Market Overview

UPDATE: JP Morgan Reiterates Simon Property Group at Overweight Following Q4 Takeaways

Share:
Related SPG
Earnings Scheduled For April 24, 2015
Benzinga's M&A Chatter for Tuesday April 21, 2015
Bullish Barron's writeup for Taubman Centers (Seeking Alpha)

JP Morgan maintained Simon Property Group (NYSE: SPG) with an Overweight rating and a $178 price target.

JP Morgan said, "From an operational standpoint, the quarter's takeaways were similar to prior quarters' trends (a good thing) with leasing spreads continuing to steadily move up and occupancy moving higher on a YoY basis. Given the portfolio's low occupancy cost and mid-to-high $30s near-term expiring rent levels, we believe there is a good visibility for maintaining/growing rent spreads. On the investment front, SPG continues to reinvest its retained cash flow into its sizeable development/redevelopment pipeline, which we estimate should drive about 3% FFO/growth annually."

Simon Property Group closed at $161.97 on Friday.

Latest Ratings for SPG

DateFirmActionFromTo
Apr 2015RBC CapitalMaintainsOutperform
Apr 2015BarclaysMaintainsOverweight
Apr 2015Morgan StanleyAssumesOverweight

View More Analyst Ratings for SPG
View the Latest Analyst Ratings

Posted-In: JP MorganAnalyst Color Reiteration Analyst Ratings

 

Related Articles (SPG)

Around the Web, We're Loving...