Simon Property Group (NYSE:SPG) Price Target Raised to $180.00

Simon Property Group (NYSE:SPG) had its price objective raised by stock analysts at Stifel Nicolaus from $168.50 to $180.00 in a research report issued on Tuesday,Benzinga reports. The brokerage currently has a “buy” rating on the real estate investment trust’s stock. Stifel Nicolaus’ target price would suggest a potential upside of 11.77% from the company’s previous close.

SPG has been the topic of several other research reports. Piper Sandler upgraded Simon Property Group from a “neutral” rating to an “overweight” rating and upped their price objective for the company from $175.00 to $205.00 in a research note on Wednesday, February 5th. StockNews.com cut Simon Property Group from a “buy” rating to a “hold” rating in a research note on Saturday, March 29th. Finally, Scotiabank lowered their target price on Simon Property Group from $186.00 to $159.00 and set a “sector perform” rating for the company in a report on Wednesday, April 23rd. Five investment analysts have rated the stock with a hold rating and five have issued a buy rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $179.67.

Simon Property Group Trading Up 0.1%

NYSE:SPG opened at $161.04 on Tuesday. The business’s 50-day simple moving average is $158.11 and its 200 day simple moving average is $171.00. Simon Property Group has a one year low of $136.34 and a one year high of $190.14. The stock has a market cap of $52.54 billion, a price-to-earnings ratio of 22.18, a price-to-earnings-growth ratio of 10.10 and a beta of 1.43. The company has a debt-to-equity ratio of 7.19, a quick ratio of 2.00 and a current ratio of 1.28.

Simon Property Group (NYSE:SPG) last announced its quarterly earnings data on Monday, May 12th. The real estate investment trust reported $2.95 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.91 by $0.04. Simon Property Group had a return on equity of 74.02% and a net margin of 41.49%. The firm had revenue of $1.47 billion for the quarter, compared to analysts’ expectations of $1.34 billion. During the same quarter in the prior year, the firm posted $3.56 earnings per share. Simon Property Group’s revenue for the quarter was up 2.1% compared to the same quarter last year. As a group, sell-side analysts predict that Simon Property Group will post 12.54 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Simon Property Group

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the business. Truvestments Capital LLC grew its holdings in Simon Property Group by 28.0% in the 1st quarter. Truvestments Capital LLC now owns 29,890 shares of the real estate investment trust’s stock worth $4,964,000 after buying an additional 6,536 shares in the last quarter. Wealth Preservation Advisors LLC bought a new position in Simon Property Group in the 1st quarter worth approximately $1,329,000. Ieq Capital LLC grew its holdings in Simon Property Group by 23.4% in the 1st quarter. Ieq Capital LLC now owns 22,599 shares of the real estate investment trust’s stock worth $3,753,000 after buying an additional 4,286 shares in the last quarter. CreativeOne Wealth LLC grew its holdings in Simon Property Group by 96.7% in the 1st quarter. CreativeOne Wealth LLC now owns 19,778 shares of the real estate investment trust’s stock worth $3,285,000 after buying an additional 9,721 shares in the last quarter. Finally, Samalin Investment Counsel LLC boosted its stake in Simon Property Group by 49.7% during the 1st quarter. Samalin Investment Counsel LLC now owns 2,008 shares of the real estate investment trust’s stock valued at $334,000 after purchasing an additional 667 shares in the last quarter. 93.01% of the stock is owned by 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.