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.
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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