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.

Simon Property Group (NYSE:SPG) last released its quarterly earnings results on Tuesday, February 4th. The real estate investment trust reported $1.66 earnings per share for the quarter, missing the Zacks’ consensus estimate of $2.95 by ($1.29). The company had revenue of $1.49 billion during the quarter, compared to analyst estimates of $1.45 billion. Simon Property Group had a return on equity of 65.24% and a net margin of 36.52%. The business’s revenue was up 1.8% compared to the same quarter last year. During the same period last year, the firm earned $3.23 earnings per share. As a group, research analysts predict that Simon Property Group will post 12.38 earnings per share for the current year.

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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Analyst Recommendations for Simon Property Group (NYSE:SPG)

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