NEW YORK ( TheStreet) -- Shares of real estate and housing-related stocks Simon Property Group ( SPG), Realty Income ( O), Lowe's ( LOW) and Home Depot ( 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. TheStreet Ratings gives Simon Property Group an A+ grade with a buy rating and a $180.64 price target. The stock has risen 11.89% year to date.