Several other analysts have also recently issued reports on the company. Scotiabank increased their target price on Simon Property Group from $152.00 to $169.00 and gave the company a "sector perform" rating in a research report on Monday, August 26th. Piper Sandler reaffirmed a "neutral" rating and set a $175.00 target price (down previously from $190.00) on shares of Simon Property Group in a research report on Tuesday, September 3rd. Truist Financial increased their price objective on Simon Property Group from $147.00 to $158.00 and gave the company a "hold" rating in a report on Wednesday, August 28th. Evercore ISI upgraded Simon Property Group from an "in-line" rating to an "outperform" rating and increased their price objective for the company from $160.00 to $172.00 in a report on Monday, September 16th. Finally, Mizuho increased their price objective on Simon Property Group from $155.00 to $158.00 and gave the company a "neutral" rating in a report on Monday, August 19th. Seven research analysts have rated the stock with a hold rating and three have issued a buy rating to the company. Based on data from MarketBeat.com, Simon Property Group currently has a consensus rating of "Hold" and an average price target of $162.78.
Check Out Our Latest Research Report on Simon Property Group
NYSE:SPG traded down $1.40 during midday trading on Thursday, hitting $167.83. The stock had a trading volume of 741,073 shares, compared to its average volume of 1,472,533. Simon Property Group has a one year low of $104.05 and a one year high of $170.87. The company has a market capitalization of $54.72 billion, a price-to-earnings ratio of 21.38, a PEG ratio of 9.29 and a beta of 1.74. The stock has a 50-day moving average of $163.20 and a 200 day moving average of $153.65. The company has a quick ratio of 2.04, a current ratio of 2.04 and a debt-to-equity ratio of 7.53.
Simon Property Group (NYSE:SPG - Get Free Report) last announced its earnings results on Monday, August 5th. The real estate investment trust reported $1.51 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.93 by ($1.42). The company had revenue of $1.32 billion for the quarter, compared to the consensus estimate of $1.30 billion. Simon Property Group had a net margin of 45.90% and a return on equity of 78.14%. The firm's revenue was up 4.8% compared to the same quarter last year. During the same period last year, the business posted $2.88 EPS. As a group, sell-side analysts forecast that Simon Property Group will post 12.85 EPS for the current year.
In other news, Director Allan B. Hubbard bought 370 shares of Simon Property Group stock in a transaction that occurred on Monday, September 30th. The stock was bought at an average price of $167.30 per share, for a total transaction of $61,901.00. Following the purchase, the director now directly owns 34,301 shares of the company's stock, valued at approximately $5,738,557.30. The trade was a 0.00 % increase in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. 8.50% of the stock is currently owned by company insiders.
Several hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Diligent Investors LLC grew its position in Simon Property Group by 0.5% during the 2nd quarter. Diligent Investors LLC now owns 13,740 shares of the real estate investment trust's stock worth $2,086,000 after purchasing an additional 68 shares during the period. Augustine Asset Management Inc. grew its position in Simon Property Group by 3.8% during the 2nd quarter. Augustine Asset Management Inc. now owns 1,859 shares of the real estate investment trust's stock worth $282,000 after purchasing an additional 68 shares during the period. TIAA Trust National Association grew its position in Simon Property Group by 3.7% during the 1st quarter. TIAA Trust National Association now owns 1,913 shares of the real estate investment trust's stock worth $299,000 after purchasing an additional 69 shares during the period. Inspire Advisors LLC grew its position in Simon Property Group by 1.7% during the 1st quarter. Inspire Advisors LLC now owns 4,126 shares of the real estate investment trust's stock worth $646,000 after purchasing an additional 70 shares during the period. Finally, Mark Asset Management LP grew its position in Simon Property Group by 0.9% during the 2nd quarter. Mark Asset Management LP now owns 8,095 shares of the real estate investment trust's stock worth $1,229,000 after purchasing an additional 72 shares during the period. 93.01% of the stock is owned by institutional investors and hedge funds.
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.
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