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.