quarterly earnings data on Tuesday, August 1st. The real estate investment trust reported $2.47 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $2.44 by $0.03. Simon Property Group had a return on equity of 39.29% and a net margin of 32.07%. The firm had revenue of $1.36 billion for the quarter, compared to the consensus estimate of $1.37 billion. During the same quarter in the previous year, the company earned $2.63 EPS. The business’s revenue for the quarter was up 3.5% compared to the same quarter last year. Analysts expect that Simon Property Group will post $6.35 EPS for the current year.

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About Simon Property Group

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.

Insider Buying and Selling by Quarter for Simon Property Group (NYSE:SPG)

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