Stifel Nicolaus Upgrades Simon Property Group (NYSE:SPG) to “Buy”

Simon Property Group (NYSE:SPG) was upgraded by investment analysts at Stifel Nicolaus from a “hold” rating to a “buy” rating in a report released on Wednesday, MarketBeat Ratings reports. The brokerage presently has a $168.50 target price on the real estate investment trust’s stock. Stifel Nicolaus’ target price points to a potential upside of 14.13% from the company’s previous close.

A number of other analysts also recently commented on the stock. Piper Sandler upgraded shares of Simon Property Group from a “neutral” rating to an “overweight” rating and boosted their target price for the stock from $175.00 to $205.00 in a report on Wednesday, February 5th. Deutsche Bank Aktiengesellschaft began coverage on Simon Property Group in a research note on Tuesday, December 17th. They issued a “hold” rating and a $195.00 price objective for the company. Scotiabank set a $186.00 price objective on Simon Property Group in a research report on Friday, February 28th. StockNews.com cut Simon Property Group from a “buy” rating to a “hold” rating in a research report on Saturday, March 29th. Finally, Jefferies Financial Group upgraded shares of 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. Five equities research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. Based on data from MarketBeat, Simon Property Group has an average rating of “Moderate Buy” and a consensus price target of $181.39.

Simon Property Group Trading Down 3.6 %

NYSE:SPG opened at $147.64 on Wednesday. The company has a market cap of $48.17 billion, a PE ratio of 20.34, a P/E/G ratio of 10.10 and a beta of 1.45. The business’s 50 day moving average is $170.58 and its two-hundred day moving average is $173.39. The company has a quick ratio of 2.00, a current ratio of 1.28 and a debt-to-equity ratio of 7.19. Simon Property Group has a 52 week low of $136.34 and a 52 week 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, 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%. On average, analysts predict that Simon Property Group will post 12.54 EPS for the current year.

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of the company. Wilmington Savings Fund Society FSB acquired a new stake in shares of Simon Property Group in the third quarter valued at about $834,000. First Hawaiian Bank increased its holdings in shares of Simon Property Group by 35.0% during the fourth quarter. First Hawaiian Bank now owns 5,294 shares of the real estate investment trust’s stock valued at $912,000 after acquiring an additional 1,372 shares in the last quarter. Versant Capital Management Inc raised its holdings in Simon Property Group by 72.8% during the fourth quarter. Versant Capital Management Inc now owns 999 shares of the real estate investment trust’s stock worth $172,000 after buying an additional 421 shares during the last quarter. Asset Management One Co. Ltd. lifted its position in Simon Property Group by 0.7% in the 4th quarter. Asset Management One Co. Ltd. now owns 587,933 shares of the real estate investment trust’s stock valued at $101,130,000 after acquiring an additional 3,990 shares in the last quarter. Finally, Merit Financial Group LLC purchased a new position in shares of Simon Property Group during the fourth quarter valued at approximately $416,000. 93.01% of the stock is currently owned by institutional investors.

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.