Simon Property Group (NYSE:SPG) Price Target Increased to $168.00 by Analysts at Argus

Simon Property Group (NYSE:SPGGet Free Report) had its price objective increased by equities researchers at Argus from $157.00 to $168.00 in a research note issued on Tuesday, Benzinga reports. The brokerage presently has a “buy” rating on the real estate investment trust’s stock. Argus’ price target would suggest a potential upside of 10.50% from the stock’s current price.

Several other research firms also recently weighed in on SPG. Scotiabank boosted their price target on Simon Property Group from $142.00 to $152.00 and gave the company a “sector perform” rating in a research note on Thursday, May 16th. Truist Financial increased their price target on shares of Simon Property Group from $139.00 to $147.00 and gave the stock a “hold” rating in a report on Friday, March 22nd. Morgan Stanley lifted their price objective on shares of Simon Property Group from $143.00 to $145.00 and gave the company an “equal weight” rating in a research note on Monday, February 26th. StockNews.com raised shares of Simon Property Group from a “hold” rating to a “buy” rating in a report on Thursday, April 18th. Finally, Evercore ISI upped their price target on shares of Simon Property Group from $142.00 to $150.00 and gave the company an “in-line” rating in a report on Wednesday, February 28th. Five investment analysts have rated the stock with a hold rating and six have issued a buy rating to the company’s stock. According to MarketBeat, Simon Property Group currently has an average rating of “Moderate Buy” and an average target price of $147.60.

Read Our Latest Stock Analysis on SPG

Simon Property Group Stock Up 0.2 %

Simon Property Group stock opened at $152.04 on Tuesday. The company has a quick ratio of 2.19, a current ratio of 2.19 and a debt-to-equity ratio of 7.20. The firm has a market cap of $49.56 billion, a P/E ratio of 19.37, a P/E/G ratio of 9.03 and a beta of 1.71. The business has a fifty day moving average of $146.71 and a two-hundred day moving average of $144.81. Simon Property Group has a twelve month low of $102.11 and a twelve month high of $157.82.

Simon Property Group (NYSE:SPGGet Free Report) last announced its earnings results on Monday, May 6th. The real estate investment trust reported $2.25 earnings per share for the quarter, missing the consensus estimate of $2.80 by ($0.55). Simon Property Group had a net margin of 46.49% and a return on equity of 78.50%. The firm had revenue of $1.44 billion during the quarter, compared to analyst estimates of $1.31 billion. During the same quarter last year, the business earned $2.74 earnings per share. Simon Property Group’s revenue was up 6.8% on a year-over-year basis. On average, analysts forecast that Simon Property Group will post 12.84 earnings per share for the current fiscal year.

Institutional Trading of Simon Property Group

Several institutional investors have recently added to or reduced their stakes in SPG. TIAA Trust National Association increased its position in shares of Simon Property Group by 3.7% in the 1st quarter. TIAA Trust National Association now owns 1,913 shares of the real estate investment trust’s stock valued at $299,000 after purchasing an additional 69 shares during the last quarter. Inspire Advisors LLC increased 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. Coldstream Capital Management Inc. increased its holdings in shares of Simon Property Group by 1.5% in the 4th quarter. Coldstream Capital Management Inc. now owns 5,192 shares of the real estate investment trust’s stock valued at $741,000 after purchasing an additional 77 shares in the last quarter. Bleakley Financial Group LLC grew its holdings in shares of Simon Property Group by 1.3% in the 1st quarter. Bleakley Financial Group LLC now owns 6,033 shares of the real estate investment trust’s stock worth $944,000 after acquiring an additional 78 shares during the period. Finally, Cascade Investment Group Inc. increased its position in shares of Simon Property Group by 0.5% in the fourth quarter. Cascade Investment Group Inc. now owns 14,701 shares of the real estate investment trust’s stock valued at $2,097,000 after buying an additional 80 shares in the last quarter. Institutional investors and hedge funds own 93.01% of the company’s stock.

About Simon Property Group

(Get Free Report)

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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