Wells Fargo & Co Cuts Simon Property Group (NYSE:SPG) Price Target to $168.00

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Simon Property Group (NYSE:SPG) had its price target decreased by Wells Fargo & Co from $182.00 to $168.00 in a research report released on Tuesday morning, The Fly reports. Wells Fargo & Co currently has an overweight rating on the real estate investment trust’s stock. The analysts noted that the move was a valuation call.

Other equities analysts also recently issued research reports about the company. ValuEngine upgraded Simon Property Group from a sell rating to a hold rating in a research report on Friday, October 25th. Morgan Stanley cut their target price on Simon Property Group from $157.00 to $150.00 and set an equal weight rating for the company in a research report on Tuesday, December 17th. Raymond James cut their target price on Simon Property Group from $175.00 to $160.00 and set an outperform rating for the company in a research report on Friday, February 7th. JPMorgan Chase & Co. downgraded Simon Property Group from an overweight rating to a neutral rating and cut their target price for the stock from $170.00 to $162.00 in a research report on Wednesday, December 18th. Finally, BTIG Research cut their target price on Simon Property Group to $218.00 and set a buy rating for the company in a research report on Monday, October 28th. One analyst has rated the stock with a sell rating, nine have assigned a hold rating and four have assigned a buy rating to the company. The stock currently has a consensus rating of Hold and a consensus target price of $169.54.

Shares of SPG stock opened at $138.92 on Tuesday. The company has a current ratio of 1.08, a quick ratio of 3.34 and a debt-to-equity ratio of 8.42. The company has a market capitalization of $44.43 billion, a P/E ratio of 11.52, a P/E/G ratio of 2.47 and a beta of 0.59. Simon Property Group has a 12 month low of $130.01 and a 12 month high of $186.40. The stock has a 50 day moving average of $143.63 and a two-hundred day moving average of $149.46.

Simon Property Group (NYSE:SPG) last posted its earnings results on Tuesday, February 4th. The real estate investment trust reported $1.66 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $2.95 by ($1.29). The company had revenue of $1.49 billion for the quarter, compared to the consensus estimate of $1.45 billion. Simon Property Group had a return on equity of 65.24% and a net margin of 36.52%. Simon Property Group’s quarterly revenue was up 1.8% compared to the same quarter last year. During the same quarter last year, the business earned $3.23 EPS. Sell-side analysts predict that Simon Property Group will post 12.4 earnings per share for the current fiscal year.

The firm also recently declared a quarterly dividend, which will be paid on Friday, February 28th. Investors of record on Friday, February 14th will be issued a dividend of $2.10 per share. The ex-dividend date is Thursday, February 13th. This represents a $8.40 dividend on an annualized basis and a yield of 6.05%. Simon Property Group’s dividend payout ratio is 69.77%.

Hedge funds have recently added to or reduced their stakes in the stock. Carmichael Hill & Associates Inc. acquired a new stake in Simon Property Group during the 4th quarter valued at $25,000. HBC Financial Services PLLC acquired a new stake in Simon Property Group during the 4th quarter valued at $30,000. BerganKDV Wealth Management LLC increased its holdings in Simon Property Group by 42.5% during the 4th quarter. BerganKDV Wealth Management LLC now owns 248 shares of the real estate investment trust’s stock valued at $37,000 after purchasing an additional 74 shares in the last quarter. Optimum Investment Advisors acquired a new stake in Simon Property Group during the 3rd quarter valued at $47,000. Finally, Capital Investment Advisory Services LLC increased its holdings in Simon Property Group by 250.0% during the 3rd quarter. Capital Investment Advisory Services LLC now owns 350 shares of the real estate investment trust’s stock valued at $54,000 after purchasing an additional 250 shares in the last quarter. 90.80% of the stock is owned by hedge funds and other institutional investors.

Simon Property Group Company Profile

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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