Simon Property Group (NYSE:SPG) Rating Increased to Overweight at Piper Sandler

Simon Property Group (NYSE:SPG) was upgraded by stock analysts at Piper Sandler from a “neutral” rating to an “overweight” rating in a report released on Wednesday,Briefing.com Automated Import reports. The brokerage currently has a $205.00 price objective on the real estate investment trust’s stock, up from their prior price objective of $175.00. Piper Sandler’s target price points to a potential upside of 18.29% from the stock’s current price.

Other research analysts have also recently issued research reports about the stock. Jefferies Financial Group raised shares of Simon Property Group from a “hold” rating to a “buy” rating and increased their target price for the stock from $179.00 to $198.00 in a report on Thursday, January 2nd. StockNews.com downgraded shares of Simon Property Group from a “buy” rating to a “hold” rating in a research note on Thursday, October 10th. Deutsche Bank Aktiengesellschaft initiated coverage on shares of Simon Property Group in a research note on Tuesday, December 17th. They set a “hold” rating and a $195.00 target price on the stock. Finally, Mizuho increased their price target on Simon Property Group from $158.00 to $182.00 and gave the company a “neutral” rating in a research note on Wednesday, December 4th. Seven equities research analysts have rated the stock with a hold rating and four have given a buy rating to the company. According to MarketBeat.com, Simon Property Group currently has an average rating of “Hold” and a consensus price target of $175.10.

Simon Property Group Stock Performance

Shares of NYSE:SPG opened at $173.30 on Wednesday. Simon Property Group has a 1 year low of $135.15 and a 1 year high of $186.00. The stock has a market capitalization of $56.54 billion, a price-to-earnings ratio of 23.08, a price-to-earnings-growth ratio of 9.31 and a beta of 1.74. The company has a debt-to-equity ratio of 8.20, a current ratio of 2.00 and a quick ratio of 2.00. The company’s 50 day simple moving average is $175.74 and its 200 day simple moving average is $170.06.

Simon Property Group (NYSE:SPG) last issued its quarterly earnings results on Tuesday, February 4th. The real estate investment trust reported $3.68 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.98 by $1.70. Simon Property Group had a return on equity of 76.21% and a net margin of 43.36%. As a group, research analysts predict that Simon Property Group will post 12.72 EPS for the current fiscal year.

Insider Transactions at Simon Property Group

In related news, Director Reuben S. Leibowitz acquired 465 shares of the stock in a transaction dated Monday, December 30th. The stock was bought at an average price of $168.59 per share, for a total transaction of $78,394.35. Following the purchase, the director now directly owns 55,919 shares of the company’s stock, valued at $9,427,384.21. The trade was a 0.84 % increase in their position. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. 8.60% of the stock is currently owned by corporate insiders.

Institutional Trading of Simon Property Group

Large investors have recently made changes to their positions in the company. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its holdings in Simon Property Group by 617.5% in the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 3,191,296 shares of the real estate investment trust’s stock worth $539,393,000 after acquiring an additional 2,746,503 shares in the last quarter. Los Angeles Capital Management LLC lifted its holdings in shares of Simon Property Group by 373.6% in the 3rd quarter. Los Angeles Capital Management LLC now owns 1,259,648 shares of the real estate investment trust’s stock worth $212,906,000 after purchasing an additional 993,694 shares in the last quarter. International Assets Investment Management LLC grew its position in Simon Property Group by 18,764.1% in the 3rd quarter. International Assets Investment Management LLC now owns 892,085 shares of the real estate investment trust’s stock valued at $150,780,000 after purchasing an additional 887,356 shares during the period. Hamlin Capital Management LLC bought a new stake in Simon Property Group during the 4th quarter valued at $109,403,000. Finally, Mizuho Securities USA LLC raised its holdings in Simon Property Group by 2,520.3% during the third quarter. Mizuho Securities USA LLC now owns 658,191 shares of the real estate investment trust’s stock worth $111,247,000 after buying an additional 633,072 shares during the last quarter. 93.01% of the stock is currently owned by institutional investors and hedge funds.

Simon Property Group Company Profile

Simon Property Group, Inc (NYSE:SPG) is a self-administered and self-managed real estate investment trust (REIT). Simon Property Group, L.P., or the Operating Partnership, is our majority-owned partnership subsidiary that owns all of our real estate properties and other assets. In this package, the terms Simon, we, our, or the Company refer to Simon Property Group, Inc, the Operating Partnership, and its subsidiaries.