Deutsche Bank Aktiengesellschaft Begins Coverage on Simon Property Group (NYSE:SPG)

Equities researchers at Deutsche Bank Aktiengesellschaft began coverage on shares of Simon Property Group (NYSE:SPG) in a research note issued on Tuesday, Marketbeat Ratings reports. The firm set a “hold” rating and a $195.00 price target on the real estate investment trust’s stock. Deutsche Bank Aktiengesellschaft’s price target would indicate a potential upside of 13.70% from the stock’s previous close.

Other research analysts have also recently issued reports about the stock. Scotiabank increased their price objective on shares of Simon Property Group from $152.00 to $169.00 and gave the company a “sector perform” rating in a report on Monday, August 26th. Piper Sandler reaffirmed a “neutral” rating and set a $175.00 price target (down from $190.00) on shares of Simon Property Group in a research note on Tuesday, September 3rd. StockNews.com downgraded Simon Property Group from a “buy” rating to a “hold” rating in a research note on Thursday, October 10th. Evercore ISI raised Simon Property Group from an “in-line” rating to an “outperform” rating and raised their target price for the company from $160.00 to $172.00 in a research note on Monday, September 16th. Finally, Truist Financial boosted their price target on shares of Simon Property Group from $147.00 to $158.00 and gave the stock a “hold” rating in a research report on Wednesday, August 28th. Eight analysts have rated the stock with a hold rating and three have issued a buy rating to the company. According to MarketBeat, the company presently has a consensus rating of “Hold” and an average price target of $168.40.

Simon Property Group Stock Down 4.7 %

SPG opened at $171.51 on Tuesday. The stock’s 50 day moving average price is $177.24 and its 200 day moving average price is $164.28. The company has a debt-to-equity ratio of 8.20, a current ratio of 2.00 and a quick ratio of 2.00. The stock has a market cap of $55.96 billion, a P/E ratio of 22.84, a P/E/G ratio of 10.50 and a beta of 1.75. Simon Property Group has a 12 month low of $135.15 and a 12 month high of $186.00.

Simon Property Group (NYSE:SPG) last issued its quarterly earnings results on Friday, November 1st. The real estate investment trust reported $1.46 EPS for the quarter, missing analysts’ consensus estimates of $3.00 by ($1.54). The business had revenue of $1.48 billion for the quarter, compared to analyst estimates of $1.32 billion. Simon Property Group had a net margin of 43.36% and a return on equity of 76.21%. Simon Property Group’s revenue for the quarter was up 4.9% on a year-over-year basis. During the same period last year, the business posted $3.20 earnings per share. As a group, research analysts predict that Simon Property Group will post 12.76 earnings per share for the current year.

Insider Buying and Selling at Simon Property Group

In other Simon Property Group news, Director Allan B. Hubbard bought 370 shares of the firm’s stock in a transaction dated Monday, September 30th. The stock was acquired at an average price of $167.30 per share, with a total value of $61,901.00. Following the completion of the transaction, the director now directly owns 34,301 shares in the company, valued at approximately $5,738,557.30. This represents a 1.09 % increase in their position. The purchase was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders own 8.50% of the company’s stock.

Institutional Investors Weigh In On Simon Property Group

Several hedge funds have recently bought and sold shares of the business. Aptus Capital Advisors LLC lifted its position in Simon Property Group by 3.9% in the 3rd quarter. Aptus Capital Advisors LLC now owns 1,615 shares of the real estate investment trust’s stock worth $273,000 after buying an additional 61 shares in the last quarter. Inspire Advisors LLC raised its holdings in shares of Simon Property Group by 1.6% during the third quarter. Inspire Advisors LLC now owns 4,118 shares of the real estate investment trust’s stock worth $696,000 after acquiring an additional 65 shares in the last quarter. Groupama Asset Managment boosted its position in Simon Property Group by 0.9% during the third quarter. Groupama Asset Managment now owns 7,721 shares of the real estate investment trust’s stock valued at $1,305,000 after purchasing an additional 67 shares during the last quarter. Augustine Asset Management Inc. grew its stake in Simon Property Group by 3.8% in the second quarter. Augustine Asset Management Inc. now owns 1,859 shares of the real estate investment trust’s stock valued at $282,000 after purchasing an additional 68 shares in the last quarter. Finally, Bleakley Financial Group LLC increased its position in Simon Property Group by 1.1% in the 3rd quarter. Bleakley Financial Group LLC now owns 6,175 shares of the real estate investment trust’s stock worth $1,044,000 after purchasing an additional 68 shares during the last quarter. 93.01% of the stock is owned by hedge funds and other institutional investors.

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.