Simon Property Group (NYSE:SPG) Upgraded by Stifel Nicolaus to Buy Rating

Simon Property Group (NYSE:SPG - Get Free Report) was upgraded by equities researchers at Stifel Nicolaus from a "hold" rating to a "buy" rating in a report released on Wednesday, Marketbeat.com reports. The firm currently has a $168.50 price target on the real estate investment trust's stock. Stifel Nicolaus' price objective suggests a potential upside of 12.42% from the company's current price.

Other equities analysts have also issued reports about the stock. Jefferies Financial Group upgraded shares of Simon Property Group from a "hold" rating to a "buy" rating and boosted their target price for the company from $179.00 to $198.00 in a report on Thursday, January 2nd. Deutsche Bank Aktiengesellschaft assumed coverage on Simon Property Group in a research report on Tuesday, December 17th. They issued a "hold" rating and a $195.00 price objective for the company. StockNews.com downgraded Simon Property Group from a "buy" rating to a "hold" rating in a research report on Saturday, March 29th. Scotiabank set a $186.00 price target on Simon Property Group in a report on Friday, February 28th. Finally, Piper Sandler upgraded shares of Simon Property Group from a "neutral" rating to an "overweight" rating and boosted their price objective for the company from $175.00 to $205.00 in a report on Wednesday, February 5th. Five equities research analysts have rated the stock with a hold rating and five have issued a buy rating to the company. Based on data from MarketBeat.com, Simon Property Group presently has a consensus rating of "Moderate Buy" and an average target price of $181.39.

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Simon Property Group Price Performance

SPG traded up $1.68 during midday trading on Wednesday, hitting $149.88. 364,315 shares of the company traded hands, compared to its average volume of 1,496,666. The business has a 50 day simple moving average of $170.08 and a two-hundred day simple moving average of $173.30. Simon Property Group has a 52-week low of $136.34 and a 52-week high of $190.14. The company has a market capitalization of $48.90 billion, a price-to-earnings ratio of 20.64, a PEG ratio of 10.10 and a beta of 1.45. The company has a current ratio of 1.28, a quick ratio of 2.00 and a debt-to-equity ratio of 7.19.

Simon Property Group (NYSE:SPG - Get Free Report) last posted its quarterly earnings data on Tuesday, February 4th. The real estate investment trust reported $3.68 EPS for the quarter, beating the consensus estimate of $1.98 by $1.70. Simon Property Group had a return on equity of 74.02% and a net margin of 41.49%. On average, equities analysts forecast 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 have recently made changes to their positions in the company. Morse Asset Management Inc bought a new stake in Simon Property Group in the third quarter valued at $155,000. EP Wealth Advisors LLC boosted its holdings in shares of Simon Property Group by 28.7% in the third quarter. EP Wealth Advisors LLC now owns 1,851 shares of the real estate investment trust's stock valued at $313,000 after acquiring an additional 413 shares in the last quarter. Orion Portfolio Solutions LLC boosted its holdings in shares of Simon Property Group by 13.3% in the third quarter. Orion Portfolio Solutions LLC now owns 10,139 shares of the real estate investment trust's stock valued at $1,714,000 after acquiring an additional 1,192 shares in the last quarter. MML Investors Services LLC increased its stake in shares of Simon Property Group by 7.1% during the third quarter. MML Investors Services LLC now owns 62,739 shares of the real estate investment trust's stock valued at $10,604,000 after acquiring an additional 4,144 shares during the period. Finally, MidWestOne Financial Group Inc. raised its holdings in Simon Property Group by 5.8% during the third quarter. MidWestOne Financial Group Inc. now owns 5,866 shares of the real estate investment trust's stock worth $991,000 after purchasing an additional 322 shares in the last quarter. 93.01% of the stock is currently owned by institutional investors.

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.