Simon Property Group’s (SPG) Buy Rating Reiterated at Argus

Argus reissued their buy rating on shares of Simon Property Group (NYSE:SPG) in a research note released on Friday morning,Benzinga reports. Argus currently has a $185.00 target price on the real estate investment trust’s stock.

Several other equities research analysts have also recently weighed in on SPG. Barclays initiated coverage on Simon Property Group in a research note on Wednesday, July 2nd. They issued an “equal weight” rating and a $170.00 price target on the stock. Piper Sandler decreased their price target on shares of Simon Property Group from $205.00 to $200.00 and set an “overweight” rating for the company in a research note on Friday, May 23rd. Mizuho lowered their price target on shares of Simon Property Group from $182.00 to $169.00 and set a “neutral” rating for the company in a research report on Tuesday, June 10th. Truist Financial upped their price objective on shares of Simon Property Group from $168.00 to $169.00 and gave the stock a “hold” rating in a report on Monday, August 25th. Finally, Stifel Nicolaus downgraded shares of Simon Property Group from a “buy” rating to a “hold” rating and set a $179.00 target price for the company. in a research note on Tuesday, September 2nd. Five analysts have rated the stock with a Buy rating and seven have issued a Hold rating to the company. According to data from MarketBeat.com, Simon Property Group presently has an average rating of “Hold” and an average target price of $184.92.

Simon Property Group Stock Up 0.3%

Shares of NYSE:SPG opened at $182.05 on Friday. The firm has a market capitalization of $59.44 billion, a PE ratio of 28.14, a price-to-earnings-growth ratio of 11.04 and a beta of 1.50. The firm has a fifty day moving average of $169.04 and a 200 day moving average of $164.23. The company has a debt-to-equity ratio of 9.05, a quick ratio of 1.23 and a current ratio of 1.23. Simon Property Group has a 52-week low of $136.34 and a 52-week high of $190.13.

Simon Property Group (NYSE:SPG) last issued its earnings results on Monday, August 4th. The real estate investment trust reported $3.05 earnings per share for the quarter, beating the consensus estimate of $3.04 by $0.01. Simon Property Group had a return on equity of 72.38% and a net margin of 36.78%.The company had revenue of $1.50 billion during the quarter, compared to analysts’ expectations of $1.40 billion. During the same period in the prior year, the business posted $2.90 EPS. Simon Property Group’s quarterly revenue was up 13.9% compared to the same quarter last year. Simon Property Group has set its FY 2025 guidance at 12.450-12.650 EPS. As a group, research analysts anticipate that Simon Property Group will post 12.54 EPS for the current fiscal year.

Simon Property Group Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, September 30th. Shareholders of record on Tuesday, September 9th will be issued a $2.15 dividend. This represents a $8.60 dividend on an annualized basis and a dividend yield of 4.7%. The ex-dividend date of this dividend is Tuesday, September 9th. This is a positive change from Simon Property Group’s previous quarterly dividend of $2.10. Simon Property Group’s dividend payout ratio is 129.83%.

Insider Transactions at Simon Property Group

In other Simon Property Group news, Director Reuben S. Leibowitz purchased 522 shares of the stock in a transaction dated Monday, June 30th. The shares were purchased at an average cost of $159.29 per share, with a total value of $83,149.38. Following the completion of the acquisition, the director directly owned 58,195 shares in the company, valued at $9,269,881.55. This trade represents a 0.91% increase in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director Gary M. Rodkin acquired 246 shares of the company’s stock in a transaction that occurred on Monday, June 30th. The shares were acquired at an average cost of $159.29 per share, for a total transaction of $39,185.34. Following the completion of the transaction, the director directly owned 19,010 shares of the company’s stock, valued at $3,028,102.90. The trade was a 1.31% increase in their ownership of the stock. The disclosure for this purchase can be found here. Over the last ninety days, insiders have bought 2,428 shares of company stock valued at $387,271. Insiders own 8.60% of the company’s stock.

Institutional Trading of Simon Property Group

Large investors have recently made changes to their positions in the stock. Brighton Jones LLC bought a new stake in Simon Property Group in the 4th quarter worth approximately $295,000. Baird Financial Group Inc. boosted its stake in shares of Simon Property Group by 0.3% in the 4th quarter. Baird Financial Group Inc. now owns 40,265 shares of the real estate investment trust’s stock worth $6,934,000 after buying an additional 140 shares during the last quarter. CoreCap Advisors LLC boosted its stake in shares of Simon Property Group by 29.2% in the 4th quarter. CoreCap Advisors LLC now owns 906 shares of the real estate investment trust’s stock worth $156,000 after buying an additional 205 shares during the last quarter. Colonial Trust Co SC grew its holdings in shares of Simon Property Group by 37.5% in the fourth quarter. Colonial Trust Co SC now owns 209 shares of the real estate investment trust’s stock worth $36,000 after acquiring an additional 57 shares during the period. Finally, EP Wealth Advisors LLC increased its position in Simon Property Group by 137.1% during the fourth quarter. EP Wealth Advisors LLC now owns 4,388 shares of the real estate investment trust’s stock valued at $756,000 after acquiring an additional 2,537 shares during the last quarter. 93.01% of the stock is currently owned by institutional investors.

About Simon Property Group

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.