Simon Property Group (NYSE:SPG) PT Raised to $168.00

Simon Property Group (NYSE:SPGGet Free Report) had its target price upped by analysts at Argus from $157.00 to $168.00 in a research report issued on Tuesday, Benzinga reports. The brokerage presently has a “buy” rating on the real estate investment trust’s stock. Argus’ price objective indicates a potential upside of 10.50% from the company’s current price.

A number of other research analysts also recently weighed in on SPG. StockNews.com raised shares of Simon Property Group from a “hold” rating to a “buy” rating in a research report on Thursday, April 18th. Scotiabank raised their price target on Simon Property Group from $142.00 to $152.00 and gave the company a “sector perform” rating in a research note on Thursday, May 16th. Evercore ISI boosted their price target on Simon Property Group from $142.00 to $150.00 and gave the stock an “in-line” rating in a research report on Wednesday, February 28th. Morgan Stanley increased their price objective on Simon Property Group from $143.00 to $145.00 and gave the company an “equal weight” rating in a report on Monday, February 26th. Finally, Truist Financial boosted their target price on shares of Simon Property Group from $139.00 to $147.00 and gave the stock a “hold” rating in a report on Friday, March 22nd. Five equities research analysts have rated the stock with a hold rating and six have issued a buy rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $147.60.

Check Out Our Latest Research Report on Simon Property Group

Simon Property Group Stock Performance

Shares of Simon Property Group stock opened at $152.04 on Tuesday. The company has a debt-to-equity ratio of 7.20, a current ratio of 2.19 and a quick ratio of 2.19. The firm has a market cap of $49.56 billion, a price-to-earnings ratio of 19.37, a price-to-earnings-growth ratio of 9.03 and a beta of 1.71. The stock’s 50-day moving average is $146.71 and its 200-day moving average is $144.81. Simon Property Group has a one year low of $102.11 and a one year high of $157.82.

Simon Property Group (NYSE:SPGGet Free Report) last released its earnings results on Monday, May 6th. The real estate investment trust reported $2.25 EPS for the quarter, missing the consensus estimate of $2.80 by ($0.55). The firm had revenue of $1.44 billion during the quarter, compared to the consensus estimate of $1.31 billion. Simon Property Group had a net margin of 46.49% and a return on equity of 78.50%. The company’s revenue was up 6.8% on a year-over-year basis. During the same quarter in the previous year, the firm posted $2.74 EPS. Equities analysts predict that Simon Property Group will post 12.84 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Simon Property Group

Several institutional investors and hedge funds have recently made changes to their positions in SPG. Clearstead Trust LLC bought a new position in Simon Property Group during the first quarter worth about $25,000. EntryPoint Capital LLC acquired a new position in shares of Simon Property Group during the 1st quarter worth approximately $26,000. Cape Investment Advisory Inc. raised its position in shares of Simon Property Group by 3,200.0% in the fourth quarter. Cape Investment Advisory Inc. now owns 198 shares of the real estate investment trust’s stock valued at $28,000 after buying an additional 192 shares in the last quarter. Pathway Financial Advisers LLC bought a new stake in shares of Simon Property Group in the first quarter valued at approximately $29,000. Finally, Hillsdale Investment Management Inc. acquired a new stake in Simon Property Group during the first quarter worth approximately $33,000. Institutional investors and hedge funds own 93.01% of the company’s stock.

Simon Property Group Company Profile

(Get Free Report)

Simon is a real estate investment trust engaged 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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