StockNews.com Downgrades Simon Property Group (NYSE:SPG) to Hold

Simon Property Group (NYSE:SPG) was downgraded by StockNews.com from a “buy” rating to a “hold” rating in a report issued on Saturday.

Several other analysts have also weighed in on the stock. Piper Sandler upgraded shares of Simon Property Group from a “neutral” rating to an “overweight” rating and lifted their price objective for the company from $175.00 to $205.00 in a research note on Wednesday, February 5th. Deutsche Bank Aktiengesellschaft started coverage on shares of Simon Property Group in a research report on Tuesday, December 17th. They issued a “hold” rating and a $195.00 price target for the company. Jefferies Financial Group raised shares of Simon Property Group from a “hold” rating to a “buy” rating and lifted their price objective for the stock from $179.00 to $198.00 in a report on Thursday, January 2nd. Finally, Mizuho lifted their price objective on shares of Simon Property Group from $158.00 to $182.00 and gave the stock a “neutral” rating in a report on Wednesday, December 4th. Six analysts have rated the stock with a hold rating and four have given a buy rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Hold” and a consensus target price of $178.44.

Simon Property Group Stock Down 2.0 %

Simon Property Group stock opened at $170.97 on Friday. The company has a debt-to-equity ratio of 7.19, a quick ratio of 2.00 and a current ratio of 1.28. Simon Property Group has a 52-week low of $139.25 and a 52-week high of $190.14. The firm has a 50 day moving average price of $178.03 and a two-hundred day moving average price of $174.60. The firm has a market cap of $55.78 billion, a price-to-earnings ratio of 23.55, a PEG ratio of 10.10 and a beta of 1.78.

Simon Property Group (NYSE:SPG) last released its quarterly earnings results on Tuesday, February 4th. The real estate investment trust reported $3.68 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.98 by $1.70. Simon Property Group had a net margin of 41.49% and a return on equity of 74.02%. Equities analysts predict that Simon Property Group will post 12.54 EPS for the current year.

Insider Activity at Simon Property Group

In other news, Director Reuben S. Leibowitz acquired 465 shares of the stock in a transaction that occurred on Monday, December 30th. The shares were acquired at an average cost of $168.59 per share, for a total transaction of $78,394.35. Following the purchase, the director now owns 55,919 shares of the company’s stock, valued at approximately $9,427,384.21. The trade was a 0.84 % increase in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 8.50% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Simon Property Group

Several hedge funds and other institutional investors have recently modified their holdings of the stock. Castle Rock Wealth Management LLC increased its position in shares of Simon Property Group by 2.6% during the fourth quarter. Castle Rock Wealth Management LLC now owns 8,880 shares of the real estate investment trust’s stock valued at $1,643,000 after buying an additional 223 shares during the period. Phocas Financial Corp. bought a new stake in shares of Simon Property Group during the fourth quarter valued at about $466,000. Universal Beteiligungs und Servicegesellschaft mbH bought a new stake in shares of Simon Property Group during the fourth quarter valued at about $94,746,000. Yoffe Investment Management LLC bought a new stake in shares of Simon Property Group during the fourth quarter valued at about $583,000. Finally, Ascent Group LLC increased its position in shares of Simon Property Group by 17.3% during the fourth quarter. Ascent Group LLC now owns 2,677 shares of the real estate investment trust’s stock valued at $461,000 after buying an additional 395 shares during the period. 93.01% of the stock is currently owned by institutional investors.

About Simon Property Group

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.