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

Simon Property Group, Inc. (NYSE:SPG) has earned an average recommendation of “Hold” from the fourteen analysts that are covering the company, Marketbeat Ratings reports. Nine equities research analysts have rated the stock with a hold recommendation and five have given a buy recommendation to the company. The average 1-year price target among brokers that have issued ratings on the stock in the last year is $187.6923.

Several equities analysts have recently weighed in on the company. Truist Financial lifted their price objective on Simon Property Group from $168.00 to $169.00 and gave the company a “hold” rating in a report on Monday, August 25th. 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. JPMorgan Chase & Co. boosted their target price on Simon Property Group from $180.00 to $184.00 and gave the company a “neutral” rating in a research note on Friday, August 22nd. Morgan Stanley boosted their target price on Simon Property Group from $170.00 to $180.00 and gave the company an “equal weight” rating in a research note on Thursday, September 11th. Finally, Barclays boosted their target price on Simon Property Group from $170.00 to $180.00 and gave the company an “equal weight” rating in a research note on Monday, October 6th.

Simon Property Group Price Performance

Simon Property Group stock opened at $182.50 on Wednesday. The firm has a market capitalization of $59.58 billion, a P/E ratio of 28.21, a PEG ratio of 12.73 and a beta of 1.50. Simon Property Group has a 1 year low of $136.34 and a 1 year high of $190.13. The business has a 50-day moving average of $180.30 and a 200-day moving average of $169.08. The company has a current ratio of 1.23, a quick ratio of 1.23 and a debt-to-equity ratio of 9.05.

Simon Property Group (NYSE:SPG) last posted its earnings results on Monday, November 3rd. The real estate investment trust reported $3.22 earnings per share (EPS) for the quarter, topping the consensus estimate of $3.09 by $0.13. The company had revenue of $1.60 billion during the quarter, compared to analyst estimates of $1.41 billion. Simon Property Group had a return on equity of 72.38% and a net margin of 36.78%.The company’s revenue for the quarter was up 8.2% compared to the same quarter last year. During the same period in the previous year, the company earned $3.05 EPS. Simon Property Group has set its FY 2025 guidance at 12.600-12.700 EPS. On average, equities analysts anticipate that Simon Property Group will post 12.54 EPS for the current year.

Simon Property Group Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, December 31st. Stockholders of record on Wednesday, December 10th will be paid a dividend of $2.20 per share. The ex-dividend date is Wednesday, December 10th. This represents a $8.80 dividend on an annualized basis and a dividend yield of 4.8%. This is an increase from Simon Property Group’s previous quarterly dividend of $2.15. Simon Property Group’s dividend payout ratio (DPR) is currently 132.92%.

Insider Activity at Simon Property Group

In related news, Director Daniel C. Smith acquired 335 shares of the company’s stock in a transaction dated Tuesday, September 30th. The shares were bought at an average price of $185.95 per share, for a total transaction of $62,293.25. Following the purchase, the director directly owned 32,333 shares in the company, valued at approximately $6,012,321.35. This trade represents a 1.05% increase in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Stefan M. Selig acquired 195 shares of the company’s stock in a transaction dated Tuesday, September 30th. The shares were bought at an average price of $185.95 per share, for a total transaction of $36,260.25. Following the purchase, the director owned 32,076 shares in the company, valued at approximately $5,964,532.20. This represents a 0.61% increase in their ownership of the stock. Additional details regarding this purchase are available in the official SEC disclosure. Over the last quarter, insiders have purchased 2,163 shares of company stock worth $401,605. Insiders own 8.66% of the company’s stock.

Institutional Investors Weigh In On Simon Property Group

A number of large investors have recently added to or reduced their stakes in SPG. Vanguard Group Inc. increased its position in Simon Property Group by 0.3% during the 2nd quarter. Vanguard Group Inc. now owns 45,839,312 shares of the real estate investment trust’s stock worth $7,369,128,000 after buying an additional 149,314 shares during the period. State Street Corp increased its position in Simon Property Group by 1.1% during the 2nd quarter. State Street Corp now owns 21,452,497 shares of the real estate investment trust’s stock worth $3,448,703,000 after buying an additional 228,819 shares during the period. Geode Capital Management LLC increased its position in Simon Property Group by 1.3% during the 2nd quarter. Geode Capital Management LLC now owns 9,592,471 shares of the real estate investment trust’s stock worth $1,536,565,000 after buying an additional 127,636 shares during the period. Norges Bank bought a new position in Simon Property Group during the 2nd quarter worth $1,051,262,000. Finally, JPMorgan Chase & Co. increased its position in Simon Property Group by 34.2% during the 2nd quarter. JPMorgan Chase & Co. now owns 6,512,383 shares of the real estate investment trust’s stock worth $1,046,943,000 after buying an additional 1,660,188 shares during the period. Institutional investors own 93.01% of the company’s stock.

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.