Simon Property Group (NYSE:SPG) Receives “Buy (B)” Rating from Weiss Ratings

Weiss Ratings reiterated their buy (b) rating on shares of Simon Property Group (NYSE:SPG) in a research report sent to investors on Tuesday,Weiss Ratings reports.

Several other brokerages also recently weighed in on SPG. Argus restated a “buy” rating and issued a $185.00 target price on shares of Simon Property Group in a research note on Friday, September 5th. Truist Financial raised their price target 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. Piper Sandler raised their price target on shares of Simon Property Group from $200.00 to $210.00 and gave the stock an “overweight” rating in a report on Thursday, September 18th. Stifel Nicolaus cut shares of Simon Property Group from a “buy” rating to a “hold” rating and set a $179.00 price target for the company. in a report on Tuesday, September 2nd. Finally, Scotiabank raised their price target on shares of Simon Property Group from $163.00 to $173.00 and gave the stock a “sector perform” rating in a report on Thursday, August 28th. Five investment analysts have rated the stock with a Buy rating and nine have issued a Hold rating to the stock. Based on data from MarketBeat.com, Simon Property Group has a consensus rating of “Hold” and a consensus price target of $187.23.

Simon Property Group Price Performance

Shares of SPG opened at $175.77 on Tuesday. The company has a market cap of $57.39 billion, a price-to-earnings ratio of 27.17, a price-to-earnings-growth ratio of 10.69 and a beta of 1.50. Simon Property Group has a twelve month low of $136.34 and a twelve month high of $190.13. The company has a quick ratio of 1.23, a current ratio of 1.23 and a debt-to-equity ratio of 9.05. The company has a 50 day moving average of $178.51 and a two-hundred day moving average of $166.10.

Simon Property Group (NYSE:SPG) last announced 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. The company had revenue of $1.50 billion during the quarter, compared to the consensus estimate of $1.40 billion. Simon Property Group had a net margin of 36.78% and a return on equity of 72.38%. Simon Property Group’s revenue was up 13.9% compared to the same quarter last year. During the same period last year, the firm earned $2.90 earnings per share. Simon Property Group has set its FY 2025 guidance at 12.450-12.650 EPS. As a group, analysts predict that Simon Property Group will post 12.54 earnings per share for the current fiscal year.

Simon Property Group Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, September 30th. Investors of record on Tuesday, September 9th were issued a dividend of $2.15 per share. This represents a $8.60 annualized dividend and a dividend yield of 4.9%. This is a boost from Simon Property Group’s previous quarterly dividend of $2.10. The ex-dividend date of this dividend was Tuesday, September 9th. Simon Property Group’s dividend payout ratio is 132.92%.

Insider Activity

In other Simon Property Group news, Director Larry C. Glasscock bought 351 shares of Simon Property Group stock in a transaction that occurred on Tuesday, September 30th. The stock was purchased at an average price of $185.95 per share, with a total value of $65,268.45. Following the completion of the acquisition, the director directly owned 43,536 shares in the company, valued at approximately $8,095,519.20. This trade represents a 0.81% increase in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director Gary M. Rodkin bought 219 shares of Simon Property Group stock in a transaction that occurred on Tuesday, September 30th. The shares were acquired at an average cost of $185.95 per share, with a total value of $40,723.05. Following the acquisition, the director owned 19,229 shares of the company’s stock, valued at $3,575,632.55. The trade was a 1.15% increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders have bought a total of 2,163 shares of company stock valued at $401,605 over the last quarter. Insiders own 8.60% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors have recently made changes to their positions in the business. Legacy Wealth Asset Management LLC raised its holdings in shares of Simon Property Group by 0.5% during the second quarter. Legacy Wealth Asset Management LLC now owns 13,768 shares of the real estate investment trust’s stock worth $2,213,000 after purchasing an additional 66 shares during the last quarter. Great Lakes Advisors LLC increased its holdings in Simon Property Group by 3.7% in the first quarter. Great Lakes Advisors LLC now owns 1,908 shares of the real estate investment trust’s stock valued at $317,000 after buying an additional 68 shares in the last quarter. Wedmont Private Capital increased its holdings in Simon Property Group by 1.0% in the second quarter. Wedmont Private Capital now owns 7,040 shares of the real estate investment trust’s stock valued at $1,147,000 after buying an additional 68 shares in the last quarter. PFS Partners LLC increased its holdings in Simon Property Group by 13.6% in the second quarter. PFS Partners LLC now owns 568 shares of the real estate investment trust’s stock valued at $91,000 after buying an additional 68 shares in the last quarter. Finally, Sumitomo Life Insurance Co. increased its holdings in Simon Property Group by 1.6% in the first quarter. Sumitomo Life Insurance Co. now owns 4,471 shares of the real estate investment trust’s stock valued at $743,000 after buying an additional 70 shares in the last quarter. Hedge funds and other institutional investors own 93.01% of the company’s stock.

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.