Simon Property Group (NYSE:SPG) Coverage Initiated by Analysts at Deutsche Bank Aktiengesellschaft

Equities researchers at Deutsche Bank Aktiengesellschaft started coverage on shares of Simon Property Group (NYSE:SPG) in a research note issued to investors on Tuesday, Marketbeat.com reports. The brokerage set a “hold” rating and a $195.00 price target on the real estate investment trust’s stock. Deutsche Bank Aktiengesellschaft’s target price points to a potential upside of 13.70% from the company’s previous close.

Other equities analysts have also issued research reports about the stock. Mizuho lifted their price target on shares of Simon Property Group from $158.00 to $182.00 and gave the company a “neutral” rating in a research report on Wednesday, December 4th. Stifel Nicolaus reiterated a “hold” rating and issued a $159.00 target price (up from $157.50) on shares of Simon Property Group in a research note on Thursday, September 12th. Scotiabank boosted their target price on shares of Simon Property Group from $152.00 to $169.00 and gave the stock a “sector perform” rating in a research report on Monday, August 26th. Evercore ISI raised Simon Property Group from an “in-line” rating to an “outperform” rating and raised their price target for the company from $160.00 to $172.00 in a research report on Monday, September 16th. Finally, Truist Financial boosted their price objective on Simon Property Group from $147.00 to $158.00 and gave the stock a “hold” rating in a research report on Wednesday, August 28th. Eight equities research analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. According to MarketBeat.com, Simon Property Group has an average rating of “Hold” and an average target price of $168.40.

Simon Property Group Trading Down 4.7 %

Shares of NYSE:SPG opened at $171.51 on Tuesday. The company has a current ratio of 2.00, a quick ratio of 2.00 and a debt-to-equity ratio of 8.20. The stock has a market capitalization of $55.96 billion, a PE ratio of 22.84, a P/E/G ratio of 10.50 and a beta of 1.75. Simon Property Group has a 1 year low of $135.15 and a 1 year high of $186.00. The firm has a fifty day moving average price of $177.24 and a 200 day moving average price of $164.28.

Simon Property Group (NYSE:SPG) last released its quarterly earnings results on Friday, November 1st. The real estate investment trust reported $1.46 earnings per share (EPS) for the quarter, missing the consensus estimate of $3.00 by ($1.54). The company had revenue of $1.48 billion for the quarter, compared to the consensus estimate of $1.32 billion. Simon Property Group had a return on equity of 76.21% and a net margin of 43.36%. The business’s revenue was up 4.9% compared to the same quarter last year. During the same quarter last year, the company posted $3.20 EPS. Analysts expect that Simon Property Group will post 12.76 EPS for the current fiscal year.

Insiders Place Their Bets

In related news, Director Allan B. Hubbard acquired 370 shares of the firm’s stock in a transaction on Monday, September 30th. The shares were bought at an average cost of $167.30 per share, with a total value of $61,901.00. Following the completion of the acquisition, the director now owns 34,301 shares of the company’s stock, valued at $5,738,557.30. This trade represents a 1.09 % increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which is available through this hyperlink. Corporate insiders own 8.50% of the company’s stock.

Institutional Trading of Simon Property Group

Institutional investors have recently bought and sold shares of the stock. Wetzel Investment Advisors Inc. bought a new stake in shares of Simon Property Group in the 2nd quarter worth about $27,000. RFP Financial Group LLC increased its holdings in Simon Property Group by 727.3% during the 2nd quarter. RFP Financial Group LLC now owns 182 shares of the real estate investment trust’s stock valued at $28,000 after purchasing an additional 160 shares in the last quarter. Capital Performance Advisors LLP bought a new position in Simon Property Group in the 3rd quarter valued at $30,000. Trivant Custom Portfolio Group LLC bought a new stake in shares of Simon Property Group during the third quarter worth $42,000. Finally, Eastern Bank acquired a new stake in shares of Simon Property Group in the third quarter valued at $42,000. Institutional investors and hedge funds own 93.01% of the company’s stock.

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.