Simon Property Group (NYSE:SPG) Price Target Lowered to $200.00 at Piper Sandler

Simon Property Group (NYSE:SPG - Get Free Report) had its price objective decreased by analysts at Piper Sandler from $205.00 to $200.00 in a report issued on Friday,Benzinga reports. The brokerage currently has an "overweight" rating on the real estate investment trust's stock. Piper Sandler's price target suggests a potential upside of 27.45% from the company's current price.

A number of other research analysts have also weighed in on SPG. JPMorgan Chase & Co. cut 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. Scotiabank decreased their price target on Simon Property Group from $186.00 to $159.00 and set a "sector perform" rating for the company in a research note on Wednesday, April 23rd. Wall Street Zen lowered shares of Simon Property Group from a "buy" rating to a "hold" rating in a research note on Saturday, March 29th. Finally, Stifel Nicolaus upped their price objective on Simon Property Group from $168.50 to $180.00 and gave the company a "buy" rating in a research note on Tuesday, May 13th. Six research analysts have rated the stock with a hold rating and five have given a buy rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of "Hold" and a consensus price target of $179.20.

Simon Property Group Stock Performance

Shares of SPG opened at $156.92 on Friday. The company has a debt-to-equity ratio of 7.19, a current ratio of 1.28 and a quick ratio of 2.00. The company's fifty day moving average price is $157.90 and its 200 day moving average price is $170.63. The company has a market capitalization of $51.22 billion, a PE ratio of 21.64, a price-to-earnings-growth ratio of 10.10 and a beta of 1.43. Simon Property Group has a one year low of $136.34 and a one year high of $190.14.

Simon Property Group (NYSE:SPG - Get Free Report) last announced its quarterly 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. The firm had revenue of $1.47 billion for the quarter, compared to analysts' expectations of $1.34 billion. Simon Property Group had a return on equity of 74.02% and a net margin of 41.49%. The business's revenue was up 2.1% compared to the same quarter last year. During the same period in the prior year, the business posted $3.56 earnings per share. As a group, analysts expect that Simon Property Group will post 12.54 earnings per share for the current year.

Hedge Funds Weigh In On Simon Property Group

A number of institutional investors have recently modified their holdings of SPG. Vanguard Group Inc. increased its stake in Simon Property Group by 0.6% during the 1st quarter. Vanguard Group Inc. now owns 45,689,998 shares of the real estate investment trust's stock valued at $7,588,195,000 after buying an additional 267,503 shares during the period. Norges Bank bought a new position in Simon Property Group during the fourth quarter valued at about $2,059,505,000. Geode Capital Management LLC boosted its stake in Simon Property Group by 2.6% in the 4th quarter. Geode Capital Management LLC now owns 9,160,242 shares of the real estate investment trust's stock valued at $1,577,600,000 after buying an additional 230,982 shares in the last quarter. Northern Trust Corp lifted its position in shares of Simon Property Group by 1.8% during the first quarter. Northern Trust Corp now owns 5,558,982 shares of the real estate investment trust's stock worth $923,236,000 after purchasing an additional 96,126 shares in the last quarter. Finally, JPMorgan Chase & Co. lifted its holdings in Simon Property Group by 3.0% in the first quarter. JPMorgan Chase & Co. now owns 4,852,195 shares of the real estate investment trust's stock valued at $805,853,000 after buying an additional 141,657 shares during the period. Institutional investors and hedge funds own 93.01% of the company's stock.

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.

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