Simon Property Group, Inc. (NYSE:SPG) Given Consensus Recommendation of “Hold” by Brokerages

Simon Property Group, Inc. (NYSE:SPG) has been given an average recommendation of “Hold” by the ten ratings firms that are covering the company, MarketBeat Ratings reports. Seven analysts have rated the stock with a hold rating and three have given a buy rating to the company. The average 1 year price objective among brokers that have issued ratings on the stock in the last year is $172.10.

SPG has been the subject of several research reports. Jefferies Financial Group raised shares of Simon Property Group from a “hold” rating to a “buy” rating and boosted their price objective for the company from $179.00 to $198.00 in a research report on Thursday, January 2nd. Mizuho boosted their price objective on shares of Simon Property Group from $158.00 to $182.00 and gave the company a “neutral” rating in a research report on Wednesday, December 4th. Deutsche Bank Aktiengesellschaft initiated coverage on shares of Simon Property Group in a research report on Tuesday, December 17th. They issued a “hold” rating and a $195.00 price objective for the company. Finally, StockNews.com cut shares of Simon Property Group from a “buy” rating to a “hold” rating in a research report on Thursday, October 10th.

Insider Buying and Selling at Simon Property Group

In other Simon Property Group news, Director Reuben S. Leibowitz acquired 465 shares of the company’s stock in a transaction dated Monday, December 30th. The shares were acquired at an average cost of $168.59 per share, with a total value of $78,394.35. Following the acquisition, the director now directly owns 55,919 shares of the company’s stock, valued at approximately $9,427,384.21. The trade was a 0.84 % increase in their ownership of the stock. The purchase was disclosed in a document filed with the SEC, which is accessible through this link. 8.50% of the stock is currently owned by company insiders.

Institutional Trading of Simon Property Group

Large investors have recently made changes to their positions in the business. Wilmington Savings Fund Society FSB purchased a new stake in shares of Simon Property Group in the 3rd quarter valued at $834,000. First Hawaiian Bank boosted its holdings in Simon Property Group by 35.0% during the fourth quarter. First Hawaiian Bank now owns 5,294 shares of the real estate investment trust’s stock worth $912,000 after buying an additional 1,372 shares in the last quarter. Red Cedar Investment Management LLC boosted its holdings in Simon Property Group by 153.2% during the third quarter. Red Cedar Investment Management LLC now owns 17,591 shares of the real estate investment trust’s stock worth $2,973,000 after buying an additional 10,644 shares in the last quarter. TTP Investments Inc. boosted its holdings in Simon Property Group by 42.0% during the third quarter. TTP Investments Inc. now owns 34,290 shares of the real estate investment trust’s stock worth $5,796,000 after buying an additional 10,147 shares in the last quarter. Finally, Versant Capital Management Inc boosted its holdings in Simon Property Group by 72.8% during the fourth quarter. Versant Capital Management Inc now owns 999 shares of the real estate investment trust’s stock worth $172,000 after buying an additional 421 shares in the last quarter. 93.01% of the stock is owned by hedge funds and other institutional investors.

Simon Property Group Price Performance

SPG stock opened at $173.75 on Monday. Simon Property Group has a 12 month low of $135.15 and a 12 month high of $186.00. The company has a current ratio of 2.00, a quick ratio of 2.00 and a debt-to-equity ratio of 8.20. The company has a 50-day moving average price of $176.08 and a 200 day moving average price of $169.67. The stock has a market cap of $56.69 billion, a PE ratio of 23.14, a P/E/G ratio of 9.30 and a beta of 1.75.

Simon Property Group (NYSE:SPG) last released 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 firm had revenue of $1.48 billion for the quarter, compared to analysts’ expectations of $1.32 billion. Simon Property Group had a return on equity of 76.21% and a net margin of 43.36%. Simon Property Group’s revenue for the quarter was up 4.9% on a year-over-year basis. During the same period in the prior year, the firm posted $3.20 earnings per share. Equities research analysts anticipate that Simon Property Group will post 12.72 earnings per share for the current year.

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.