Simon Property Group, Inc. (NYSE:SPG – Get Free Report) has earned an average recommendation of “Hold” from the ten ratings firms that are currently covering the stock, Marketbeat reports. Seven research analysts have rated the stock with a hold recommendation and three have assigned a buy recommendation to the company. The average twelve-month target price among analysts that have issued a report on the stock in the last year is $172.10.
SPG has been the subject of a number of recent analyst reports. Evercore ISI raised Simon Property Group from an “in-line” rating to an “outperform” rating and raised their price objective for the stock from $160.00 to $172.00 in a research report on Monday, September 16th. StockNews.com cut Simon Property Group from a “buy” rating to a “hold” rating in a research report on Thursday, October 10th. Deutsche Bank Aktiengesellschaft initiated coverage on Simon Property Group in a research report on Tuesday, December 17th. They issued a “hold” rating and a $195.00 price objective for the company. Mizuho raised their price objective on Simon Property Group from $158.00 to $182.00 and gave the stock a “neutral” rating in a research report on Wednesday, December 4th. Finally, Jefferies Financial Group raised Simon Property Group from a “hold” rating to a “buy” rating and lifted their price target for the stock from $179.00 to $198.00 in a research report on Thursday, January 2nd.
Check Out Our Latest Stock Report on SPG
Insider Buying and Selling at Simon Property Group
Hedge Funds Weigh In On Simon Property Group
Institutional investors have recently modified their holdings of the stock. Aptus Capital Advisors LLC increased its stake in shares of Simon Property Group by 3.9% in the 3rd quarter. Aptus Capital Advisors LLC now owns 1,615 shares of the real estate investment trust’s stock valued at $273,000 after purchasing an additional 61 shares in the last quarter. Inspire Advisors LLC increased its stake in shares of Simon Property Group by 1.6% in the 3rd quarter. Inspire Advisors LLC now owns 4,118 shares of the real estate investment trust’s stock valued at $696,000 after purchasing an additional 65 shares in the last quarter. Groupama Asset Managment increased its stake in shares of Simon Property Group by 0.9% in the 3rd quarter. Groupama Asset Managment now owns 7,721 shares of the real estate investment trust’s stock valued at $1,305,000 after purchasing an additional 67 shares in the last quarter. Bleakley Financial Group LLC increased its stake in shares of Simon Property Group by 1.1% in the 3rd quarter. Bleakley Financial Group LLC now owns 6,175 shares of the real estate investment trust’s stock valued at $1,044,000 after purchasing an additional 68 shares in the last quarter. Finally, Avestar Capital LLC increased its stake in shares of Simon Property Group by 2.8% in the 3rd quarter. Avestar Capital LLC now owns 2,648 shares of the real estate investment trust’s stock valued at $448,000 after purchasing an additional 71 shares in the last quarter. Hedge funds and other institutional investors own 93.01% of the company’s stock.
Simon Property Group Stock Up 1.2 %
Shares of NYSE SPG opened at $172.98 on Thursday. The company has a current ratio of 2.00, a quick ratio of 2.00 and a debt-to-equity ratio of 8.20. The stock has a market capitalization of $56.44 billion, a PE ratio of 23.03, a price-to-earnings-growth ratio of 10.50 and a beta of 1.75. The stock’s fifty day simple moving average is $177.40 and its two-hundred day simple moving average is $167.28. Simon Property Group has a 12-month low of $135.15 and a 12-month high of $186.00.
Simon Property Group (NYSE:SPG – Get Free Report) last announced its 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). The company had revenue of $1.48 billion for the quarter, compared to the consensus estimate of $1.32 billion. Simon Property Group had a net margin of 43.36% and a return on equity of 76.21%. The firm’s revenue was up 4.9% compared to the same quarter last year. During the same period last year, the business posted $3.20 EPS. As a group, analysts expect that Simon Property Group will post 12.76 EPS for the current fiscal year.
Simon Property Group Increases Dividend
The business also recently disclosed a quarterly dividend, which was paid on Monday, December 30th. Shareholders of record on Monday, December 9th were paid a dividend of $2.10 per share. The ex-dividend date of this dividend was Monday, December 9th. This represents a $8.40 dividend on an annualized basis and a dividend yield of 4.86%. This is a positive change from Simon Property Group’s previous quarterly dividend of $2.05. Simon Property Group’s dividend payout ratio (DPR) is presently 111.85%.
About Simon Property Group
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.
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