Simon Property Group (NYSE:SPG) Stock Rating Upgraded by Piper Sandler

Simon Property Group (NYSE:SPG) was upgraded by research analysts at Piper Sandler from a “neutral” rating to an “overweight” rating in a report released on Wednesday, MarketBeat reports. The brokerage presently has a $205.00 target price on the real estate investment trust’s stock, up from their previous target price of $175.00. Piper Sandler’s price target indicates a potential upside of 13.88% from the stock’s current price.

Several other equities analysts have also commented on the company. Mizuho upped their price target on Simon Property Group from $158.00 to $182.00 and gave the company a “neutral” rating in a research note on Wednesday, December 4th. Jefferies Financial Group raised Simon Property Group from a “hold” rating to a “buy” rating and increased their target price for the stock from $179.00 to $198.00 in a research note on Thursday, January 2nd. Deutsche Bank Aktiengesellschaft began coverage on Simon Property Group in a research note on Tuesday, December 17th. They set a “hold” rating and a $195.00 target price on the stock. Finally, StockNews.com lowered Simon Property Group from a “buy” rating to a “hold” rating in a research note on Thursday, October 10th. Seven equities research analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. Based on data from MarketBeat, the company has a consensus rating of “Hold” and a consensus target price of $175.10.

Simon Property Group Stock Up 0.5 %

Shares of SPG opened at $180.01 on Wednesday. The company has a debt-to-equity ratio of 8.20, a quick ratio of 2.00 and a current ratio of 2.00. Simon Property Group has a one year low of $139.25 and a one year high of $186.00. The stock has a market capitalization of $58.73 billion, a price-to-earnings ratio of 23.97, a PEG ratio of 9.31 and a beta of 1.74. The stock has a 50 day moving average price of $175.65 and a 200 day moving average price of $170.12.

Simon Property Group (NYSE:SPG) last issued its earnings results on Tuesday, February 4th. The real estate investment trust reported $3.68 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.98 by $1.70. Simon Property Group had a return on equity of 76.21% and a net margin of 43.36%. Equities research analysts forecast that Simon Property Group will post 12.72 earnings per share for the current fiscal year.

Insider Buying and Selling

In related news, Director Reuben S. Leibowitz acquired 465 shares of the firm’s stock in a transaction on Monday, December 30th. The stock was bought at an average cost of $168.59 per share, with a total value of $78,394.35. Following the transaction, the director now owns 55,919 shares of the company’s stock, valued at $9,427,384.21. The trade was a 0.84 % increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which is accessible through the SEC website. 8.60% of the stock is currently owned by company insiders.

Institutional Trading of Simon Property Group

A number of hedge funds have recently added to or reduced their stakes in SPG. WR Wealth Planners LLC raised its holdings in Simon Property Group by 328.2% during the fourth quarter. WR Wealth Planners LLC now owns 167 shares of the real estate investment trust’s stock worth $29,000 after purchasing an additional 128 shares during the last quarter. Capital Performance Advisors LLP acquired a new position in Simon Property Group during the third quarter worth $30,000. New England Capital Financial Advisors LLC acquired a new position in Simon Property Group during the fourth quarter worth $30,000. Synergy Asset Management LLC acquired a new position in Simon Property Group during the fourth quarter worth $41,000. Finally, Wingate Wealth Advisors Inc. acquired a new position in Simon Property Group during the fourth quarter worth $41,000. 93.01% of the stock is owned by institutional investors and hedge funds.

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.