Simon Property Group (NYSE:SPG – Get Rating) had its price objective hoisted by analysts at UBS Group from $110.00 to $115.00 in a report released on Tuesday, MarketBeat.com reports. The firm currently has a “neutral” rating on the real estate investment trust’s stock. UBS Group’s price objective would suggest a potential upside of 7.55% from the stock’s previous close.
Several other brokerages also recently commented on SPG. Wells Fargo & Company cut their target price on Simon Property Group from $152.00 to $140.00 and set an “equal weight” rating on the stock in a report on Thursday, April 7th. Deutsche Bank Aktiengesellschaft cut their target price on Simon Property Group from $173.00 to $129.00 in a report on Monday, July 18th. Jefferies Financial Group downgraded Simon Property Group from a “buy” rating to a “hold” rating and cut their target price for the stock from $160.00 to $100.00 in a report on Thursday, June 30th. Truist Financial cut their target price on Simon Property Group from $155.00 to $130.00 in a report on Friday, June 3rd. Finally, Compass Point cut their target price on Simon Property Group from $200.00 to $160.00 and set a “buy” rating on the stock in a report on Wednesday, June 22nd. Five investment analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $145.07.
Simon Property Group Trading Up 1.4 %
NYSE SPG opened at $106.93 on Tuesday. The company has a quick ratio of 1.10, a current ratio of 1.10 and a debt-to-equity ratio of 6.82. Simon Property Group has a twelve month low of $93.06 and a twelve month high of $171.12. The company has a market cap of $35.14 billion, a price-to-earnings ratio of 16.68, a price-to-earnings-growth ratio of 2.55 and a beta of 1.49. The business’s fifty day moving average is $102.04 and its 200 day moving average is $121.62.
Institutional Trading of Simon Property Group
A number of hedge funds and other institutional investors have recently added to or reduced their stakes in SPG. Brown Advisory Inc. increased its holdings in Simon Property Group by 3.2% during the 4th quarter. Brown Advisory Inc. now owns 2,226 shares of the real estate investment trust’s stock worth $356,000 after purchasing an additional 69 shares in the last quarter. Allspring Global Investments Holdings LLC bought a new stake in Simon Property Group during the 4th quarter worth approximately $17,640,000. Commonwealth Equity Services LLC increased its holdings in Simon Property Group by 13.5% during the 4th quarter. Commonwealth Equity Services LLC now owns 87,583 shares of the real estate investment trust’s stock worth $13,993,000 after purchasing an additional 10,384 shares in the last quarter. Desjardins Global Asset Management Inc. bought a new stake in Simon Property Group during the 4th quarter worth approximately $167,000. Finally, D.A. Davidson & CO. increased its holdings in Simon Property Group by 1.8% during the 4th quarter. D.A. Davidson & CO. now owns 9,825 shares of the real estate investment trust’s stock worth $1,570,000 after purchasing an additional 174 shares in the last quarter. 91.62% of the stock is owned by institutional investors.
About Simon Property Group
Simon is a real estate investment trust engaged in the ownership of premier shopping, dining, entertainment and mixed-use destinations and an S&P 100 company (Simon Property Group, NYSE: SPG). Our properties across North America, Europe and Asia provide community gathering places for millions of people every day and generate billions in annual sales.
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