Simon Property Group (NYSE:SPG) Research Coverage Started at LADENBURG THALM/SH SH

LADENBURG THALM/SH SH began coverage on shares of Simon Property Group (NYSE:SPG) in a research report sent to investors on Friday, Marketbeat Ratings reports. The brokerage issued a buy rating and a $225.00 price objective on the real estate investment trust’s stock.

Other equities research analysts also recently issued research reports about the company. Wall Street Zen downgraded Simon Property Group from a “buy” rating to a “hold” rating in a report on Saturday, March 29th. Stifel Nicolaus increased their price target on shares of Simon Property Group from $168.50 to $180.00 and gave the company a “buy” rating in a research note on Tuesday, May 13th. Scotiabank lifted their price objective on shares of Simon Property Group from $159.00 to $163.00 and gave the company a “sector perform” rating in a research report on Tuesday, June 17th. Piper Sandler cut their price objective on Simon Property Group from $205.00 to $200.00 and set an “overweight” rating for the company in a research report on Friday, May 23rd. Finally, JPMorgan Chase & Co. decreased their target price on Simon Property Group from $192.00 to $180.00 and set a “neutral” rating on the stock in a report on Thursday, May 22nd. Seven investment analysts have rated the stock with a hold rating and five have issued a buy rating to the company’s stock. According to data from MarketBeat, Simon Property Group presently has an average rating of “Hold” and a consensus price target of $182.73.

Simon Property Group Trading Down 0.0%

Shares of NYSE:SPG opened at $162.70 on Friday. The firm has a market cap of $53.11 billion, a price-to-earnings ratio of 25.91, a PEG ratio of 10.98 and a beta of 1.43. Simon Property Group has a 12 month low of $136.34 and a 12 month high of $190.14. The company’s fifty day simple moving average is $161.32 and its 200 day simple moving average is $165.67. The company has a quick ratio of 1.45, a current ratio of 1.45 and a debt-to-equity ratio of 8.29.

Simon Property Group (NYSE:SPG) last announced its earnings results on Monday, May 12th. The real estate investment trust reported $2.95 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.91 by $0.04. Simon Property Group had a return on equity of 67.32% and a net margin of 35.98%. The business had revenue of $1.47 billion for the quarter, compared to analyst estimates of $1.34 billion. During the same quarter last year, the firm earned $3.56 EPS. Simon Property Group’s revenue for the quarter was up 2.1% compared to the same quarter last year. As a group, research analysts forecast 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, June 30th. Stockholders of record on Monday, June 9th were paid a $2.10 dividend. The ex-dividend date of this dividend was Monday, June 9th. This represents a $8.40 annualized dividend and a dividend yield of 5.16%. Simon Property Group’s payout ratio is 133.76%.

Insider Transactions at Simon Property Group

In other Simon Property Group news, Director Reuben S. Leibowitz purchased 522 shares of the business’s stock in a transaction dated Monday, June 30th. The shares were bought at an average price of $159.29 per share, for a total transaction of $83,149.38. Following the completion of the acquisition, the director owned 58,195 shares in the company, valued at approximately $9,269,881.55. This trade represents a 0.91% increase in their ownership of the stock. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director Glyn Aeppel acquired 234 shares of the firm’s stock in a transaction that occurred on Monday, June 30th. The stock was bought at an average price of $159.29 per share, with a total value of $37,273.86. Following the completion of the acquisition, the director directly owned 19,057 shares of the company’s stock, valued at $3,035,589.53. This trade represents a 1.24% increase in their ownership of the stock. The disclosure for this purchase can be found here. Over the last 90 days, insiders have purchased 2,386 shares of company stock valued at $380,066. Company insiders own 8.60% of the company’s stock.

Hedge Funds Weigh In On Simon Property Group

A number of hedge funds have recently made changes to their positions in the stock. Brighton Jones LLC bought a new stake in Simon Property Group during the fourth quarter valued at $295,000. Proficio Capital Partners LLC increased its holdings in Simon Property Group by 31.9% in the fourth quarter. Proficio Capital Partners LLC now owns 3,149 shares of the real estate investment trust’s stock worth $542,000 after purchasing an additional 761 shares in the last quarter. Thrivent Financial for Lutherans boosted its holdings in shares of Simon Property Group by 7.4% during the 4th quarter. Thrivent Financial for Lutherans now owns 133,458 shares of the real estate investment trust’s stock worth $22,983,000 after buying an additional 9,192 shares in the last quarter. Advisors Asset Management Inc. grew its position in shares of Simon Property Group by 21.1% during the 4th quarter. Advisors Asset Management Inc. now owns 21,647 shares of the real estate investment trust’s stock worth $3,728,000 after buying an additional 3,773 shares during the period. Finally, Royal London Asset Management Ltd. boosted its stake in Simon Property Group by 0.3% during the fourth quarter. Royal London Asset Management Ltd. now owns 182,909 shares of the real estate investment trust’s stock worth $31,499,000 after acquiring an additional 539 shares in the last quarter. 93.01% of the stock is currently 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.