Stifel downgraded Simon Property to Hold from Buy with a price target of $159, up from $157.50. Since the close on October 3, 2023 through September 10, 2024, shares have rallied over 65.5%, which compares to the RMS at 36.4%, the analyst tells investors in a research note. With shares now trading above the firm’s NAV estimate and facing potentially uninspiring 2025 FFO growth, the firm believes that shares could lag the RMS in the near-term.
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