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

Shares of Simon Property Group, Inc. (NYSE:SPG) have earned an average recommendation of “Hold” from the nine brokerages that are covering the stock, Marketbeat reports. Six research analysts have rated the stock with a hold rating and three have issued a buy rating on the company. The average 1-year target price among analysts that have issued a report on the stock in the last year is $162.78.

SPG has been the subject of several research analyst reports. Stifel Nicolaus reissued a “hold” rating and issued a $159.00 price objective (up from $157.50) on shares of Simon Property Group in a report on Thursday, September 12th. Mizuho lifted their price objective on shares of Simon Property Group from $155.00 to $158.00 and gave the company a “neutral” rating in a research note on Monday, August 19th. StockNews.com downgraded shares of Simon Property Group from a “buy” rating to a “hold” rating in a research note on Thursday, October 10th. Truist Financial boosted their price target on Simon Property Group from $147.00 to $158.00 and gave the company a “hold” rating in a research report on Wednesday, August 28th. Finally, Piper Sandler reaffirmed a “neutral” rating and set a $175.00 price objective (down from $190.00) on shares of Simon Property Group in a research note on Tuesday, September 3rd.

Insider Transactions at Simon Property Group

In other news, Director Allan B. Hubbard purchased 370 shares of the business’s stock in a transaction dated Monday, September 30th. The stock was acquired at an average price of $167.30 per share, with a total value of $61,901.00. Following the purchase, the director now directly owns 34,301 shares of the company’s stock, valued at $5,738,557.30. This represents a 0.00 % increase in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Corporate insiders own 8.50% of the company’s stock.

Hedge Funds Weigh In On Simon Property Group

Hedge funds have recently added to or reduced their stakes in the business. Clearstead Trust LLC acquired a new position in shares of Simon Property Group in the first quarter worth $25,000. Opal Wealth Advisors LLC purchased a new position in shares of Simon Property Group during the second quarter valued at approximately $25,000. EntryPoint Capital LLC acquired a new stake in Simon Property Group during the first quarter worth approximately $26,000. Wetzel Investment Advisors Inc. purchased a new stake in Simon Property Group in the 2nd quarter worth approximately $27,000. Finally, RFP Financial Group LLC raised its holdings in Simon Property Group by 727.3% in the 2nd quarter. RFP Financial Group LLC now owns 182 shares of the real estate investment trust’s stock valued at $28,000 after acquiring an additional 160 shares during the last quarter. 93.01% of the stock is currently owned by hedge funds and other institutional investors.

Simon Property Group Price Performance

Simon Property Group stock opened at $167.70 on Friday. The stock has a market cap of $54.68 billion, a P/E ratio of 21.31, a price-to-earnings-growth ratio of 9.61 and a beta of 1.74. The company has a fifty day simple moving average of $168.55 and a 200-day simple moving average of $156.27. The company has a current ratio of 2.04, a quick ratio of 2.04 and a debt-to-equity ratio of 7.53. Simon Property Group has a 12-month low of $113.40 and a 12-month high of $177.08.

Simon Property Group (NYSE:SPG) last released its quarterly earnings data on Monday, August 5th. The real estate investment trust reported $1.51 EPS for the quarter, missing analysts’ consensus estimates of $2.93 by ($1.42). The business had revenue of $1.32 billion during the quarter, compared to analysts’ expectations of $1.30 billion. Simon Property Group had a net margin of 45.90% and a return on equity of 78.14%. The company’s revenue was up 4.8% compared to the same quarter last year. During the same quarter in the previous year, the company posted $2.88 EPS. Equities analysts expect that Simon Property Group will post 12.85 EPS for the current fiscal 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 paid a $2.10 dividend. This is a boost from Simon Property Group’s previous quarterly dividend of $2.05. This represents a $8.40 annualized dividend and a dividend yield of 5.01%. Simon Property Group’s dividend payout ratio (DPR) is 104.19%.

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.