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Citigroup Upgrades Simon Property Group to “Buy” (SPG)

By: Dividend.com
Posted: 12/17/2012 8:57:00 AM
Referenced Stocks: SPG

On Monday analysts at Citigroup upgraded real estate investment trust Simon Property Group, Inc ( SPG ) as the firm believes SPG's mall and outlet properties should result in income growth.

The analysts upgraded SPG from "Neutral" to "Buy" and see shares reaching $173. The valuation is a +12.3% upside from Friday's closing price of $154.05.

Simon Property Group shares were flat in premarket trading on Monday. The stock is up +19.47% year-to-date.

The Bottom Line
Shares of Simon Property Group ( SPG ) have a 2.86% dividend yield, based on Friday's closing stock price of $154.05. The stock has technical support in the $146-$150 price area. The stock is trading near the all-time highs of $160-$164 a share.

Simon Property Group, Inc ( SPG ) is not recommended at this time, holding a Dividend.com DARS™ Rating of 3.4 out of 5 stars.

Be sure to visit our complete recommended list of the Best Dividend Stocks , as well as a detailed explanation of our ratings system here .