Simon Property Group (NYSE:SPG) Stock Rating Upgraded by StockNews.com

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

Other research analysts have also recently issued reports about the company. Deutsche Bank Aktiengesellschaft started coverage on Simon Property Group in a research note on Tuesday, December 17th. They issued a “hold” rating and a $195.00 price target for the company. Piper Sandler raised Simon Property Group from a “neutral” rating to an “overweight” rating and raised their target price for the stock from $175.00 to $205.00 in a research report on Wednesday, February 5th. Jefferies Financial Group raised Simon Property Group from a “hold” rating to a “buy” rating and lifted their target price for the stock from $179.00 to $198.00 in a report on Thursday, January 2nd. Finally, Mizuho lifted their target price on Simon Property Group from $158.00 to $182.00 and gave the stock a “neutral” rating in a report on Wednesday, December 4th. Five equities research analysts have rated the stock with a hold rating and five have given a buy rating to the company’s stock. Based on data from MarketBeat.com, Simon Property Group has an average rating of “Moderate Buy” and a consensus price target of $178.44.

Simon Property Group Stock Up 1.9 %

Shares of SPG opened at $186.13 on Friday. Simon Property Group has a 52 week low of $139.25 and a 52 week high of $188.13. The stock has a market capitalization of $60.73 billion, a price-to-earnings ratio of 25.64, a PEG ratio of 10.10 and a beta of 1.74. The company has a debt-to-equity ratio of 7.19, a quick ratio of 2.00 and a current ratio of 1.28. The stock has a fifty day moving average of $177.31 and a 200-day moving average of $173.74.

Simon Property Group (NYSE:SPG) last announced its quarterly earnings results on Tuesday, February 4th. The real estate investment trust reported $3.68 EPS for the quarter, beating analysts’ consensus estimates of $1.98 by $1.70. Simon Property Group had a return on equity of 74.02% and a net margin of 41.49%. As a group, sell-side analysts anticipate that Simon Property Group will post 12.54 earnings per share for the current fiscal year.

Insider Buying and Selling at Simon Property Group

In related news, Director Reuben S. Leibowitz acquired 465 shares of Simon Property Group stock in a transaction dated Monday, December 30th. The stock was bought at an average price of $168.59 per share, with a total value of $78,394.35. Following the transaction, the director now directly owns 55,919 shares in the company, valued at $9,427,384.21. This represents a 0.84 % increase in their position. The purchase was disclosed in a filing with the SEC, which is available at the SEC website. Insiders own 8.50% of the company’s stock.

Institutional Trading of Simon Property Group

Large investors have recently modified their holdings of the stock. Universal Beteiligungs und Servicegesellschaft mbH bought a new position in shares of Simon Property Group in the 4th quarter worth $94,746,000. Yoffe Investment Management LLC bought a new position in shares of Simon Property Group in the 4th quarter worth $583,000. Ascent Group LLC lifted its holdings in shares of Simon Property Group by 17.3% in the 4th quarter. Ascent Group LLC now owns 2,677 shares of the real estate investment trust’s stock worth $461,000 after purchasing an additional 395 shares in the last quarter. AlphaCore Capital LLC bought a new position in shares of Simon Property Group in the 4th quarter worth $522,000. Finally, Michels Family Financial LLC bought a new position in shares of Simon Property Group in the 4th quarter worth $764,000. 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.