Simon Property Group, Inc. (NYSE:SPG) Given Average Recommendation of “Hold” by Brokerages

Simon Property Group, Inc. (NYSE:SPG) has been assigned a consensus rating of “Hold” from the nine analysts that are covering the stock, MarketBeat reports. Six investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. The average 12 month target price among brokers that have covered the stock in the last year is $161.28.

A number of research analysts have recently commented on the stock. Stifel Nicolaus lifted their price objective on shares of Simon Property Group from $152.00 to $157.50 and gave the company a “buy” rating in a research report on Tuesday, August 6th. Mizuho boosted their price target on Simon Property Group from $155.00 to $158.00 and gave the stock a “neutral” rating in a research report on Monday, August 19th. Evercore ISI upped their price objective on Simon Property Group from $157.00 to $160.00 and gave the company an “in-line” rating in a research note on Wednesday, August 28th. Scotiabank lifted their target price on 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, Piper Sandler restated a “neutral” rating and issued a $175.00 price target (down previously from $190.00) on shares of Simon Property Group in a research note on Tuesday.

Insider Activity

In other news, Director Reuben S. Leibowitz acquired 486 shares of the stock in a transaction dated Friday, June 28th. The stock was bought at an average price of $150.17 per share, with a total value of $72,982.62. Following the completion of the purchase, the director now directly owns 55,001 shares of the company’s stock, valued at approximately $8,259,500.17. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Insiders own 8.50% of the company’s stock.

Institutional Trading of Simon Property Group

Institutional investors and hedge funds have recently bought and sold shares of the stock. Diligent Investors LLC increased its position in Simon Property Group by 0.5% during the 2nd quarter. Diligent Investors LLC now owns 13,740 shares of the real estate investment trust’s stock valued at $2,086,000 after purchasing an additional 68 shares during the period. Augustine Asset Management Inc. lifted its holdings in Simon Property Group by 3.8% in the second quarter. Augustine Asset Management Inc. now owns 1,859 shares of the real estate investment trust’s stock valued at $282,000 after buying an additional 68 shares during the period. TIAA Trust National Association boosted its position in Simon Property Group by 3.7% during the first quarter. TIAA Trust National Association now owns 1,913 shares of the real estate investment trust’s stock valued at $299,000 after acquiring an additional 69 shares during the last quarter. Inspire Advisors LLC grew its holdings in Simon Property Group by 1.7% during the 1st quarter. Inspire Advisors LLC now owns 4,126 shares of the real estate investment trust’s stock worth $646,000 after acquiring an additional 70 shares during the period. Finally, Mark Asset Management LP raised its position in shares of Simon Property Group by 0.9% in the 2nd quarter. Mark Asset Management LP now owns 8,095 shares of the real estate investment trust’s stock worth $1,229,000 after acquiring an additional 72 shares in the last quarter. 93.01% of the stock is currently owned by institutional investors and hedge funds.

Simon Property Group Price Performance

SPG stock opened at $164.18 on Friday. The stock has a market cap of $53.51 billion, a PE ratio of 20.91, a price-to-earnings-growth ratio of 9.17 and a beta of 1.75. The stock has a 50-day moving average price of $155.62 and a two-hundred day moving average price of $151.03. Simon Property Group has a 1 year low of $102.11 and a 1 year high of $169.18. 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 (NYSE:SPG) 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 analysts’ consensus estimates of $2.93 by ($1.42). Simon Property Group had a return on equity of 78.14% and a net margin of 45.90%. The firm had revenue of $1.32 billion for the quarter, compared to analyst estimates of $1.30 billion. During the same period last year, the company earned $2.88 EPS. The company’s revenue was up 4.8% compared to the same quarter last year. Equities analysts forecast that Simon Property Group will post 12.85 EPS for the current fiscal year.

Simon Property Group Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, September 30th. Shareholders of record on Monday, September 9th will be given a $2.05 dividend. The ex-dividend date of this dividend is Monday, September 9th. This is an increase from Simon Property Group’s previous quarterly dividend of $2.00. This represents a $8.20 annualized dividend and a yield of 4.99%. Simon Property Group’s dividend payout ratio (DPR) is currently 104.46%.

Simon Property Group Company Profile

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.