Simon Property Group (NYSE:SPG) Given New $180.00 Price Target at JPMorgan Chase & Co.

Simon Property Group (NYSE:SPG - Get Free Report) had its price objective decreased by stock analysts at JPMorgan Chase & Co. from $192.00 to $180.00 in a research note issued to investors on Thursday,Benzinga reports. The firm currently has a "neutral" rating on the real estate investment trust's stock. JPMorgan Chase & Co.'s target price indicates a potential upside of 14.86% from the company's current price.

Other equities research analysts also recently issued research reports about the company. Scotiabank lowered their price target on Simon Property Group from $186.00 to $159.00 and set a "sector perform" rating for the company in a report on Wednesday, April 23rd. Piper Sandler raised shares of Simon Property Group from a "neutral" rating to an "overweight" rating and increased their price objective for the company from $175.00 to $205.00 in a research report on Wednesday, February 5th. Stifel Nicolaus upped their price target on shares of Simon Property Group from $168.50 to $180.00 and gave the company a "buy" rating in a research note on Tuesday, May 13th. Finally, StockNews.com cut shares of Simon Property Group from a "buy" rating to a "hold" rating in a report on Saturday, March 29th. Six research analysts have rated the stock with a hold rating and five have given a buy rating to the company's stock. According to data from MarketBeat.com, the company currently has a consensus rating of "Hold" and a consensus target price of $179.70.

Simon Property Group Stock Down 0.9%

Simon Property Group stock traded down $1.40 during trading hours on Thursday, reaching $156.72. The stock had a trading volume of 178,296 shares, compared to its average volume of 1,532,425. The company has a market cap of $51.16 billion, a price-to-earnings ratio of 21.59, a PEG ratio of 10.10 and a beta of 1.43. The business's 50 day moving average price is $158.08 and its 200-day moving average price is $170.73. Simon Property Group has a 52 week low of $136.34 and a 52 week high of $190.14. The company has a debt-to-equity ratio of 7.19, a current ratio of 1.28 and a quick ratio of 2.00.

Simon Property Group (NYSE:SPG - Get Free Report) last posted its quarterly earnings data on Monday, May 12th. The real estate investment trust reported $2.95 EPS for the quarter, topping the consensus estimate of $2.91 by $0.04. The firm had revenue of $1.47 billion during 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 revenue was up 2.1% on a year-over-year basis. During the same quarter in the previous year, the business posted $3.56 EPS. Sell-side analysts anticipate that Simon Property Group will post 12.54 EPS for the current year.

Institutional Investors Weigh In On Simon Property Group

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

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.

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