Simon Property Group Inc. [SPG] stock Upgrade by BofA Securities analyst, price target now $150

Simon Property Group Inc. [NYSE: SPG] traded at a low on 09/10/21, posting a -2.10 loss after which it closed the day’ session at $127.90. The company report on August 24, 2021 that Simon Centers Nationwide Receive Sustainability Recognition, Certification.

Simon is pleased to announce it has been recognized by the Institute of Real Estate Management (IREM®) and eight Simon centers have received the IREM® Certified Sustainable Property certification. This recognition is a mark of distinction for sustainable, efficient and environmentally friendly properties.

“Simon’s recognition by IREM® as having multiple Certified Sustainable Properties reflects our continued commitment to manage efficient and environmentally safe properties,” said Steve Fivel, General Counsel and Secretary, Simon. “Sustainability is not just about good design – it’s about asset performance that results from quality property management, and we are proud to embody that daily.”.

The results of the trading session contributed to over 1872109 shares changing hands. Over the past one week, the price volatility of Simon Property Group Inc. stands at 2.00% while the volatility over the past one month is 1.98%.

The market cap for SPG stock reached $42.93 billion, with 328.59 million shares outstanding and 327.01 million shares in the current float. Compared to the average trading volume of 2.10M shares, SPG reached a trading volume of 1872109 in the most recent trading day, which is why market watchdogs consider the stock to be active.

What do top market gurus say about Simon Property Group Inc. [SPG]?

Based on careful and fact-backed analyses by Wall Street experts, the current consensus on the target price for SPG shares is $148.88 per share. Analysis on target price and performance of stocks is usually carefully studied by market experts, and the current Wall Street consensus on SPG stock is a recommendation set at 2.20. This rating represents a strong Buy recommendation, on the scale from 1 to 5, where 5 would mean strong sell, 4 represents Sell, 3 is Hold, and 2 indicates Buy.

BofA Securities have made an estimate for Simon Property Group Inc. shares, keeping their opinion on the stock as Buy, with their previous recommendation back on August 04, 2021. While these analysts kept the previous recommendation, Stifel raised their target price from $125 to $132. The new note on the price target was released on July 20, 2021, representing the official price target for Simon Property Group Inc. stock. Previously, the target price had yet another raise to $135, while UBS analysts kept a Neutral rating on SPG stock. On April 26, 2021, analysts increased their price target for SPG shares from 112 to 128.

The Average True Range (ATR) for Simon Property Group Inc. is set at 2.88, with the Price to Sales ratio for SPG stock in the period of the last 12 months amounting to 9.16. The Price to Book ratio for the last quarter was 13.17, with the Price to Cash per share for the same quarter was set at 3.85. Price to Free Cash Flow for SPG in the course of the last twelve months was 31.50.

How has SPG stock performed recently?

Simon Property Group Inc. [SPG] fell into the red zone at the end of the last week, falling into a negative trend and dropping by -6.25. With this latest performance, SPG shares dropped by -4.20% in over the last four-week period, additionally plugging by 8.53% over the last 6 months – not to mention a rise of 93.23% in the past year of trading.

Overbought and oversold stocks can be easily traced with the Relative Strength Index (RSI), where an RSI result of over 70 would be overbought, and any rate below 30 would indicate oversold conditions. An RSI rate of 50 would represent a neutral market momentum. The current RSI for SPG stock in for the last two-week period is set at 40.54, with the RSI for the last a single of trading hit 32.35, and the three-weeks RSI is set at 44.86 for Simon Property Group Inc. [SPG]. The present Moving Average for the last 50 days of trading for this stock 129.60, while it was recorded at 132.20 for the last single week of trading, and 114.68 for the last 200 days.

Simon Property Group Inc. [SPG]: Deeper insight into the fundamentals

Operating Margin for any stock indicates how profitable investing would be, and Simon Property Group Inc. [SPG] shares currently have an operating margin of +41.53 and a Gross Margin at +51.08. Simon Property Group Inc.’s Net Margin is presently recorded at +24.68.

Return on Total Capital for SPG is now 6.37, given the latest momentum, and Return on Invested Capital for the company is 4.25. Return on Equity for this stock inclined to 39.98, with Return on Assets sitting at 3.37. When it comes to the capital structure of this company, Simon Property Group Inc. [SPG] has a Total Debt to Total Equity ratio set at 896.17. Additionally, SPG Total Debt to Total Capital is recorded at 89.96, with Total Debt to Total Assets ending up at 78.30. Long-Term Debt to Equity for the company is recorded at 831.26, with the Long-Term Debt to Total Capital now at 82.29.

Reflecting on the efficiency of the workforce at the company, Simon Property Group Inc. [SPG] managed to generate an average of $337,141 per employee. Receivables Turnover for the company is 10.83 with a Total Asset Turnover recorded at a value of 0.14.

Earnings analysis for Simon Property Group Inc. [SPG]

The progress of the company may be observed through the prism of EPS growth rate, while Wall Street analysts are focusing on predicting the 5-year EPS growth rate for SPG. When it comes to the mentioned value, analysts are expecting to see the 5-year EPS growth rate for Simon Property Group Inc. go to 8.60%.

Insider trade positions for Simon Property Group Inc. [SPG]

There are presently around $36,915 million, or 90.20% of SPG stock, in the hands of institutional investors. The top three institutional holders of SPG stocks are: VANGUARD GROUP INC with ownership of 47,181,855, which is approximately 1.216% of the company’s market cap and around 0.10% of the total institutional ownership; BLACKROCK INC., holding 34,188,322 shares of the stock with an approximate value of $4.37 billion in SPG stocks shares; and COHEN & STEERS, INC., currently with $2.66 billion in SPG stock with ownership of nearly 6.192% of the company’s market capitalization.

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Positions in Simon Property Group Inc. stocks held by institutional investors increased at the end of August and at the time of the August reporting period, where 477 institutional holders increased their position in Simon Property Group Inc. [NYSE:SPG] by around 18,736,624 shares. Additionally, 351 investors decreased positions by around 18,173,253 shares, while 140 investors held positions by with 251,717,480 shares. The mentioned changes placed institutional holdings at 288,627,357 shares, according to the latest SEC report filing. SPG stock had 141 new institutional investments in for a total of 3,868,117 shares, while 65 institutional investors sold positions of 1,086,573 shares during the same period.

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