Mizuho Lowers Simon Property Group (NYSE:SPG) Price Target to $169.00

Simon Property Group (NYSE:SPG - Get Free Report) had its price objective reduced by investment analysts at Mizuho from $182.00 to $169.00 in a research report issued on Tuesday,Benzinga reports. The firm currently has a "neutral" rating on the real estate investment trust's stock. Mizuho's price target would suggest a potential upside of 5.30% from the company's previous close.

Several other equities research analysts have also recently commented on SPG. Wall Street Zen cut Simon Property Group from a "buy" rating to a "hold" rating in a report on Saturday, March 29th. JPMorgan Chase & Co. cut their target price on Simon Property Group from $192.00 to $180.00 and set a "neutral" rating for the company in a research note on Thursday, May 22nd. Piper Sandler reduced their price target on Simon Property Group from $205.00 to $200.00 and set an "overweight" rating on the stock in a report on Friday, May 23rd. Stifel Nicolaus upped their price objective on shares of Simon Property Group from $168.50 to $180.00 and gave the company a "buy" rating in a report on Tuesday, May 13th. Finally, Scotiabank reduced their target price on shares of Simon Property Group from $186.00 to $159.00 and set a "sector perform" rating on the stock in a research note on Wednesday, April 23rd. Six investment analysts have rated the stock with a hold rating and five have given a buy rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of "Hold" and a consensus target price of $177.90.

Simon Property Group Price Performance

Shares of Simon Property Group stock traded down $0.39 during trading hours on Tuesday, reaching $160.50. 468,928 shares of the company's stock were exchanged, compared to its average volume of 1,538,356. The business has a fifty day moving average of $156.88 and a two-hundred day moving average of $168.94. The company has a market capitalization of $52.39 billion, a P/E ratio of 22.11, a price-to-earnings-growth ratio of 10.10 and a beta of 1.47. The company has a quick ratio of 2.00, a current ratio of 1.28 and a debt-to-equity ratio of 7.19. Simon Property Group has a 1 year low of $136.34 and a 1 year high of $190.14.

Simon Property Group (NYSE:SPG - Get Free Report) last posted its quarterly earnings results on Monday, May 12th. The real estate investment trust reported $2.95 earnings per share for the quarter, topping analysts' consensus estimates of $2.91 by $0.04. The firm had revenue of $1.47 billion for the quarter, compared to analyst estimates of $1.34 billion. Simon Property Group had a net margin of 41.49% and a return on equity of 74.02%. Simon Property Group's quarterly revenue was up 2.1% on a year-over-year basis. During the same period in the previous year, the business posted $3.56 earnings per share. As a group, research analysts predict that Simon Property Group will post 12.54 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Simon Property Group

Institutional investors and hedge funds have recently made changes to their positions in the stock. Park Square Financial Group LLC increased its holdings in Simon Property Group by 108.0% in the 1st quarter. Park Square Financial Group LLC now owns 156 shares of the real estate investment trust's stock valued at $26,000 after purchasing an additional 81 shares during the last quarter. Hopwood Financial Services Inc. purchased a new position in shares of Simon Property Group during the fourth quarter worth $28,000. Richardson Financial Services Inc. grew its stake in shares of Simon Property Group by 185.0% in the first quarter. Richardson Financial Services Inc. now owns 171 shares of the real estate investment trust's stock valued at $28,000 after buying an additional 111 shares in the last quarter. WR Wealth Planners LLC grew its stake in shares of Simon Property Group by 328.2% in the fourth quarter. WR Wealth Planners LLC now owns 167 shares of the real estate investment trust's stock valued at $29,000 after buying an additional 128 shares in the last quarter. Finally, New England Capital Financial Advisors LLC purchased a new stake in shares of Simon Property Group in the 4th quarter valued at $30,000. 93.01% of the stock is owned by hedge funds and other institutional investors.

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.