Simon Property Group, Inc. (NYSE:SPG) Receives Consensus Recommendation of “Moderate Buy” from Brokerages

Simon Property Group, Inc. (NYSE:SPG) has received an average rating of “Moderate Buy” from the nine analysts that are currently covering the stock, MarketBeat reports. Four investment analysts have rated the stock with a hold rating and five have given a buy rating to the company. The average 1-year price target among analysts that have covered the stock in the last year is $181.39.

A number of analysts have commented on the stock. Piper Sandler upgraded shares of Simon Property Group from a “neutral” rating to an “overweight” rating and boosted their price target for the company from $175.00 to $205.00 in a research note on Wednesday, February 5th. Stifel Nicolaus raised shares of Simon Property Group from a “hold” rating to a “buy” rating and set a $168.50 target price for the company in a research report on Wednesday, April 9th. StockNews.com cut shares of Simon Property Group from a “buy” rating to a “hold” rating in a research report on Saturday, March 29th. Scotiabank set a $186.00 price objective on Simon Property Group in a report on Friday, February 28th. Finally, Jefferies Financial Group upgraded Simon Property Group from a “hold” rating to a “buy” rating and raised their target price for the company from $179.00 to $198.00 in a report on Thursday, January 2nd.

Institutional Trading of Simon Property Group

Hedge funds have recently bought and sold shares of the business. Norges Bank bought a new stake in shares of Simon Property Group during the 4th quarter worth $2,059,505,000. Northern Trust Corp increased its holdings in Simon Property Group by 45.9% during the fourth quarter. Northern Trust Corp now owns 5,462,856 shares of the real estate investment trust’s stock worth $940,758,000 after buying an additional 1,718,398 shares during the last quarter. Resolution Capital Ltd bought a new stake in Simon Property Group in the fourth quarter worth about $212,592,000. GAMMA Investing LLC boosted its stake in Simon Property Group by 16,346.0% in the first quarter. GAMMA Investing LLC now owns 876,736 shares of the real estate investment trust’s stock valued at $145,608,000 after acquiring an additional 871,405 shares during the last quarter. Finally, Capital World Investors bought a new position in shares of Simon Property Group during the 4th quarter valued at approximately $119,777,000. 93.01% of the stock is currently owned by institutional investors.

Simon Property Group Price Performance

SPG stock opened at $150.31 on Friday. 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 company’s 50-day moving average is $166.96 and its 200-day moving average is $172.57. The stock has a market capitalization of $49.04 billion, a PE ratio of 20.70, a price-to-earnings-growth ratio of 10.10 and a beta of 1.45. Simon Property Group has a 1 year low of $136.34 and a 1 year high of $190.14.

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

Simon Property Group Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Monday, March 31st. Investors of record on Monday, March 10th were given a dividend of $2.10 per share. This represents a $8.40 dividend on an annualized basis and a dividend yield of 5.59%. The ex-dividend date of this dividend was Monday, March 10th. Simon Property Group’s payout ratio is 115.70%.

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.