4 Real Estate-Related Stocks Hit 52-Week Highs: SPG, O, LOW, HD
Each of the stocks received a buy rating from TheStreet Ratings.
Simon Property Group
"SPG's decision to invest in Klépierre appears strategically sound, given ability to 'Simon-ize' these assets over the longer term, essentially extracting greater operating efficiencies from & bringing new tenant relationships to these properties," Keefe, Bruyette & Woods analysts wrote in a March 15 report. "New investment also creates a valuable option that could pay greater dividends & offer value-creation opportunities down the road, if/when redevelopment &/or expansion is warranted."
Shares of Simon Property Group hit a 52-week high Wednesday of $144.79. The stock's 52-week low of $99.43 was set on Aug. 8.
Simon Property Group has an estimated price-to-earnings ratio for next year of 40.18 times; the average for retail real estate investment trusts is 58.4. For comparison, both General Growth Properties(GGP) and Kimco Realty(KIM) have higher forward P/Es of 62.96 and 63.75, respectively.
Seventeen of the 25 analysts who cover Simon Property Group rated it buy. Seven analysts gave the stock a hold rating and one rated it sell.