Simon Property Group (NYSE:SPG) Coverage Initiated by Analysts at Barclays

Investment analysts at Barclays assumed coverage on shares of Simon Property Group (NYSE:SPG - Get Free Report) in a report released on Wednesday, Marketbeat.com reports. The firm set an "equal weight" rating and a $170.00 price target on the real estate investment trust's stock. Barclays's target price indicates a potential upside of 2.50% from the company's current price.

SPG has been the topic of a number of other research reports. Mizuho lowered their price target on Simon Property Group from $182.00 to $169.00 and set a "neutral" rating on the stock in a research report on Tuesday, June 10th. Piper Sandler decreased their price objective 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. Scotiabank boosted their target price on Simon Property Group from $159.00 to $163.00 and gave the stock a "sector perform" rating in a research report on Tuesday, June 17th. Wall Street Zen cut shares of Simon Property Group from a "buy" rating to a "hold" rating in a research report on Saturday, March 29th. Finally, JPMorgan Chase & Co. decreased their price target on shares of Simon Property Group from $192.00 to $180.00 and set a "neutral" rating on the stock in a research note on Thursday, May 22nd. Seven analysts have rated the stock with a hold rating and four have given a buy rating to the company's stock. According to MarketBeat, the company currently has an average rating of "Hold" and an average target price of $178.50.

Simon Property Group Stock Performance

Shares of SPG stock traded up $1.59 during trading on Wednesday, reaching $165.86. 1,589,390 shares of the company's stock traded hands, compared to its average volume of 1,538,526. The firm's 50-day moving average is $160.21 and its 200 day moving average is $166.62. The company has a market capitalization of $54.14 billion, a P/E ratio of 26.41, a PEG ratio of 8.96 and a beta of 1.44. Simon Property Group has a 1 year low of $136.34 and a 1 year high of $190.14. The company has a current ratio of 1.45, a quick ratio of 1.45 and a debt-to-equity ratio of 8.29.

Simon Property Group (NYSE:SPG - Get Free Report) last posted its earnings results on Monday, May 12th. The real estate investment trust reported $2.95 earnings per share for the quarter, beating analysts' consensus estimates of $2.91 by $0.04. Simon Property Group had a return on equity of 67.32% and a net margin of 35.98%. The business had revenue of $1.47 billion during the quarter, compared to analyst estimates of $1.34 billion. During the same quarter in the previous year, the firm earned $3.56 EPS. The company's quarterly revenue was up 2.1% compared to the same quarter last year. Equities research analysts expect that Simon Property Group will post 12.54 EPS for the current year.

Insider Activity at Simon Property Group

In other Simon Property Group news, Director Stefan M. Selig purchased 219 shares of the stock in a transaction dated Monday, June 30th. The shares were purchased at an average cost of $159.29 per share, with a total value of $34,884.51. Following the completion of the acquisition, the director directly owned 31,881 shares in the company, valued at $5,078,324.49. This trade represents a 0.69% increase in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director Gary M. Rodkin acquired 246 shares of Simon Property Group stock in a transaction that occurred on Monday, June 30th. The stock was acquired at an average price of $159.29 per share, with a total value of $39,185.34. Following the completion of the acquisition, the director directly owned 19,010 shares in the company, valued at $3,028,102.90. This represents a 1.31% increase in their position. The disclosure for this purchase can be found here. Insiders have purchased 2,386 shares of company stock valued at $380,066 over the last ninety days. Corporate insiders own 8.60% of the company's stock.

Hedge Funds Weigh In On Simon Property Group

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Park Square Financial Group LLC raised its holdings in shares of Simon Property Group by 108.0% during the first 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. bought a new stake in Simon Property Group in the 4th quarter worth approximately $28,000. Richardson Financial Services Inc. raised its stake in Simon Property Group by 185.0% during the 1st 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 during the last quarter. Caisse Des Depots ET Consignations bought a new position in shares of Simon Property Group during the 4th quarter valued at $31,000. Finally, Continuum Advisory LLC boosted its stake in shares of Simon Property Group by 421.6% in the 1st quarter. Continuum Advisory LLC now owns 193 shares of the real estate investment trust's stock worth $32,000 after buying an additional 156 shares during the last quarter. Institutional investors own 93.01% of the company's stock.

Simon Property Group Company Profile

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.