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

Shares of Simon Property Group, Inc. (NYSE:SPGGet Free Report) have earned an average rating of “Hold” from the nine brokerages that are covering the firm, Marketbeat Ratings reports. Six equities research analysts have rated the stock with a hold rating and three have issued a buy rating on the company. The average 12 month price target among brokers that have updated their coverage on the stock in the last year is $162.78.

Several equities research analysts recently commented on SPG shares. StockNews.com cut Simon Property Group from a “buy” rating to a “hold” rating in a research report on Thursday, October 10th. Evercore ISI upgraded shares of Simon Property Group from an “in-line” rating to an “outperform” rating and upped their target price for the stock from $160.00 to $172.00 in a research report on Monday, September 16th. Truist Financial boosted their target price on shares of Simon Property Group from $147.00 to $158.00 and gave the stock a “hold” rating in a report on Wednesday, August 28th. Scotiabank raised their price objective on shares of Simon Property Group from $152.00 to $169.00 and gave the stock a “sector perform” rating in a research note on Monday, August 26th. Finally, Stifel Nicolaus restated a “hold” rating and issued a $159.00 price target (up from $157.50) on shares of Simon Property Group in a report on Thursday, September 12th.

Read Our Latest Analysis on SPG

Simon Property Group Trading Down 0.8 %

NYSE:SPG opened at $167.70 on Friday. The company has a debt-to-equity ratio of 7.53, a current ratio of 2.04 and a quick ratio of 2.04. The firm has a 50-day moving average of $168.55 and a 200-day moving average of $156.27. Simon Property Group has a one year low of $113.40 and a one year high of $177.08. The company has a market cap of $54.68 billion, a PE ratio of 21.31, a PEG ratio of 9.61 and a beta of 1.74.

Simon Property Group (NYSE:SPGGet Free Report) last released its quarterly earnings results on Monday, August 5th. The real estate investment trust reported $1.51 earnings per share for the quarter, missing the consensus estimate of $2.93 by ($1.42). The firm had revenue of $1.32 billion during the quarter, compared to the consensus estimate of $1.30 billion. Simon Property Group had a return on equity of 78.14% and a net margin of 45.90%. The company’s revenue for the quarter was up 4.8% compared to the same quarter last year. During the same period in the previous year, the company posted $2.88 EPS. As a group, equities research analysts expect that Simon Property Group will post 12.85 EPS for the current fiscal year.

Simon Property Group Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, December 30th. Shareholders of record on Monday, December 9th will be paid a dividend of $2.10 per share. This represents a $8.40 annualized dividend and a yield of 5.01%. This is a boost from Simon Property Group’s previous quarterly dividend of $2.05. Simon Property Group’s payout ratio is 104.19%.

Insider Activity

In other Simon Property Group news, Director Allan B. Hubbard purchased 370 shares of the stock in a transaction that occurred on Monday, September 30th. The shares were purchased at an average cost of $167.30 per share, for a total transaction of $61,901.00. Following the completion of the transaction, the director now owns 34,301 shares of the company’s stock, valued at $5,738,557.30. The trade was a 0.00 % increase in their position. The acquisition was disclosed in a document filed with the SEC, which is available through the SEC website. Company insiders own 8.50% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently modified their holdings of the company. Wealth Enhancement Advisory Services LLC boosted its holdings in Simon Property Group by 11.9% in the 2nd quarter. Wealth Enhancement Advisory Services LLC now owns 34,054 shares of the real estate investment trust’s stock valued at $5,169,000 after purchasing an additional 3,626 shares during the last quarter. BI Asset Management Fondsmaeglerselskab A S increased its position in shares of Simon Property Group by 333.5% during the first quarter. BI Asset Management Fondsmaeglerselskab A S now owns 24,531 shares of the real estate investment trust’s stock valued at $3,839,000 after acquiring an additional 18,872 shares during the last quarter. M&G Plc acquired a new stake in Simon Property Group in the 1st quarter valued at approximately $4,654,000. TTP Investments Inc. raised its holdings in shares of Simon Property Group by 42.0% in the 3rd quarter. TTP Investments Inc. now owns 34,290 shares of the real estate investment trust’s stock valued at $5,796,000 after buying an additional 10,147 shares during the period. Finally, Diversified Trust Co lifted its position in shares of Simon Property Group by 130.9% during the first quarter. Diversified Trust Co now owns 10,852 shares of the real estate investment trust’s stock worth $1,698,000 after purchasing an additional 6,153 shares in the last quarter. Institutional investors and hedge funds own 93.01% of the company’s stock.

Simon Property Group Company Profile

(Get Free Report

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.

Further Reading

Analyst Recommendations for Simon Property Group (NYSE:SPG)

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