Simon Property Group (NYSE:SPG) Price Target Lowered to $165.00 at Stifel Nicolaus

Simon Property Group (NYSE:SPG – Get Rating) had its price objective lowered by stock analysts at Stifel Nicolaus from $180.00 to $165.00 in a research note issued to investors on Tuesday, The Fly reports. Stifel Nicolaus’ price target points to a potential upside of 39.61% from the company’s current price.

Other equities analysts have also issued reports about the stock. Mizuho reduced their target price on shares of Simon Property Group from $162.00 to $158.00 and set a “neutral” rating for the company in a research note on Tuesday, February 8th. StockNews.com initiated coverage on shares of Simon Property Group in a research note on Thursday, March 31st. They issued a “hold” rating for the company. Deutsche Bank Aktiengesellschaft reduced their target price on shares of Simon Property Group from $190.00 to $173.00 and set a “buy” rating for the company in a research note on Thursday, March 31st. Wells Fargo & Company reduced their target price on shares of Simon Property Group from $152.00 to $140.00 and set an “equal weight” rating for the company in a research note on Thursday, April 7th. Finally, Morgan Stanley reduced their target price on shares of Simon Property Group from $180.00 to $160.00 and set an “overweight” rating for the company in a research note on Monday, March 7th. Eight investment analysts have rated the stock with a hold rating and ten have assigned a buy rating to the stock. Based on data from MarketBeat.com, Simon Property Group presently has a consensus rating of “Buy” and a consensus price target of $164.31.

Shares of SPG stock opened at $118.19 on Tuesday. Simon Property Group has a 12-month low of $113.41 and a 12-month high of $171.12. The firm has a market capitalization of $38.84 billion, a price-to-earnings ratio of 17.28, a price-to-earnings-growth ratio of 2.34 and a beta of 1.46. The company has a quick ratio of 1.01, a current ratio of 1.01 and a debt-to-equity ratio of 6.64. The firm has a fifty day moving average of $128.86 and a 200-day moving average of $144.76.

Simon Property Group (NYSE:SPG – Get Rating) last announced its quarterly earnings results on Monday, May 9th. The real estate investment trust reported $1.30 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.74 by ($1.44). The firm had revenue of $1.30 billion during the quarter, compared to analyst estimates of $1.24 billion. Simon Property Group had a net margin of 43.97% and a return on equity of 58.02%. Simon Property Group’s quarterly revenue was up 4.5% on a year-over-year basis. During the same period last year, the firm earned $2.48 EPS. Research analysts expect that Simon Property Group will post 11.73 earnings per share for the current year.

Several hedge funds have recently modified their holdings of the company. Morgan Stanley lifted its position in Simon Property Group by 56.6% during the second quarter. Morgan Stanley now owns 4,402,869 shares of the real estate investment trust’s stock worth $574,486,000 after acquiring an additional 1,590,556 shares during the last quarter. Synovus Financial Corp boosted its stake in Simon Property Group by 21.9% in the 3rd quarter. Synovus Financial Corp now owns 3,044 shares of the real estate investment trust’s stock valued at $395,000 after purchasing an additional 547 shares during the period. Commerce Bank grew its holdings in Simon Property Group by 23.9% in the 3rd quarter. Commerce Bank now owns 16,642 shares of the real estate investment trust’s stock valued at $2,163,000 after buying an additional 3,208 shares in the last quarter. First Horizon Advisors Inc. increased its position in Simon Property Group by 172.6% during the 3rd quarter. First Horizon Advisors Inc. now owns 1,968 shares of the real estate investment trust’s stock worth $255,000 after buying an additional 1,246 shares during the period. Finally, Morse Asset Management Inc lifted its holdings in shares of Simon Property Group by 74.6% during the third quarter. Morse Asset Management Inc now owns 5,570 shares of the real estate investment trust’s stock worth $724,000 after buying an additional 2,380 shares in the last quarter. 91.62% of the stock is currently owned by institutional investors.

Simon Property Group Company Profile (Get Rating)

Simon is a real estate investment trust engaged 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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