Simon Property Group (NYSE:SPG) Rating Lowered to Hold at StockNews.com

Simon Property Group (NYSE:SPG) was downgraded by research analysts at StockNews.com from a “buy” rating to a “hold” rating in a research note issued to investors on Thursday.

A number of other research firms have also commented on SPG. Piper Sandler reaffirmed a “neutral” rating and set a $175.00 target price (down previously from $190.00) on shares of Simon Property Group in a report on Tuesday, September 3rd. Evercore ISI raised shares of Simon Property Group from an “in-line” rating to an “outperform” rating and upped their target price for the stock from $160.00 to $172.00 in a research note on Monday, September 16th. Stifel Nicolaus reaffirmed a “hold” rating and issued a $159.00 target price (up from $157.50) on shares of Simon Property Group in a research note on Thursday, September 12th. Scotiabank increased their price objective on shares of Simon Property Group from $152.00 to $169.00 and gave the stock a “sector perform” rating in a research note on Monday, August 26th. Finally, Truist Financial increased their price objective on shares of Simon Property Group from $147.00 to $158.00 and gave the stock a “hold” rating in a research note on Wednesday, August 28th. Seven analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus price target of $162.78.

Simon Property Group Trading Up 1.8 %

NYSE SPG opened at $170.78 on Thursday. Simon Property Group has a 1-year low of $104.05 and a 1-year high of $171.51. The company has a current ratio of 2.04, a quick ratio of 2.04 and a debt-to-equity ratio of 7.53. The company has a market capitalization of $55.68 billion, a PE ratio of 21.70, a price-to-earnings-growth ratio of 9.27 and a beta of 1.74. The firm’s fifty day simple moving average is $163.88 and its 200-day simple moving average is $153.89.

Simon Property Group (NYSE:SPG) last released its earnings results on Monday, August 5th. The real estate investment trust reported $1.51 earnings per share for the quarter, missing the consensus estimate of $2.93 by ($1.42). The company had revenue of $1.32 billion during the quarter, compared to the consensus estimate of $1.30 billion. Simon Property Group had a net margin of 45.90% and a return on equity of 78.14%. The firm’s quarterly revenue was up 4.8% on a year-over-year basis. During the same quarter in the previous year, the business posted $2.88 EPS. As a group, sell-side analysts anticipate that Simon Property Group will post 12.85 earnings per share for the current fiscal year.

Insider Transactions at Simon Property Group

In other news, Director Allan B. Hubbard purchased 370 shares of Simon Property Group stock in a transaction that occurred on Monday, September 30th. The shares were acquired at an average price of $167.30 per share, for a total transaction of $61,901.00. Following the transaction, the director now owns 34,301 shares of the company’s stock, valued at approximately $5,738,557.30. The trade was a 0.00 % increase in their position. The transaction was disclosed in a document filed with the SEC, which is available through this link. Insiders own 8.50% of the company’s stock.

Institutional Trading of Simon Property Group

A number of hedge funds have recently added to or reduced their stakes in the stock. Wealth Enhancement Advisory Services LLC raised its stake in shares of Simon Property Group by 11.9% during the second quarter. Wealth Enhancement Advisory Services LLC now owns 34,054 shares of the real estate investment trust’s stock valued at $5,169,000 after acquiring an additional 3,626 shares during the last quarter. Napa Wealth Management bought a new position in shares of Simon Property Group during the fourth quarter valued at $3,151,000. Aspiriant LLC bought a new position in shares of Simon Property Group during the first quarter valued at $1,139,000. BI Asset Management Fondsmaeglerselskab A S raised its stake in shares of Simon Property Group by 333.5% during the first quarter. BI Asset Management Fondsmaeglerselskab A S now owns 24,531 shares of the real estate investment trust’s stock valued at $3,839,000 after acquiring an additional 18,872 shares during the last quarter. Finally, M&G Plc bought a new position in Simon Property Group during the first quarter worth $4,654,000. Institutional investors and hedge funds own 93.01% of the company’s stock.

Simon Property Group Company Profile

Simon Property Group, Inc (NYSE:SPG) is a self-administered and self-managed real estate investment trust (REIT). Simon Property Group, L.P., or the Operating Partnership, is our majority-owned partnership subsidiary that owns all of our real estate properties and other assets. In this package, the terms Simon, we, our, or the Company refer to Simon Property Group, Inc, the Operating Partnership, and its subsidiaries.