Simon Property Group (NYSE:SPG) Raised to Buy at StockNews.com

Simon Property Group (NYSE:SPG) was upgraded by investment analysts at StockNews.com from a “hold” rating to a “buy” rating in a note issued to investors on Friday.

Other research analysts also recently issued research reports about the company. Mizuho lifted their price objective 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 Simon Property Group from a “neutral” rating to an “overweight” rating and upped their target price for the company from $175.00 to $205.00 in a report on Wednesday, February 5th. Jefferies Financial Group upgraded Simon Property Group from a “hold” rating to a “buy” rating and raised their target price for the company from $179.00 to $198.00 in a research note on Thursday, January 2nd. Scotiabank set a $186.00 price objective on Simon Property Group in a report on Friday, February 28th. Finally, Deutsche Bank Aktiengesellschaft initiated coverage on shares of Simon Property Group in a research report on Tuesday, December 17th. They issued a “hold” rating and a $195.00 target price on the stock. Five research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $180.33.

Simon Property Group Stock Down 1.4 %

SPG opened at $162.12 on Friday. The company has a quick ratio of 2.00, a current ratio of 1.28 and a debt-to-equity ratio of 7.19. The business’s fifty day simple moving average is $176.11 and its 200 day simple moving average is $174.37. Simon Property Group has a 52 week low of $139.25 and a 52 week high of $190.14. The stock has a market cap of $52.90 billion, a PE ratio of 22.33, a P/E/G ratio of 10.10 and a beta of 1.78.

Simon Property Group (NYSE:SPG) last posted its quarterly earnings results 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, research analysts expect that Simon Property Group will post 12.54 earnings per share for the current fiscal year.

Insider Transactions at Simon Property Group

In related news, Director Reuben S. Leibowitz bought 465 shares of the firm’s stock in a transaction on Monday, December 30th. The stock was acquired at an average cost of $168.59 per share, for a total transaction of $78,394.35. Following the purchase, the director now owns 55,919 shares in the company, valued at approximately $9,427,384.21. This represents a 0.84 % increase in their ownership of the stock. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Company insiders own 8.60% of the company’s stock.

Institutional Trading of Simon Property Group

A number of hedge funds have recently bought and sold shares of SPG. Chancellor Financial Group WB LP bought a new stake in shares of Simon Property Group during the 4th quarter valued at about $213,000. 111 Capital purchased a new position in shares of Simon Property Group in the fourth quarter worth approximately $284,000. Wealth Enhancement Advisory Services LLC grew its position in Simon Property Group by 36.2% during the fourth quarter. Wealth Enhancement Advisory Services LLC now owns 23,660 shares of the real estate investment trust’s stock valued at $4,074,000 after buying an additional 6,293 shares during the period. Castle Rock Wealth Management LLC increased its holdings in Simon Property Group by 2.6% during the fourth quarter. Castle Rock Wealth Management LLC now owns 8,880 shares of the real estate investment trust’s stock valued at $1,643,000 after buying an additional 223 shares during the last quarter. Finally, Phocas Financial Corp. purchased a new stake in Simon Property Group during the fourth quarter valued at approximately $466,000. Hedge funds and other institutional investors own 93.01% of the company’s stock.

About Simon Property Group

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.