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

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

Other analysts also recently issued research reports about the company. Piper Sandler upgraded Simon Property Group from a “neutral” rating to an “overweight” rating and boosted their price target for the company from $175.00 to $205.00 in a research note on Wednesday, February 5th. Jefferies Financial Group upgraded Simon Property Group from a “hold” rating to a “buy” rating and upped their target price for the company from $179.00 to $198.00 in a research report on Thursday, January 2nd. Scotiabank set a $186.00 price target on shares of Simon Property Group in a research report on Friday, February 28th. Mizuho lifted 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 note on Wednesday, December 4th. Finally, Deutsche Bank Aktiengesellschaft started coverage on shares of Simon Property Group in a report on Tuesday, December 17th. They set a “hold” rating and a $195.00 target price for the company. Six research analysts have rated the stock with a hold rating and four have given a buy rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of “Hold” and an average price target of $180.33.

Simon Property Group Trading Down 1.0 %

Shares of NYSE:SPG opened at $164.21 on Friday. Simon Property Group has a 12-month low of $139.25 and a 12-month high of $190.14. The business’s fifty day simple moving average is $175.42 and its 200-day simple moving average is $174.53. The company has a market capitalization of $53.58 billion, a PE ratio of 22.62, a P/E/G ratio of 10.10 and a beta of 1.78. The company has a current ratio of 1.28, a quick ratio of 2.00 and a debt-to-equity ratio of 7.19.

Simon Property Group (NYSE:SPG) last posted its quarterly earnings data on Tuesday, February 4th. The real estate investment trust reported $3.68 EPS for the quarter, topping the consensus estimate of $1.98 by $1.70. Simon Property Group had a net margin of 41.49% and a return on equity of 74.02%. As a group, equities research analysts predict that Simon Property Group will post 12.54 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Simon Property Group

Large investors have recently added to or reduced their stakes in the stock. Pitcairn Co. increased its stake in shares of Simon Property Group by 0.6% during the fourth quarter. Pitcairn Co. now owns 9,895 shares of the real estate investment trust’s stock worth $1,704,000 after purchasing an additional 55 shares in the last quarter. Colonial Trust Co SC increased its stake in Simon Property Group by 37.5% during the 4th quarter. Colonial Trust Co SC now owns 209 shares of the real estate investment trust’s stock worth $36,000 after buying an additional 57 shares in the last quarter. Childress Capital Advisors LLC raised its holdings in shares of Simon Property Group by 3.6% during the fourth quarter. Childress Capital Advisors LLC now owns 1,689 shares of the real estate investment trust’s stock valued at $291,000 after acquiring an additional 58 shares during the last quarter. Global X Japan Co. Ltd. lifted its position in shares of Simon Property Group by 9.9% in the fourth quarter. Global X Japan Co. Ltd. now owns 655 shares of the real estate investment trust’s stock valued at $113,000 after acquiring an additional 59 shares in the last quarter. Finally, HighPoint Advisor Group LLC boosted its stake in shares of Simon Property Group by 1.8% in the fourth quarter. HighPoint Advisor Group LLC now owns 3,396 shares of the real estate investment trust’s stock worth $626,000 after acquiring an additional 60 shares during the last quarter. 93.01% of the stock is currently 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.