Simon Property Group (NYSE:SPG – Get Rating) had its price target decreased by equities researchers at Evercore ISI from $119.00 to $114.00 in a research note issued to investors on Tuesday, The Fly reports. The firm presently has an "outperform" rating on the real estate investment trust's stock. Evercore ISI's price objective would indicate a potential upside of 23.20% from the company's previous close.

Several other analysts also recently issued reports on the company. Truist Financial decreased their price target on Simon Property Group from $130.00 to $125.00 and set a "hold" rating for the company in a research note on Monday, August 15th. Morgan Stanley decreased their price target on Simon Property Group from $133.00 to $131.00 and set an "overweight" rating for the company in a research note on Monday, August 29th. Jefferies Financial Group downgraded Simon Property Group from a "buy" rating to a "hold" rating and decreased their price target for the stock from $160.00 to $100.00 in a research note on Thursday, June 30th. Mizuho decreased their target price on Simon Property Group from $158.00 to $115.00 and set a "neutral" rating for the company in a research note on Wednesday, August 3rd. Finally, Piper Sandler decreased their target price on Simon Property Group to $130.00 in a research note on Monday, July 4th. Seven research analysts have rated the stock with a hold rating and seven have issued a buy rating to the stock. Based on data from MarketBeat, the company currently has an average rating of "Moderate Buy" and a consensus target price of $138.43.

Simon Property Group Stock Performance

Shares of SPG stock opened at $92.53 on Tuesday. The company has a debt-to-equity ratio of 7.13, a current ratio of 1.02 and a quick ratio of 1.02. Simon Property Group has a fifty-two week low of $86.02 and a fifty-two week high of $171.12. The stock's 50-day moving average is $103.95 and its two-hundred day moving average is $110.95. The firm has a market cap of $31.73 billion, a P/E ratio of 14.44, a PEG ratio of 1.65 and a beta of 1.49.

Hedge Funds Weigh In On Simon Property Group

Hedge funds have recently modified their holdings of the stock. Tradition Wealth Management LLC acquired a new position in shares of Simon Property Group in the 1st quarter worth approximately $25,000. Cyrus J. Lawrence LLC acquired a new position in shares of Simon Property Group in the 1st quarter worth approximately $29,000. JFS Wealth Advisors LLC raised its holdings in shares of Simon Property Group by 3,000.0% in the 2nd quarter. JFS Wealth Advisors LLC now owns 310 shares of the real estate investment trust's stock worth $29,000 after buying an additional 300 shares in the last quarter. SeaCrest Wealth Management LLC acquired a new position in shares of Simon Property Group in the 2nd quarter worth approximately $37,000. Finally, Tyler Stone Wealth Management acquired a new position in shares of Simon Property Group in the 4th quarter worth approximately $38,000. 81.86% of the stock is owned by institutional investors and hedge funds.

About Simon Property Group

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Simon is a real estate investment trust engaged in the ownership of premier shopping, dining, entertainment and mixed-use destinations and an S&P 100 company (Simon Property Group, NYSE: SPG). Our properties across North America, Europe and Asia provide community gathering places for millions of people every day and generate billions in annual sales.

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