Simon Property Group (NYSE:SPG) Cut to Hold at StockNews.com

StockNews.com cut shares of Simon Property Group (NYSE:SPG) from a buy rating to a hold rating in a report issued on Saturday morning.

Several other brokerages have also recently weighed in on SPG. Jefferies Financial Group raised Simon Property Group from a “hold” rating to a “buy” rating and increased their price target for the company from $179.00 to $198.00 in a research note on Thursday, January 2nd. Deutsche Bank Aktiengesellschaft started coverage on shares of Simon Property Group in a report on Tuesday, December 17th. They set a “hold” rating and a $195.00 price target for the company. Scotiabank set a $186.00 price target on shares of Simon Property Group in a research report on Friday, February 28th. Mizuho increased their price objective on shares of 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, Piper Sandler upgraded shares of Simon Property Group from a “neutral” rating to an “overweight” rating and boosted their target price for the company from $175.00 to $205.00 in a report on Wednesday, February 5th. Six analysts have rated the stock with a hold rating and four have given a buy rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Hold” and an average price target of $180.33.

Simon Property Group Stock Up 1.2 %

Shares of NYSE SPG opened at $166.27 on Friday. Simon Property Group has a 1 year low of $139.25 and a 1 year high of $190.14. The company has a debt-to-equity ratio of 7.19, a current ratio of 1.28 and a quick ratio of 2.00. The firm has a market cap of $54.25 billion, a PE ratio of 22.90, a price-to-earnings-growth ratio of 10.10 and a beta of 1.78. The company has a 50 day simple moving average of $175.26 and a 200 day simple moving average of $174.54.

Simon Property Group (NYSE:SPG) last issued its quarterly earnings data on Tuesday, February 4th. The real estate investment trust reported $3.68 earnings per share for the quarter, topping the consensus estimate of $1.98 by $1.70. Simon Property Group had a net margin of 41.49% and a return on equity of 74.02%. On average, research analysts forecast that Simon Property Group will post 12.54 EPS for the current year.

Simon Property Group Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, March 31st. Investors of record on Monday, March 10th were paid a dividend of $2.10 per share. This represents a $8.40 annualized dividend and a yield of 5.05%. The ex-dividend date was Monday, March 10th. Simon Property Group’s dividend payout ratio is presently 115.70%.

Institutional Investors Weigh In On Simon Property Group

Several hedge funds and other institutional investors have recently bought and sold shares of the stock. Chancellor Financial Group WB LP acquired a new stake in shares of Simon Property Group in the 4th quarter valued at about $213,000. 111 Capital bought a new position in Simon Property Group in the fourth quarter worth approximately $284,000. Wealth Enhancement Advisory Services LLC grew its stake in Simon Property Group by 36.2% in the fourth quarter. Wealth Enhancement Advisory Services LLC now owns 23,660 shares of the real estate investment trust’s stock valued at $4,074,000 after acquiring an additional 6,293 shares during the period. Castle Rock Wealth Management LLC increased its holdings in shares of Simon Property Group by 2.6% during the fourth quarter. Castle Rock Wealth Management LLC now owns 8,880 shares of the real estate investment trust’s stock valued at $1,643,000 after acquiring an additional 223 shares in the last quarter. Finally, Phocas Financial Corp. acquired a new position in shares of Simon Property Group during the fourth quarter worth approximately $466,000. 93.01% of the stock is owned by institutional investors.

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.