Simon Property Group (NYSE:SPG – Valuation Received) Its target price was cut from $200.00 to $160.00 by equity researchers at Compass Point in a report published Wednesday, reports The Fly. Compass Point’s price target indicates a potential upside of 65.65% from the stock’s current price.
SPG has been the subject of a number of other research reports. Stifel Nicolaus lowered his target price on Simon Property Group from $180.00 to $165.00 in a research report on Tuesday, May 10. StockNews.com began coverage of Simon Property Group in a research report on Thursday, March 31st. They give the company a “hold” rating. Deutsche Bank Aktiengesellschaft has lowered its target price on Simon Property Group from $190.00 to $173.00 and gave the company a buy rating in a research report on Thursday, March 31st. Morgan Stanley lowered its price target on Simon Property Group to $160.00 from $180.00 and ranked the company as “overweight” in a research report on Monday, March 7. Finally, Truist Financial lowered its price target on Simon Property Group from $155.00 to $130.00 in a research report on Friday, June 3rd. Five analysts have rated the stock with a hold rating and ten have given a buy rating to the company’s stock. According to MarketBeat.com, Simon Property Group has a consensus rating of “Moderate Buy” and a consensus price target of $163.07.
Shares of SPG stock opened at $96.59 on Wednesday. Simon Property Group has a 52-week low of $93.50 and a 52-week high of $171.12. The stock has a market cap of $31.74 billion, a P/E of 14.25, a P/E of 2.24, and a beta of 1.46. The company has a 50-day simple moving average of $114.54 and a 200-day simple moving average of $133.63. The company has a quick ratio of 1.10, a current ratio of 1.10 and a debt to equity ratio of 6.82.
Simon Property Group (NYSE:SPG – Get Rating) last announced its quarterly results on Monday, May 9th. The Real Estate Investment Trust reported earnings per share of $1.30 for the quarter, missing analyst consensus estimates of $2.74 ($1.44). Simon Property Group had a net margin of 43.12% and a return on equity of 56.67%. The company made $1.30 billion in revenue for the quarter, compared to analysts’ expectations of $1.24 billion. In the same quarter last year, the company earned $2.48 per share. The company’s quarterly revenue increased 4.5% compared to the same quarter last year. On average, sell-side analysts expect Simon Property Group to report earnings per share of 11.73 for the current year.
Several large investors have recently changed their positions in SPG. Westwood Wealth Management acquired a new interest in Simon Property Group during the first quarter for approximately $13,814,000. Tradition Wealth Management LLC acquired a new interest in Simon Property Group in Q1 for approximately $25,000. EverSource Wealth Advisors LLC acquired a new interest in Simon Property Group valued at approximately $31,000 during the fourth quarter. Cyrus J. Lawrence LLC acquired a new interest in Simon Property Group during the first quarter for approximately $29,000. Finally, during the fourth quarter, Equitec Proprietary Markets LLC acquired a new interest in Simon Property Group valued at approximately $36,000. Institutional investors and hedge funds own 91.62% of the company’s shares.
About Simon Property Group (get rating)
Simon is a real estate investment trust that owns premier retail, dining, entertainment and mixed-use destinations and is 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 of dollars in annual revenue.
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