Barclays Reaffirms Their Hold Rating on Simon Property (SPG)
Barclays analyst Richard Hightower maintained a Hold rating on Simon Property today and set a price target of $193.00.
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Hightower covers the Real Estate sector, focusing on stocks such as Diamondrock, Phillips Edison & Company, and Park Hotels & Resorts. According to TipRanks, Hightower has an average return of -0.9% and a 49.42% success rate on recommended stocks.
In addition to Barclays, Simon Property also received a Hold from Truist Financial’s Michael Lewis in a report issued on February 27. However, on the same day, Bank of America Securities reiterated a Buy rating on Simon Property (NYSE: SPG).
Based on Simon Property’s latest earnings release for the quarter ending December 31, the company reported a quarterly revenue of $1.79 billion and a net profit of $3.05 billion. In comparison, last year the company earned a revenue of $1.58 billion and had a net profit of $668.07 million
Based on the recent corporate insider activity of 82 insiders, corporate insider sentiment is neutral on the stock. Last month, John Rulli, the CAO of SPG sold 10,000.00 shares for a total of $2,008,800.00.
Read More on SPG:
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- Royal Caribbean, Bloom, Duke, Simon, eBay Insider Shake-Up
- Simon Property price target raised to $196 from $181 at Truist
- Hold Rating Maintained as Premium Valuation Caps Upside Despite Improved Fundamentals
- Simon Property price target raised to $225 from $219 at BofA
- Simon Property says David Simon resigns from Klepierre S.A. Supervisory Board
