Simon Property Group (NYSE:SPG) Rating Lowered to Hold at Stifel Nicolaus

Simon Property Group (NYSE:SPG) was downgraded by Stifel Nicolaus from a “buy” rating to a “hold” rating in a research note issued on Tuesday, Marketbeat.com reports. They presently have a $179.00 price objective on the real estate investment trust’s stock. Stifel Nicolaus’ price target indicates a potential downside of 0.47% from the stock’s current price.

Several other research analysts have also recently issued reports on SPG. Scotiabank upped their price target on Simon Property Group from $163.00 to $173.00 and gave the company a “sector perform” rating in a report on Thursday, August 28th. JPMorgan Chase & Co. boosted their target price on Simon Property Group from $180.00 to $184.00 and gave the stock a “neutral” rating in a research report on Friday, August 22nd. LADENBURG THALM/SH SH assumed coverage on Simon Property Group in a report on Friday, July 18th. They set a “buy” rating and a $225.00 target price for the company. Barclays initiated coverage on Simon Property Group in a research note on Wednesday, July 2nd. They issued an “equal weight” rating and a $170.00 price target on the stock. Finally, Truist Financial boosted their price objective on Simon Property Group from $168.00 to $169.00 and gave the stock a “hold” rating in a report on Monday, August 25th. Four equities research analysts have rated the stock with a Buy rating and seven have issued a Hold rating to the stock. According to data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus price target of $184.91.

Simon Property Group Stock Up 0.5%

SPG opened at $179.84 on Tuesday. Simon Property Group has a 12 month low of $136.34 and a 12 month high of $190.13. The stock has a market cap of $58.72 billion, a P/E ratio of 27.80, a P/E/G ratio of 10.94 and a beta of 1.50. The stock’s 50 day moving average price is $168.19 and its 200 day moving average price is $164.59. The company has a debt-to-equity ratio of 9.05, a current ratio of 1.23 and a quick ratio of 1.23.

Simon Property Group (NYSE:SPG) last issued its quarterly earnings results on Monday, August 4th. The real estate investment trust reported $3.05 earnings per share for the quarter, topping analysts’ consensus estimates of $3.04 by $0.01. The company had revenue of $1.50 billion during the quarter, compared to analyst estimates of $1.40 billion. Simon Property Group had a net margin of 36.78% and a return on equity of 72.38%. The business’s revenue for the quarter was up 13.9% compared to the same quarter last year. During the same period in the prior year, the business posted $2.90 EPS. Simon Property Group has set its FY 2025 guidance at 12.450-12.650 EPS. As a group, research analysts predict that Simon Property Group will post 12.54 earnings per share for the current year.

Insider Buying and Selling at Simon Property Group

In other Simon Property Group news, Director Gary M. Rodkin acquired 246 shares of the company’s stock in a transaction dated 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 owned 19,010 shares of the company’s stock, valued at approximately $3,028,102.90. This trade represents a 1.31% increase in their position. The purchase was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, Director Larry C. Glasscock acquired 396 shares of the company’s stock in a transaction dated Monday, June 30th. The shares were bought at an average price of $159.29 per share, for a total transaction of $63,078.84. Following the acquisition, the director owned 43,185 shares in the company, valued at approximately $6,878,938.65. This trade represents a 0.93% increase in their position. The disclosure for this purchase can be found here. Insiders purchased 2,428 shares of company stock worth $387,271 in the last quarter. 8.60% of the stock is owned by corporate insiders.

Institutional Trading of Simon Property Group

Hedge funds have recently modified their holdings of the company. Brighton Jones LLC acquired a new position in Simon Property Group during the 4th quarter worth $295,000. Aptus Capital Advisors LLC raised its position in shares of Simon Property Group by 49.1% during the fourth quarter. Aptus Capital Advisors LLC now owns 2,408 shares of the real estate investment trust’s stock worth $415,000 after acquiring an additional 793 shares during the last quarter. Algert Global LLC raised its position in shares of Simon Property Group by 7.4% during the fourth quarter. Algert Global LLC now owns 16,771 shares of the real estate investment trust’s stock worth $2,888,000 after acquiring an additional 1,150 shares during the last quarter. Baker Avenue Asset Management LP lifted its stake in shares of Simon Property Group by 82.9% during the fourth quarter. Baker Avenue Asset Management LP now owns 2,550 shares of the real estate investment trust’s stock valued at $439,000 after acquiring an additional 1,156 shares during the period. Finally, Baird Financial Group Inc. boosted its holdings in Simon Property Group by 0.3% in the fourth quarter. Baird Financial Group Inc. now owns 40,265 shares of the real estate investment trust’s stock valued at $6,934,000 after acquiring an additional 140 shares during the last quarter. Institutional investors and hedge funds own 93.01% of the company’s stock.

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.