Simon Property Group, Inc. (NYSE:SPG) Given Consensus Recommendation of “Buy” by Analysts

Simon Property Group, Inc. (NYSE:SPG – Get Rating) has earned an average recommendation of “Buy” from the nineteen analysts that are currently covering the company, Marketbeat Ratings reports. Eight research analysts have rated the stock with a hold recommendation and ten have issued a buy recommendation on the company. The average 1-year price target among brokers that have covered the stock in the last year is $162.25.

SPG has been the subject of a number of research analyst reports. Wells Fargo & Company decreased their target price on Simon Property Group from $152.00 to $140.00 and set an “equal weight” rating for the company in a research note on Thursday, April 7th. StockNews.com began coverage on Simon Property Group in a research report on Thursday, March 31st. They set a “hold” rating for the company. Deutsche Bank Aktiengesellschaft reduced their price objective on Simon Property Group from $190.00 to $173.00 and set a “buy” rating for the company in a research report on Thursday, March 31st. Morgan Stanley reduced their price objective on Simon Property Group from $180.00 to $160.00 and set an “overweight” rating for the company in a research report on Monday, March 7th. Finally, Mizuho reduced their price objective on Simon Property Group from $162.00 to $158.00 and set a “neutral” rating for the company in a research report on Tuesday, February 8th.

A number of large investors have recently modified their holdings of SPG. Cyrus J. Lawrence LLC acquired a new stake in Simon Property Group during the first quarter worth approximately $29,000. EverSource Wealth Advisors LLC acquired a new stake in shares of Simon Property Group in the 4th quarter valued at $30,000. Equitec Proprietary Markets LLC acquired a new stake in shares of Simon Property Group in the 4th quarter valued at $36,000. Tyler Stone Wealth Management acquired a new stake in shares of Simon Property Group in the 4th quarter valued at $38,000. Finally, SOA Wealth Advisors LLC. boosted its holdings in shares of Simon Property Group by 2,000.0% in the 1st quarter. SOA Wealth Advisors LLC. now owns 294 shares of the real estate investment trust’s stock valued at $38,000 after purchasing an additional 280 shares in the last quarter. 91.62% of the stock is currently owned by institutional investors and hedge funds.

Shares of Simon Property Group stock opened at $118.19 on Tuesday. The company has a quick ratio of 1.01, a current ratio of 1.01 and a debt-to-equity ratio of 6.64. Simon Property Group has a 12 month low of $113.41 and a 12 month high of $171.12. The business has a fifty day simple moving average of $128.86 and a 200 day simple moving average of $144.76. The stock has a market cap of $38.84 billion, a PE ratio of 17.28, a price-to-earnings-growth ratio of 2.34 and a beta of 1.46.

Simon Property Group (NYSE:SPG – Get Rating) last posted its earnings results on Monday, May 9th. The real estate investment trust reported $1.30 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $2.74 by ($1.44). Simon Property Group had a net margin of 43.97% and a return on equity of 58.02%. The business had revenue of $1.30 billion during the quarter, compared to analyst estimates of $1.24 billion. During the same period in the previous year, the firm posted $2.48 earnings per share. The firm’s revenue was up 4.5% on a year-over-year basis. Analysts expect that Simon Property Group will post 11.73 EPS for the current fiscal year.

The business also recently declared a quarterly dividend, which will be paid on Thursday, June 30th. Investors of record on Thursday, June 9th will be given a dividend of $1.70 per share. This represents a $6.80 dividend on an annualized basis and a yield of 5.75%. This is an increase from Simon Property Group’s previous quarterly dividend of $1.65. Simon Property Group’s dividend payout ratio is currently 96.49%.

Simon Property Group Company Profile (Get Rating)

Simon is a real estate investment trust engaged in the ownership of premier shopping, dining, entertainment and mixed-use destinations and an S&P 100 company (Simon Property Group, NYSE: SPG). Our properties across North America, Europe and Asia provide community gathering places for millions of people every day and generate billions in annual sales.

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