Simon Property Gets a Hold Rating from RBC Capital

By Austin Angelo

RBC Capital analyst Wes Golladay reiterated a Hold rating on Simon Property (NYSE: SPG) yesterday and set a price target of $182. The company’s shares closed yesterday at $154.01, close to its 52-week low of $152.09.

According to TipRanks.com, Golladay is a 4-star analyst with an average return of 5.7% and a 59.6% success rate. Golladay covers the Financial sector, focusing on stocks such as Retail Opportunity Investments, General Growth Properties Inc, and Seritage Growth Properties.

Simon Property has an analyst consensus of Moderate Buy, with a price target consensus of $202.75.

The company has a one year high of $229.10 and a one year low of $152.09. Currently, Simon Property has an average volume of 1.97M.

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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. Simon Property Group specializes in the ownership, development, management, leasing, acquisition and expansion of income-producing retail real estate assets. The company was founded by Fred Simon, Herbert Simon and Melvin Simon in December 1993 and is headquartered in Indianapolis, IN.