Mizuho Has Lowered Expectations for Simon Property Group (NYSE:SPG) Stock Price

Simon Property Group (NYSE:SPG) had its target price lowered by equities research analysts at Mizuho from $182.00 to $169.00 in a research report issued on Tuesday,Benzinga reports. The firm currently has a “neutral” rating on the real estate investment trust’s stock. Mizuho’s price objective suggests a potential upside of 5.88% from the stock’s previous close.

SPG has been the topic of a number of other research reports. Wall Street Zen cut shares of Simon Property Group from a “buy” rating to a “hold” rating in a research note on Saturday, March 29th. JPMorgan Chase & Co. decreased their target price on shares of Simon Property Group from $192.00 to $180.00 and set a “neutral” rating on the stock in a research note on Thursday, May 22nd. Piper Sandler decreased their target price on shares of Simon Property Group from $205.00 to $200.00 and set an “overweight” rating on the stock in a research note on Friday, May 23rd. Scotiabank decreased their target price on shares of Simon Property Group from $186.00 to $159.00 and set a “sector perform” rating on the stock in a research note on Wednesday, April 23rd. Finally, Stifel Nicolaus boosted their price objective on shares of Simon Property Group from $168.50 to $180.00 and gave the stock a “buy” rating in a research note on Tuesday, May 13th. Six research analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. According to data from MarketBeat.com, Simon Property Group has a consensus rating of “Hold” and an average price target of $179.00.

Simon Property Group Stock Down 0.8%

Shares of SPG opened at $159.62 on Tuesday. Simon Property Group has a one year low of $136.34 and a one year high of $190.14. The company has a market cap of $52.10 billion, a P/E ratio of 21.99, a P/E/G ratio of 10.10 and a beta of 1.47. The company has a debt-to-equity ratio of 7.19, a current ratio of 1.28 and a quick ratio of 2.00. The firm has a 50 day simple moving average of $157.15 and a two-hundred day simple moving average of $168.88.

Simon Property Group (NYSE:SPG) last announced its quarterly earnings data on Monday, May 12th. The real estate investment trust reported $2.95 EPS for the quarter, beating the consensus estimate of $2.91 by $0.04. Simon Property Group had a net margin of 41.49% and a return on equity of 74.02%. The business had revenue of $1.47 billion during the quarter, compared to the consensus estimate of $1.34 billion. During the same period in the previous year, the business earned $3.56 earnings per share. The company’s revenue was up 2.1% on a year-over-year basis. Research analysts forecast that Simon Property Group will post 12.54 EPS for the current fiscal year.

Institutional Trading of Simon Property Group

Institutional investors have recently bought and sold shares of the company. Asset Management One Co. Ltd. boosted its position in Simon Property Group by 0.7% during the fourth quarter. Asset Management One Co. Ltd. now owns 587,933 shares of the real estate investment trust’s stock valued at $101,130,000 after acquiring an additional 3,990 shares during the last quarter. Brighton Jones LLC acquired a new position in shares of Simon Property Group during the fourth quarter valued at about $295,000. Allworth Financial LP raised its holdings in shares of Simon Property Group by 140.6% during the fourth quarter. Allworth Financial LP now owns 3,152 shares of the real estate investment trust’s stock valued at $545,000 after purchasing an additional 1,842 shares during the period. Principal Securities Inc. raised its holdings in shares of Simon Property Group by 4.2% during the fourth quarter. Principal Securities Inc. now owns 4,140 shares of the real estate investment trust’s stock valued at $713,000 after purchasing an additional 166 shares during the period. Finally, PNC Financial Services Group Inc. raised its holdings in shares of Simon Property Group by 7.7% during the fourth quarter. PNC Financial Services Group Inc. now owns 361,893 shares of the real estate investment trust’s stock valued at $62,322,000 after purchasing an additional 25,987 shares during the period. Institutional investors own 93.01% of the company’s stock.

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.