Simon Property Group (NYSE:SPG) has been assigned a $185.00 target price by analysts at Raymond James Financial in a research report issued on Sunday, December 3rd. The firm presently has a “buy” rating on the real estate investment trust’s stock. Raymond James Financial’s price target suggests a potential upside of 7.72% from the stock’s previous close.
Several other equities research analysts have also recently commented on the company. Royal Bank of Canada reissued a “hold” rating and issued a $176.00 target price on shares of Simon Property Group in a research note on Thursday, November 2nd. Argus lowered their target price on Simon Property Group from $200.00 to $195.00 and set a “buy” rating for the company in a research note on Tuesday, October 31st. Zacks Investment Research raised Simon Property Group from a “hold” rating to a “buy” rating and set a $182.00 price objective for the company in a research note on Wednesday, October 11th. Mizuho set a $183.00 price objective on Simon Property Group and gave the stock a “buy” rating in a research note on Sunday, October 29th. Finally, Stifel Nicolaus set a $170.00 price objective on Simon Property Group and gave the stock a “hold” rating in a research note on Sunday, August 27th. One equities research analyst has rated the stock with a sell rating, seven have assigned a hold rating and thirteen have issued a buy rating to the company’s stock. The company currently has an average rating of “Buy” and an average target price of $191.11.
Shares of Simon Property Group (SPG) traded up $0.59 during trading hours on Friday, hitting $171.74. The stock had a trading volume of 1,190,860 shares, compared to its average volume of 1,699,798. The company has a debt-to-equity ratio of 5.57, a current ratio of 0.93 and a quick ratio of 0.93. The firm has a market cap of $109,496.63, a price-to-earnings ratio of 30.29, a PEG ratio of 2.32 and a beta of 0.62. Simon Property Group has a one year low of $150.15 and a one year high of $188.10.
Large investors have recently added to or reduced their stakes in the business. Thrivent Financial For Lutherans grew its position in shares of Simon Property Group by 1.5% in the second quarter. Thrivent Financial For Lutherans now owns 173,231 shares of the real estate investment trust’s stock valued at $28,021,000 after purchasing an additional 2,530 shares during the last quarter. Principal Financial Group Inc. grew its position in Simon Property Group by 9.7% during the second quarter. Principal Financial Group Inc. now owns 6,112,741 shares of the real estate investment trust’s stock worth $988,797,000 after buying an additional 542,743 shares in the last quarter. Eaton Vance Management grew its position in Simon Property Group by 110.5% during the second quarter. Eaton Vance Management now owns 1,545,545 shares of the real estate investment trust’s stock worth $250,007,000 after buying an additional 811,457 shares in the last quarter. Koch Industries Inc. acquired a new stake in Simon Property Group during the second quarter worth approximately $456,000. Finally, Partners Value Investments LP acquired a new stake in Simon Property Group during the second quarter worth approximately $11,647,000. Hedge funds and other institutional investors own 47.38% of the company’s stock.
About Simon Property Group
Simon Property Group, Inc is a self-administered and self-managed real estate investment trust (REIT). The Company owns, develops and manages retail real estate properties, which consist primarily of malls, Premium Outlets and The Mills. Simon Property Group, L.P. (Operating Partnership), is the Company’s partnership subsidiary that owns all of its real estate properties and other assets.
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