NEW YORK (TheStreet) -- Simon Property Group (SPG) - Get Report price target was increased to $220 from $215 at Deutsche Bank which maintained its "buy" rating.

Shares of Simon Property are rising 0.54% to $186.78 in afternoon trading on Tuesday.

The company announced its 2015 second quarter financial results with earnings of $1.52 per share on revenue of $1.35 billion. This compares to earnings of $1.31 per share on revenue of $1.18 billion for the same period one year ago.

The firm has increased 2015 FFO per share estimate to $10.08 from $9.75, largely reflecting a higher run rate and lower share count following the beat this quarter, according to the analyst note. 

"We think the consistency of execution is a reflection of the depth of management and focus within the organization, bolstering our positive view of Simon Property Group," Deutsche Bank analysts said.

Additionally, the firm raised the price target to reflect the supply constrained nature of the malls and strong capital market conditions, Deutsche Band added.

Simon Property Group, based in Indianapolis, is a self-administered and self-managed real estate investment trust (REIT).

Separately, TheStreet Ratings team rates SIMON PROPERTY GROUP INC as a Buy with a ratings score of B+. TheStreet Ratings Team has this to say about their recommendation:

"We rate SIMON PROPERTY GROUP INC (SPG) a BUY. This is driven by a number of strengths, which we believe should have a greater impact than any weaknesses, and should give investors a better performance opportunity than most stocks we cover. The company's strengths can be seen in multiple areas, such as its revenue growth, notable return on equity, expanding profit margins, solid stock price performance and growth in earnings per share. Although the company may harbor some minor weaknesses, we feel they are unlikely to have a significant impact on results.

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