Simon Property Group (NYSE:SPG) had its target price lifted by Stifel Nicolaus from $70.00 to $75.00 in a research report issued on Tuesday, BenzingaRatingsTable reports. The firm currently has a “hold” rating on the real estate investment trust’s stock. Stifel Nicolaus’ price target would suggest a potential upside of 6.82% from the company’s previous close.

Other equities research analysts have also recently issued reports about the stock. Morgan Stanley decreased their price target on shares of Simon Property Group from $120.00 to $63.00 and set an “equal weight” rating for the company in a report on Tuesday, March 24th. Wells Fargo & Co lowered shares of Simon Property Group from an “overweight” rating to an “equal weight” rating and dropped their price objective for the stock from $130.00 to $60.00 in a report on Thursday, May 7th. SunTrust Banks reduced their price objective on shares of Simon Property Group from $140.00 to $80.00 and set a “hold” rating on the stock in a research note on Friday, April 24th. Zacks Investment Research raised shares of Simon Property Group from a “sell” rating to a “hold” rating and set a $60.00 price target on the stock in a research report on Monday, May 11th. Finally, BTIG Research reiterated a “buy” rating and issued a $99.00 price target on shares of Simon Property Group in a research note on Friday, June 12th. Two research analysts have rated the stock with a sell rating, eleven have given a hold rating and four have assigned a buy rating to the company’s stock. Simon Property Group has a consensus rating of “Hold” and a consensus price target of $96.38.

Shares of NYSE SPG opened at $70.21 on Tuesday. The company has a debt-to-equity ratio of 11.16, a quick ratio of 3.60 and a current ratio of 3.60. The firm has a market cap of $21.83 billion, a price-to-earnings ratio of 10.55, a PEG ratio of 1.16 and a beta of 1.33. Simon Property Group has a 1 year low of $42.25 and a 1 year high of $165.48. The stock’s 50-day simple moving average is $65.07 and its 200-day simple moving average is $98.05.

Simon Property Group (NYSE:SPG) last issued its quarterly earnings data on Monday, May 11th. The real estate investment trust reported $1.43 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $2.90 by ($1.47). The business had revenue of $1.35 billion for the quarter, compared to analyst estimates of $1.33 billion. Simon Property Group had a return on equity of 68.08% and a net margin of 35.20%. The business’s quarterly revenue was down 6.9% on a year-over-year basis. During the same quarter in the prior year, the firm posted $1.78 earnings per share. As a group, research analysts predict that Simon Property Group will post 10.72 EPS for the current year.

In other Simon Property Group news, Director Glyn Aeppel bought 1,000 shares of the firm’s stock in a transaction dated Friday, May 15th. The stock was acquired at an average cost of $50.50 per share, for a total transaction of $50,500.00. Following the completion of the transaction, the director now owns 8,317 shares in the company, valued at $420,008.50. The acquisition was disclosed in a document filed with the SEC, which is available through this link. 8.93% of the stock is owned by company insiders.

Several hedge funds have recently modified their holdings of SPG. National Asset Management Inc. purchased a new stake in shares of Simon Property Group in the fourth quarter worth about $277,000. Assetmark Inc. raised its holdings in Simon Property Group by 1,307.8% during the fourth quarter. Assetmark Inc. now owns 24,975 shares of the real estate investment trust’s stock worth $3,720,000 after purchasing an additional 23,201 shares during the last quarter. Mid Atlantic Financial Management Inc. ADV acquired a new position in Simon Property Group during the fourth quarter worth $288,000. Envestnet Asset Management Inc. raised its holdings in shares of Simon Property Group by 33.1% in the fourth quarter. Envestnet Asset Management Inc. now owns 150,911 shares of the real estate investment trust’s stock worth $22,480,000 after acquiring an additional 37,513 shares during the last quarter. Finally, Eaton Vance Management raised its holdings in shares of Simon Property Group by 123.6% in the fourth quarter. Eaton Vance Management now owns 399,939 shares of the real estate investment trust’s stock worth $59,575,000 after acquiring an additional 221,087 shares during the last quarter. Institutional investors and hedge funds own 90.22% of the company’s stock.

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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