Simon Property Group (NYSE:SPG) Given New $120.00 Price Target at Cfra
Simon Property Group (NYSE:SPG) had its price objective reduced by research analysts at Cfra from $145.00 to $120.00 in a research note issued to investors on Friday, BenzingaRatingsTable reports. The brokerage currently has a “sell” rating on the real estate investment trust’s stock. Cfra’s price objective would suggest a potential downside of 13.62% from the stock’s current price.
Other research analysts have also issued reports about the stock. JPMorgan Chase & Co. lowered shares of Simon Property Group from an “overweight” rating to a “neutral” rating and reduced their target price for the company from $170.00 to $162.00 in a report on Wednesday, December 18th. Morgan Stanley decreased their price target on shares of Simon Property Group from $157.00 to $150.00 and set an “equal weight” rating on the stock in a research note on Tuesday, December 17th. Raymond James lowered their price target on shares of Simon Property Group from $175.00 to $160.00 and set an “outperform” rating for the company in a report on Friday, February 7th. Stifel Nicolaus cut their price objective on shares of Simon Property Group from $160.00 to $150.00 and set a “hold” rating for the company in a research report on Tuesday, February 4th. Finally, Wells Fargo & Co reduced their price objective on shares of Simon Property Group from $182.00 to $168.00 and set an “overweight” rating on the stock in a research note on Tuesday. They noted that the move was a valuation call. One research analyst has rated the stock with a sell rating, nine have assigned a hold rating and four have issued a buy rating to the company’s stock. The stock has an average rating of “Hold” and a consensus price target of $169.54.
NYSE:SPG traded up $0.26 during trading hours on Friday, reaching $138.92. 1,501,071 shares of the company traded hands, compared to its average volume of 2,131,131. The company has a debt-to-equity ratio of 8.42, a current ratio of 1.08 and a quick ratio of 3.34. The firm’s 50-day moving average is $143.63 and its 200-day moving average is $149.46. The stock has a market cap of $44.60 billion, a P/E ratio of 20.40, a P/E/G ratio of 2.69 and a beta of 0.59. Simon Property Group has a 1-year low of $130.01 and a 1-year high of $186.40.
Large investors have recently modified their holdings of the business. Signature Wealth Management Group grew its holdings in Simon Property Group by 0.4% in the fourth quarter. Signature Wealth Management Group now owns 20,281 shares of the real estate investment trust’s stock valued at $3,021,000 after purchasing an additional 88 shares during the period. Stifel Financial Corp grew its stake in shares of Simon Property Group by 7.8% during the 3rd quarter. Stifel Financial Corp now owns 684,090 shares of the real estate investment trust’s stock valued at $106,459,000 after buying an additional 49,641 shares during the period. Banco Santander S.A. grew its stake in shares of Simon Property Group by 36.2% during the 3rd quarter. Banco Santander S.A. now owns 6,602 shares of the real estate investment trust’s stock valued at $1,028,000 after buying an additional 1,756 shares during the period. Evoke Wealth LLC purchased a new stake in shares of Simon Property Group during the 3rd quarter valued at $102,000. Finally, Railway Pension Investments Ltd increased its holdings in shares of Simon Property Group by 64.5% during the 3rd quarter. Railway Pension Investments Ltd now owns 65,747 shares of the real estate investment trust’s stock worth $10,233,000 after buying an additional 25,791 shares during the last quarter. 90.80% of the stock is currently owned by hedge funds and other institutional investors.
About Simon Property Group
Simon is a global leader 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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