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.
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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.
Simon Property Group (NYSE:SPG – Get Rating) last issued its earnings results on Monday, August 1st. The real estate investment trust reported $1.51 earnings per share for the quarter, topping the consensus estimate of $1.43 by $0.08. The company had revenue of $1.28 billion for the quarter, compared to analyst estimates of $1.25 billion. Simon Property Group had a return on equity of 56.93% and a net
margin of 40.59%. The business's revenue was up 2.0% compared to the same quarter last year. During the same period in the prior year, the firm posted $2.92 EPS. Analysts predict that Simon Property Group will post 11.66 earnings per share for the current fiscal year.
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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