Simon Property Group, Inc. (NYSE:SPG) Receives Average Rating of “Hold” from Analysts

Simon Property Group, Inc. (NYSE:SPG) has earned an average recommendation of “Hold” from the nine ratings firms that are presently covering the stock, MarketBeat.com reports. Six equities research analysts have rated the stock with a hold recommendation and three have given a buy recommendation to the company. The average twelve-month price target among brokers that have updated their coverage on the stock in the last year is $162.78.

A number of research firms recently weighed in on SPG. Mizuho lifted their price target on Simon Property Group from $155.00 to $158.00 and gave the company a “neutral” rating in a research note on Monday, August 19th. Stifel Nicolaus reaffirmed a “hold” rating and set a $159.00 price target (up from $157.50) on shares of Simon Property Group in a research note on Thursday, September 12th. StockNews.com cut shares of Simon Property Group from a “buy” rating to a “hold” rating in a research note on Thursday, October 10th. Truist Financial upped their target price on shares of Simon Property Group from $147.00 to $158.00 and gave the stock a “hold” rating in a research report on Wednesday, August 28th. Finally, Piper Sandler reiterated a “neutral” rating and set a $175.00 price target (down from $190.00) on shares of Simon Property Group in a research report on Tuesday, September 3rd.

Insider Activity at Simon Property Group

In related news, Director Allan B. Hubbard purchased 370 shares of the business’s stock in a transaction dated Monday, September 30th. The stock was 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 directly owns 34,301 shares in the company, valued at $5,738,557.30. The trade was a 1.09 % increase in their position. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. 8.60% of the stock is owned by corporate insiders.

Institutional Trading of Simon Property Group

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. EntryPoint Capital LLC acquired a new stake in shares of Simon Property Group during the 1st quarter worth about $26,000. Opal Wealth Advisors LLC acquired a new stake in Simon Property Group during the second quarter worth approximately $25,000. Wetzel Investment Advisors Inc. purchased a new stake in Simon Property Group in the 2nd quarter worth approximately $27,000. Capital Performance Advisors LLP acquired a new position in Simon Property Group in the 3rd quarter valued at $30,000. Finally, Pathway Financial Advisers LLC acquired a new position in Simon Property Group in the 1st quarter valued at $29,000. Hedge funds and other institutional investors own 93.01% of the company’s stock.

Simon Property Group Stock Down 0.4 %

Shares of Simon Property Group stock opened at $181.14 on Wednesday. Simon Property Group has a one year low of $119.92 and a one year high of $183.96. The company has a market cap of $59.10 billion, a P/E ratio of 24.12, a PEG ratio of 10.57 and a beta of 1.74. 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 firm has a fifty day moving average of $172.55 and a two-hundred day moving average of $160.25.

Simon Property Group (NYSE:SPG) last posted 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). Simon Property Group had a return on equity of 76.21% and a net margin of 43.36%. The firm had revenue of $1.48 billion for the quarter, compared to analysts’ expectations of $1.32 billion. During the same period in the prior year, the company earned $3.20 earnings per share. The company’s revenue for the quarter was up 4.9% on a year-over-year basis. On average, analysts forecast that Simon Property Group will post 12.79 earnings per share for the current year.

Simon Property Group Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, December 30th. Investors of record on Monday, December 9th will be given a dividend of $2.10 per share. This is an increase from Simon Property Group’s previous quarterly dividend of $2.05. This represents a $8.40 annualized dividend and a dividend yield of 4.64%. The ex-dividend date is Monday, December 9th. Simon Property Group’s payout ratio is currently 109.19%.

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.