Market Overview

UPDATE: Jefferies Reiterates Simon Property Group at Buy Following Earnings Beat

Share:

Jefferies maintained its Buy rating and $181.00 price target on Simon Property Group (NYSE: SPG).

Jefferies noted, "The earnings beat & strong operating results are a positive, but 2013 guidance suggests just 6% YoY FFO/sh growth. Investors may be unimpressed unless guidance once again proves to be conservative. The beat vs. JEF was driven by higher rev (+$0.07), lower operating expenses (+$0.02), real estate taxes (+$0.01), repairs and maintenance (+$0.01), other expenses (+$0.03). Depreciation and amortization add back from unconsolidated entities also provided +$0.08 versus our estimates. These were offset by higher advertising and promotion (-$0.05), higher interest expense (-$0.04), and higher provision for credit losses (-$0.01)."

Simon Property Group closed at $161.97 on Friday.

Latest Ratings for SPG

DateFirmActionFromTo
Jan 2021Morgan StanleyMaintainsEqual-Weight
Dec 2020Edward JonesDowngradesHoldSell
Dec 2020Argus ResearchDowngradesBuyHold

View More Analyst Ratings for SPG
View the Latest Analyst Ratings

 

Related Articles (SPG)

View Comments and Join the Discussion!

Posted-In: JefferiesAnalyst Color Reiteration Analyst Ratings

Latest Ratings

StockFirmActionPT
AMDJP MorganMaintains100.0
UBERJP MorganMaintains64.0
AMZNStifelMaintains3,600.0
MSFTB of A SecuritiesMaintains280.0
MSFTOppenheimerMaintains275.0
View the Latest Analytics Ratings
Don't Miss Any Updates!
News Directly in Your Inbox
Subscribe to:
Benzinga Premarket Activity
Get pre-market outlook, mid-day update and after-market roundup emails in your inbox.
Market in 5 Minutes
Everything you need to know about the market - quick & easy.
Fintech Focus
A daily collection of all things fintech, interesting developments and market updates.
Thank You

Thank you for subscribing! If you have any questions feel free to call us at 1-877-440-ZING or email us at vipaccounts@benzinga.com