Simon Property Group (NYSE:SPG) Cut to “Hold” at StockNews.com

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

Other equities analysts have also recently issued reports about the company. Mizuho increased their price target on Simon Property Group from $158.00 to $182.00 and gave the stock a “neutral” rating in a report on Wednesday, December 4th. Piper Sandler upgraded shares of Simon Property Group from a “neutral” rating to an “overweight” rating and lifted their price target for the company from $175.00 to $205.00 in a research report on Wednesday, February 5th. Deutsche Bank Aktiengesellschaft began coverage on shares of Simon Property Group in a report on Tuesday, December 17th. They issued a “hold” rating and a $195.00 price objective on the stock. Scotiabank set a $186.00 target price on shares of Simon Property Group in a report on Friday, February 28th. Finally, Jefferies Financial Group upgraded Simon Property Group from a “hold” rating to a “buy” rating and upped their price target for the stock from $179.00 to $198.00 in a research note on Thursday, January 2nd. Six investment analysts have rated the stock with a hold rating and four have issued a buy rating to the company. According to data from MarketBeat, Simon Property Group has a consensus rating of “Hold” and a consensus target price of $180.33.

Simon Property Group Price Performance

NYSE:SPG opened at $164.21 on Friday. The stock has a 50 day moving average price of $175.42 and a 200 day moving average price of $174.53. The stock has a market cap 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 debt-to-equity ratio of 7.19, a quick ratio of 2.00 and a current ratio of 1.28. Simon Property Group has a one year low of $139.25 and a one year high of $190.14.

Simon Property Group (NYSE:SPG) last released its quarterly earnings results on Tuesday, February 4th. The real estate investment trust reported $3.68 EPS for the quarter, beating 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%. Equities research analysts expect that Simon Property Group will post 12.54 EPS for the current fiscal year.

Institutional Trading of Simon Property Group

Several hedge funds have recently modified their holdings of SPG. CreativeOne Wealth LLC grew its position in shares of Simon Property Group by 128.0% during the third quarter. CreativeOne Wealth LLC now owns 7,555 shares of the real estate investment trust’s stock worth $1,277,000 after buying an additional 4,241 shares in the last quarter. Public Sector Pension Investment Board grew its holdings in Simon Property Group by 18.0% during the 3rd quarter. Public Sector Pension Investment Board now owns 53,411 shares of the real estate investment trust’s stock worth $9,028,000 after acquiring an additional 8,132 shares in the last quarter. Rockefeller Capital Management L.P. increased its position in shares of Simon Property Group by 16.4% in the 3rd quarter. Rockefeller Capital Management L.P. now owns 92,207 shares of the real estate investment trust’s stock valued at $15,582,000 after purchasing an additional 12,990 shares during the last quarter. Icon Wealth Advisors LLC raised its holdings in shares of Simon Property Group by 14.9% in the 3rd quarter. Icon Wealth Advisors LLC now owns 1,646 shares of the real estate investment trust’s stock valued at $278,000 after purchasing an additional 214 shares in the last quarter. Finally, Fred Alger Management LLC lifted its position in shares of Simon Property Group by 4.0% during the 3rd quarter. Fred Alger Management LLC now owns 30,837 shares of the real estate investment trust’s stock worth $5,212,000 after purchasing an additional 1,178 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.