Simon Property Group (NYSE:SPG) Now Covered by Analysts at Barclays

Stock analysts at Barclays initiated coverage on shares of Simon Property Group (NYSE:SPG) in a research note issued on Wednesday, Marketbeat reports. The brokerage set an “equal weight” rating and a $170.00 price target on the real estate investment trust’s stock. Barclays‘s target price indicates a potential upside of 2.12% from the stock’s previous close.

Other equities research analysts also recently issued reports about the stock. Mizuho lowered their price target on shares of Simon Property Group from $182.00 to $169.00 and set a “neutral” rating on the stock in a report on Tuesday, June 10th. Piper Sandler lowered 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. Wall Street Zen lowered shares of Simon Property Group from a “buy” rating to a “hold” rating in a research report on Saturday, March 29th. Stifel Nicolaus increased their price objective on Simon Property Group from $168.50 to $180.00 and gave the stock a “buy” rating in a research report on Tuesday, May 13th. Finally, JPMorgan Chase & Co. reduced their target price on Simon Property Group from $192.00 to $180.00 and set a “neutral” rating for the company in a research report on Thursday, May 22nd. Seven investment analysts have rated the stock with a hold rating and four have given a buy rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of “Hold” and an average price target of $178.50.

Simon Property Group Stock Performance

Shares of SPG stock opened at $166.47 on Wednesday. Simon Property Group has a 12 month low of $136.34 and a 12 month high of $190.14. The stock has a market capitalization of $54.34 billion, a P/E ratio of 26.51, a PEG ratio of 9.25 and a beta of 1.43. The company has a current ratio of 1.45, a quick ratio of 1.45 and a debt-to-equity ratio of 8.29. The firm’s 50 day moving average is $160.66 and its 200 day moving average is $166.50.

Simon Property Group (NYSE:SPG) last announced its quarterly earnings results on Monday, May 12th. The real estate investment trust reported $2.95 earnings per share for the quarter, beating the consensus estimate of $2.91 by $0.04. Simon Property Group had a return on equity of 67.32% and a net margin of 35.98%. The company had revenue of $1.47 billion during the quarter, compared to analysts’ expectations of $1.34 billion. During the same period in the previous year, the business earned $3.56 earnings per share. The firm’s quarterly revenue was up 2.1% compared to the same quarter last year. On average, sell-side analysts anticipate that Simon Property Group will post 12.54 earnings per share for the current year.

Insider Transactions at Simon Property Group

In other news, Director Daniel C. Smith bought 378 shares of the business’s stock in a transaction on Monday, June 30th. The stock was acquired at an average price of $159.29 per share, with a total value of $60,211.62. Following the completion of the purchase, the director directly owned 31,998 shares in the company, valued at $5,096,961.42. This represents a 1.20% increase in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Also, Director Gary M. Rodkin purchased 246 shares of the firm’s stock in a transaction on Monday, June 30th. The shares were acquired at an average cost of $159.29 per share, for a total transaction of $39,185.34. Following the completion of the purchase, the director directly owned 19,010 shares of the company’s stock, valued at approximately $3,028,102.90. This represents a 1.31% increase in their position. The disclosure for this purchase can be found here. In the last three months, insiders bought 2,386 shares of company stock worth $380,066. Company insiders own 8.66% of the company’s stock.

Institutional Investors Weigh In On Simon Property Group

Institutional investors have recently made changes to their positions in the business. Brighton Jones LLC purchased a new position in Simon Property Group in the 4th quarter worth approximately $295,000. Smartleaf Asset Management LLC grew its holdings in shares of Simon Property Group by 37.2% in the fourth quarter. Smartleaf Asset Management LLC now owns 2,801 shares of the real estate investment trust’s stock worth $479,000 after purchasing an additional 759 shares during the last quarter. SRS Capital Advisors Inc. grew its holdings in shares of Simon Property Group by 236.0% in the fourth quarter. SRS Capital Advisors Inc. now owns 1,196 shares of the real estate investment trust’s stock worth $206,000 after purchasing an additional 840 shares during the last quarter. Modera Wealth Management LLC increased its stake in shares of Simon Property Group by 14.2% in the fourth quarter. Modera Wealth Management LLC now owns 1,621 shares of the real estate investment trust’s stock worth $279,000 after buying an additional 201 shares during the period. Finally, Mission Wealth Management LP raised its holdings in Simon Property Group by 8.6% during the 4th quarter. Mission Wealth Management LP now owns 1,974 shares of the real estate investment trust’s stock valued at $340,000 after buying an additional 157 shares during the last quarter. Hedge funds and other 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.