Simon Property Group (NYSE:SPG) Upgraded at StockNews.com

Simon Property Group (NYSE:SPG - Get Free Report) was upgraded by investment analysts at StockNews.com from a "hold" rating to a "buy" rating in a research report issued on Tuesday.

A number of other analysts have also recently weighed in on SPG. The Goldman Sachs Group increased their price objective on shares of Simon Property Group from $144.00 to $161.00 and gave the stock a "buy" rating in a report on Thursday, December 21st. Evercore ISI boosted their price objective on Simon Property Group from $142.00 to $150.00 and gave the stock an "in-line" rating in a research report on Wednesday, February 28th. Piper Sandler raised their target price on Simon Property Group from $148.00 to $172.00 and gave the company an "overweight" rating in a research report on Wednesday, December 20th. Truist Financial boosted their price target on Simon Property Group from $139.00 to $147.00 and gave the stock a "hold" rating in a research report on Friday, March 22nd. Finally, Morgan Stanley raised their price target on Simon Property Group from $143.00 to $145.00 and gave the company an "equal weight" rating in a report on Monday, February 26th. Four investment analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. Based on data from MarketBeat, the company has a consensus rating of "Moderate Buy" and a consensus target price of $140.22.

Simon Property Group Trading Down 0.1 %

Shares of SPG stock traded down $0.17 during mid-day trading on Tuesday, hitting $150.19. 1,006,501 shares of the company's stock were exchanged, compared to its average volume of 1,534,960. The company has a quick ratio of 1.77, a current ratio of 1.77 and a debt-to-equity ratio of 7.54. The stock has a market cap of $48.95 billion, a price-to-earnings ratio of 21.52, a PEG ratio of 7.88 and a beta of 1.65. Simon Property Group has a fifty-two week low of $100.17 and a fifty-two week high of $157.82. The stock has a 50-day simple moving average of $149.14 and a two-hundred day simple moving average of $133.93.

Simon Property Group (NYSE:SPG - Get Free Report) last announced its quarterly earnings results on Monday, February 5th. The real estate investment trust reported $2.29 earnings per share (EPS) for the quarter, missing the consensus estimate of $3.34 by ($1.05). The company had revenue of $1.53 billion during the quarter, compared to analyst estimates of $1.38 billion. Simon Property Group had a net margin of 42.30% and a return on equity of 70.97%. The firm's revenue for the quarter was up 9.1% on a year-over-year basis. During the same quarter in the prior year, the company posted $3.15 earnings per share. Equities analysts expect that Simon Property Group will post 12.06 EPS for the current fiscal year.

Simon Property Group declared that its Board of Directors has approved a stock repurchase plan on Thursday, February 8th that authorizes the company to buyback $2.00 billion in outstanding shares. This buyback authorization authorizes the real estate investment trust to reacquire up to 4.2% of its stock through open market purchases. Stock buyback plans are usually an indication that the company's leadership believes its stock is undervalued.

Institutional Investors Weigh In On Simon Property Group

A number of hedge funds have recently bought and sold shares of the company. Arlington Trust Co LLC bought a new stake in shares of Simon Property Group in the third quarter valued at approximately $25,000. DT Investment Partners LLC boosted its holdings in Simon Property Group by 714.3% in the 3rd quarter. DT Investment Partners LLC now owns 228 shares of the real estate investment trust's stock valued at $25,000 after purchasing an additional 200 shares during the period. Selway Asset Management acquired a new stake in Simon Property Group in the 3rd quarter worth $26,000. Financial Freedom LLC acquired a new position in shares of Simon Property Group during the fourth quarter valued at about $27,000. Finally, Tyler Stone Wealth Management bought a new stake in shares of Simon Property Group in the second quarter valued at about $27,000. 93.01% of the stock is currently 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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