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Simon Property Group (NYSE:SPG) had its target price cut by Citigroup from $192.00 to $185.00 in a research note released on Friday, June 28th, BenzingaRatingsTable reports. They currently have a buy rating on the real estate investment trust’s stock.
Other equities research analysts also recently issued research reports about the company. Morgan Stanley reissued an overweight rating on shares of in a research report on Thursday, June 20th. Barclays set a €45.00 ($52.33) price target on Zalando and gave the stock a buy rating in a research report on Tuesday, April 16th. JPMorgan Chase & Co. raised ROYAL MAIL PLC/ADR from an underweight rating to a neutral rating in a research report on Monday, June 3rd. Finally, Deutsche Bank set a $60.00 target price on Taubman Centers and gave the stock a hold rating in a research note on Tuesday, June 11th. One equities research analyst has rated the stock with a sell rating, seven have issued a hold rating and seven have assigned a buy rating to the company’s stock. The stock has an average rating of Hold and a consensus target price of $190.07.
NYSE SPG traded down $2.95 during trading on Friday, reaching $156.44. 1,790,666 shares of the company’s stock were exchanged, compared to its average volume of 1,392,871. The firm’s 50 day simple moving average is $162.55. The firm has a market capitalization of $49.25 billion, a PE ratio of 12.90, a P/E/G ratio of 2.90 and a beta of 0.52. The company has a quick ratio of 1.01, a current ratio of 1.01 and a debt-to-equity ratio of 6.34. Simon Property Group has a fifty-two week low of $156.24 and a fifty-two week high of $191.49.
Simon Property Group (NYSE:SPG) last posted its earnings results on Tuesday, April 30th. The real estate investment trust reported $3.04 EPS for the quarter, beating the consensus estimate of $3.02 by $0.02. Simon Property Group had a return on equity of 62.69% and a net margin of 41.45%. The company had revenue of $1.45 billion for the quarter, compared to the consensus estimate of $1.43 billion. During the same quarter in the prior year, the business earned $2.00 earnings per share. The firm’s revenue for the quarter was up 4.2% on a year-over-year basis. On average, analysts forecast that Simon Property Group will post 12.38 earnings per share for the current year.
In related news, insider John Rulli sold 9,160 shares of the firm’s stock in a transaction on Thursday, May 16th. The stock was sold at an average price of $176.17, for a total transaction of $1,613,717.20. Following the completion of the transaction, the insider now directly owns 29,646 shares of the company’s stock, valued at approximately $5,222,735.82. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. 8.75% of the stock is owned by company insiders.
A number of institutional investors have recently modified their holdings of the business. FMR LLC lifted its position in Simon Property Group by 19.8% in the 4th quarter. FMR LLC now owns 8,049,529 shares of the real estate investment trust’s stock valued at $1,352,241,000 after acquiring an additional 1,331,005 shares in the last quarter. Northern Trust Corp lifted its position in shares of Simon Property Group by 2.6% during the 1st quarter. Northern Trust Corp now owns 5,944,106 shares of the real estate investment trust’s stock worth $1,083,076,000 after buying an additional 149,589 shares in the last quarter. Geode Capital Management LLC lifted its position in shares of Simon Property Group by 12.1% during the 4th quarter. Geode Capital Management LLC now owns 4,712,315 shares of the real estate investment trust’s stock worth $790,441,000 after buying an additional 507,345 shares in the last quarter. Dimensional Fund Advisors LP lifted its position in shares of Simon Property Group by 0.5% during the 4th quarter. Dimensional Fund Advisors LP now owns 4,647,979 shares of the real estate investment trust’s stock worth $780,817,000 after buying an additional 22,193 shares in the last quarter. Finally, PGGM Investments lifted its position in shares of Simon Property Group by 0.4% during the 1st quarter. PGGM Investments now owns 3,762,811 shares of the real estate investment trust’s stock worth $685,622,000 after buying an additional 16,000 shares in the last quarter. Hedge funds and other institutional investors own 95.58% of the company’s stock.
About Simon Property Group
Simon is a global leader in the ownership of premier shopping, dining, entertainment and mixed-use destinations and an S&P 100 company (Simon Property Group, NYSE:SPG). Our properties across North America, Europe and Asia provide community gathering places for millions of people every day and generate billions in annual sales.
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