Mizuho Lowers Simon Property Group (NYSE:SPG) Price Target to $116.00

Simon Property Group (NYSE:SPG – Get Rating) had its price target decreased by stock analysts at Mizuho from $130.00 to $116.00 in a research report issued on Monday, The Fly reports. Mizuho’s target price would indicate a potential upside of 3.39% from the stock’s current price.

SPG has been the subject of a number of other reports. Deutsche Bank Aktiengesellschaft raised their target price on shares of Simon Property Group from $115.00 to $130.00 in a report on Tuesday, January 3rd. Citigroup increased their price target on shares of Simon Property Group from $100.00 to $120.00 in a report on Wednesday, December 14th. Truist Financial boosted their price objective on Simon Property Group from $125.00 to $130.00 and gave the stock a “hold” rating in a research note on Tuesday, February 21st. Piper Sandler raised their price objective on Simon Property Group from $130.00 to $145.00 in a research note on Tuesday, January 17th. Finally, StockNews.com cut Simon Property Group from a “buy” rating to a “hold” rating in a report on Thursday, March 2nd. Seven equities research analysts have rated the stock with a hold rating and five have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and an average target price of $130.58.

Simon Property Group Trading Up 0.7 %

Simon Property Group stock opened at $112.20 on Monday. Simon Property Group has a 1 year low of $86.02 and a 1 year high of $138.65. The firm’s 50 day moving average price is $123.04 and its 200-day moving average price is $113.23. The company has a debt-to-equity ratio of 6.99, a current ratio of 0.97 and a quick ratio of 0.97. The stock has a market cap of $36.68 billion, a P/E ratio of 17.21, a PEG ratio of 2.62 and a beta of 1.52.

Simon Property Group (NYSE:SPG – Get Rating) last released its quarterly earnings data on Monday, February 6th. The real estate investment trust reported $2.06 EPS for the quarter, missing the consensus estimate of $3.14 by ($1.08). Simon Property Group had a net margin of 40.43% and a return on equity of 60.33%. The company had revenue of $1.40 billion for the quarter, compared to the consensus estimate of $1.29 billion. During the same period last year, the company earned $3.09 EPS. The firm’s revenue for the quarter was up 5.6% on a year-over-year basis. On average, equities analysts predict that Simon Property Group will post 12.06 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Simon Property Group

Several large investors have recently added to or reduced their stakes in SPG. NewEdge Wealth LLC bought a new position in Simon Property Group in the second quarter worth approximately $519,000. Healthcare of Ontario Pension Plan Trust Fund increased its stake in shares of Simon Property Group by 725.3% during the second quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 67,601 shares of the real estate investment trust’s stock valued at $6,417,000 after buying an additional 59,410 shares during the period. Lincoln National Corp increased its stake in shares of Simon Property Group by 11.3% during the third quarter. Lincoln National Corp now owns 15,341 shares of the real estate investment trust’s stock valued at $1,377,000 after buying an additional 1,556 shares during the period. Pendal Group Ltd bought a new stake in shares of Simon Property Group in the third quarter valued at about $985,000. Finally, Treasurer of the State of North Carolina lifted its stake in Simon Property Group by 1.2% in the third quarter. Treasurer of the State of North Carolina now owns 144,294 shares of the real estate investment trust’s stock worth $12,950,000 after acquiring an additional 1,780 shares during the period. 83.89% of the stock is owned by hedge funds and other institutional investors.

Simon Property Group Company Profile

(Get Rating)

Simon Property Group, Inc operates as a self-administered and self-managed real estate investment trust. It owns, develops and manages retail real estate properties which primarily consist of regional malls, premium outlets and mills. Simon Property Group specializes in the ownership, development, management, leasing, acquisition and expansion of income-producing retail real estate assets.