StockNews.com Downgrades Simon Property Group (NYSE:SPG) to Hold

Simon Property Group (NYSE:SPG) was downgraded by analysts at StockNews.com from a “buy” rating to a “hold” rating in a report released on Saturday.

Other analysts have also issued reports about the stock. Deutsche Bank Aktiengesellschaft started coverage on shares of Simon Property Group in a research note on Tuesday, December 17th. They set a “hold” rating and a $195.00 price target on the stock. Piper Sandler upgraded shares of Simon Property Group from a “neutral” rating to an “overweight” rating and lifted their price objective for the company from $175.00 to $205.00 in a research report on Wednesday, February 5th. Jefferies Financial Group raised shares of Simon Property Group from a “hold” rating to a “buy” rating and increased their target price for the company from $179.00 to $198.00 in a report on Thursday, January 2nd. Finally, Mizuho upped their target price on shares of Simon Property Group from $158.00 to $182.00 and gave the company a “neutral” rating in a report on Wednesday, December 4th. Six analysts have rated the stock with a hold rating and four have given a buy rating to the stock. According to MarketBeat, the stock has a consensus rating of “Hold” and a consensus target price of $178.44.

Simon Property Group Stock Down 2.0 %

Shares of NYSE SPG opened at $170.97 on Friday. The stock has a market capitalization of $55.78 billion, a PE ratio of 23.55, a price-to-earnings-growth ratio of 10.10 and a beta of 1.78. Simon Property Group has a 12-month low of $139.25 and a 12-month high of $190.14. The company has a current ratio of 1.28, a quick ratio of 2.00 and a debt-to-equity ratio of 7.19. The stock’s fifty day simple moving average is $178.03 and its two-hundred day simple moving average is $174.40.

Simon Property Group (NYSE:SPG) last issued its quarterly earnings data 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 74.02% and a net margin of 41.49%. As a group, analysts expect that Simon Property Group will post 12.54 EPS for the current fiscal year.

Insider Activity

In related news, Director Reuben S. Leibowitz purchased 465 shares of the company’s stock in a transaction that occurred on Monday, December 30th. The shares were purchased at an average price of $168.59 per share, with a total value of $78,394.35. Following the purchase, the director now owns 55,919 shares of the company’s stock, valued at $9,427,384.21. This trade represents a 0.84 % increase in their position. The acquisition was disclosed in a document filed with the SEC, which is available at the SEC website. Insiders own 8.50% of the company’s stock.

Institutional Investors Weigh In On Simon Property Group

Large investors have recently made changes to their positions in the company. Norges Bank purchased a new position in Simon Property Group during the 4th quarter worth approximately $2,059,505,000. Geode Capital Management LLC raised its position in Simon Property Group by 2.6% during the fourth quarter. Geode Capital Management LLC now owns 9,160,242 shares of the real estate investment trust’s stock valued at $1,577,600,000 after buying an additional 230,982 shares during the period. Northern Trust Corp lifted its stake in Simon Property Group by 45.9% in the 4th quarter. Northern Trust Corp now owns 5,462,856 shares of the real estate investment trust’s stock worth $940,758,000 after acquiring an additional 1,718,398 shares in the last quarter. JPMorgan Chase & Co. boosted its position in Simon Property Group by 5.5% during the 4th quarter. JPMorgan Chase & Co. now owns 4,710,538 shares of the real estate investment trust’s stock worth $811,202,000 after acquiring an additional 246,630 shares during the period. Finally, Invesco Ltd. grew its stake in Simon Property Group by 14.8% during the 4th quarter. Invesco Ltd. now owns 4,216,575 shares of the real estate investment trust’s stock valued at $726,136,000 after acquiring an additional 542,511 shares in the last quarter. Institutional investors and hedge funds own 93.01% of the company’s stock.

About Simon Property Group

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.