Jefferies Reiterates Their Buy Rating on Simon Property


In a report released yesterday, Omotayo Okusanya from Jefferies reiterated a Buy rating on Simon Property (NYSE: SPG), with a price target of $194. The company’s shares closed yesterday at $170.48, close to its 52-week high of $173.63.

According to TipRanks.com, Okusanya is a 4-star analyst with an average return of 7.5% and a 60.8% success rate. Okusanya covers the Financial sector, focusing on stocks such as Retail Opportunity Investments, Easterly Government Properties, and NexPoint Residential Trust Inc.

The word on The Street in general, suggests a Strong Buy analyst consensus rating for Simon Property with a $192.86 average price target, a 13.1% upside from current levels. In a report released yesterday, Barclays also maintained a Buy rating on the stock with a $192 price target.

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The company has a one-year high of $173.63 and a one-year low of $145.78. Currently, Simon Property has an average volume of 1.58M.

Based on the recent corporate insider activity of 22 insiders, corporate insider sentiment is negative on the stock.

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Simon Property Group, Inc. operates as a self-administered and self-managed real estate investment trust. It owns, develops and manages retail real estate properties which primarily consist of regional malls, premium outlets and mills.

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