Simon Property Group (NYSE:SPG) Rating Increased to Buy at Jefferies Financial Group

Simon Property Group (NYSE:SPG) was upgraded by analysts at Jefferies Financial Group from a “hold” rating to a “buy” rating in a research report issued on Thursday, Marketbeat.com reports. The firm presently has a $198.00 target price on the real estate investment trust’s stock, up from their previous target price of $179.00. Jefferies Financial Group’s price target would suggest a potential upside of 14.98% from the company’s previous close.

SPG has been the topic of several other reports. Deutsche Bank Aktiengesellschaft assumed coverage on shares of Simon Property Group in a research report on Tuesday, December 17th. They issued a “hold” rating and a $195.00 price objective on the stock. Mizuho boosted their price target on Simon Property Group from $158.00 to $182.00 and gave the stock a “neutral” rating in a report on Wednesday, December 4th. Evercore ISI raised Simon Property Group from an “in-line” rating to an “outperform” rating and increased their price objective for the company from $160.00 to $172.00 in a research note on Monday, September 16th. Stifel Nicolaus reissued a “hold” rating and issued a $159.00 target price (up previously from $157.50) on shares of Simon Property Group in a research note on Thursday, September 12th. Finally, StockNews.com cut shares of Simon Property Group from a “buy” rating to a “hold” rating in a research note on Thursday, October 10th. Eight equities research analysts have rated the stock with a hold rating and three have given a buy rating to the stock. Based on data from MarketBeat.com, the company has an average rating of “Hold” and a consensus target price of $172.10.

Simon Property Group Trading Up 0.8 %

NYSE:SPG opened at $172.21 on Thursday. Simon Property Group has a 1 year low of $135.15 and a 1 year high of $186.00. The company has a debt-to-equity ratio of 8.20, a quick ratio of 2.00 and a current ratio of 2.00. The stock has a fifty day moving average price of $176.96 and a two-hundred day moving average price of $165.68. The stock has a market capitalization of $56.19 billion, a price-to-earnings ratio of 22.93, a PEG ratio of 10.50 and a beta of 1.75.

Simon Property Group (NYSE:SPG) last announced its quarterly earnings data on Friday, November 1st. The real estate investment trust reported $1.46 EPS for the quarter, missing the consensus estimate of $3.00 by ($1.54). Simon Property Group had a net margin of 43.36% and a return on equity of 76.21%. The company had revenue of $1.48 billion during the quarter, compared to analyst estimates of $1.32 billion. During the same quarter last year, the business earned $3.20 EPS. The firm’s revenue for the quarter was up 4.9% on a year-over-year basis. As a group, sell-side analysts anticipate that Simon Property Group will post 12.76 earnings per share for the current fiscal year.

Institutional Trading of Simon Property Group

Institutional investors have recently made changes to their positions in the stock. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its position in Simon Property Group by 617.5% during the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 3,191,296 shares of the real estate investment trust’s stock worth $539,393,000 after purchasing an additional 2,746,503 shares in the last quarter. Los Angeles Capital Management LLC grew its stake in Simon Property Group by 373.6% during the 3rd quarter. Los Angeles Capital Management LLC now owns 1,259,648 shares of the real estate investment trust’s stock valued at $212,906,000 after acquiring an additional 993,694 shares in the last quarter. International Assets Investment Management LLC increased its holdings in shares of Simon Property Group by 18,764.1% in the 3rd quarter. International Assets Investment Management LLC now owns 892,085 shares of the real estate investment trust’s stock valued at $150,780,000 after purchasing an additional 887,356 shares during the period. Mizuho Securities USA LLC lifted its position in shares of Simon Property Group by 2,520.3% in the third quarter. Mizuho Securities USA LLC now owns 658,191 shares of the real estate investment trust’s stock worth $111,247,000 after purchasing an additional 633,072 shares in the last quarter. Finally, Caisse DE Depot ET Placement DU Quebec grew its position in Simon Property Group by 295.3% during the third quarter. Caisse DE Depot ET Placement DU Quebec now owns 655,300 shares of the real estate investment trust’s stock valued at $110,759,000 after purchasing an additional 489,519 shares in the last quarter. 93.01% of the stock is owned by institutional investors and hedge funds.

About Simon Property Group

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.