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

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

A number of other analysts have also commented on the company. Mizuho boosted their target price on Simon Property Group from $158.00 to $182.00 and gave the company a “neutral” rating in a research report on Wednesday, December 4th. Scotiabank set a $186.00 target price on Simon Property Group in a research report on Friday, February 28th. Jefferies Financial Group raised shares of Simon Property Group from a “hold” rating to a “buy” rating and lifted their price target for the company from $179.00 to $198.00 in a research report on Thursday, January 2nd. Deutsche Bank Aktiengesellschaft began coverage on shares of Simon Property Group in a report on Tuesday, December 17th. They set a “hold” rating and a $195.00 price objective on the stock. Finally, 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 report on Wednesday, February 5th. Five research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $180.33.

Simon Property Group Stock Down 1.4 %

Shares of NYSE SPG opened at $162.12 on Friday. Simon Property Group has a 52-week low of $139.25 and a 52-week high of $190.14. 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 company’s 50 day moving average price is $176.11 and its 200-day moving average price is $174.37. The company has a market capitalization of $52.90 billion, a P/E ratio of 22.33, a price-to-earnings-growth ratio of 10.10 and a beta of 1.78.

Simon Property Group (NYSE:SPG) last issued its quarterly earnings results on Tuesday, February 4th. The real estate investment trust reported $3.68 earnings per share for the quarter, topping 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%. Equities analysts forecast that Simon Property Group will post 12.54 earnings per share for the current year.

Insider Buying and Selling

In other news, Director Reuben S. Leibowitz purchased 465 shares of the business’s stock in a transaction dated Monday, December 30th. The stock was bought at an average price of $168.59 per share, for a total transaction 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. The trade was a 0.84 % increase in their ownership of the stock. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. 8.60% of the stock is currently owned by corporate insiders.

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. B. Metzler seel. Sohn & Co. Holding AG purchased a new stake in shares of Simon Property Group during the third quarter worth $1,590,000. Connor Clark & Lunn Investment Management Ltd. boosted its stake in Simon Property Group by 126.2% in the 3rd quarter. Connor Clark & Lunn Investment Management Ltd. now owns 9,279 shares of the real estate investment trust’s stock worth $1,568,000 after purchasing an additional 5,177 shares during the period. Advisors Asset Management Inc. grew its holdings in Simon Property Group by 8.4% during the 3rd quarter. Advisors Asset Management Inc. now owns 17,874 shares of the real estate investment trust’s stock valued at $3,021,000 after buying an additional 1,387 shares in the last quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. increased its position in shares of Simon Property Group by 168.7% during the third quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. now owns 219,579 shares of the real estate investment trust’s stock valued at $37,114,000 after buying an additional 137,850 shares during the period. Finally, Intech Investment Management LLC lifted its holdings in shares of Simon Property Group by 21.2% in the third quarter. Intech Investment Management LLC now owns 31,388 shares of the real estate investment trust’s stock worth $5,305,000 after buying an additional 5,484 shares in the last quarter. Institutional investors 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.