Stifel Nicolaus Issues Positive Forecast for Simon Property Group (NYSE:SPG) Stock Price

Simon Property Group (NYSE:SPG) had its price target hoisted by Stifel Nicolaus from $179.00 to $184.00 in a report issued on Tuesday, MarketBeat Ratings reports. They currently have a hold rating on the real estate investment trust’s stock.

A number of other research analysts have also recently commented on SPG. LADENBURG THALM/SH SH began coverage on Simon Property Group in a report on Friday, July 18th. They issued a “buy” rating and a $225.00 price target on the stock. Scotiabank boosted their price target on Simon Property Group from $163.00 to $173.00 and gave the stock a “sector perform” rating in a report on Thursday, August 28th. Truist Financial boosted their price target on Simon Property Group from $168.00 to $169.00 and gave the stock a “hold” rating in a report on Monday, August 25th. Barclays upped their price objective on Simon Property Group from $170.00 to $180.00 and gave the stock an “equal weight” rating in a report on Monday, October 6th. Finally, Argus reaffirmed a “buy” rating and set a $185.00 price objective on shares of Simon Property Group in a report on Friday, September 5th. Five research analysts have rated the stock with a Buy rating and nine have assigned a Hold rating to the company’s stock. According to MarketBeat, the company has a consensus rating of “Hold” and a consensus target price of $187.69.

Simon Property Group Stock Up 3.3%

NYSE SPG opened at $182.50 on Tuesday. The stock’s 50 day moving average is $180.30 and its 200 day moving average is $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 has a 12 month low of $136.34 and a 12 month high of $190.13. The stock has a market cap of $59.58 billion, a PE ratio of 28.21, a P/E/G ratio of 12.73 and a beta of 1.50.

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

Simon Property Group Increases Dividend

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

Insider Activity at Simon Property Group

In related news, Director Daniel C. Smith purchased 335 shares of the firm’s stock in a transaction that occurred on 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 acquisition, the director owned 32,333 shares of the company’s stock, valued at approximately $6,012,321.35. This represents a 1.05% increase in their position. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, Director Gary M. Rodkin purchased 219 shares of the firm’s stock in a transaction that occurred on Tuesday, September 30th. The shares were bought at an average price of $185.95 per share, for a total transaction of $40,723.05. Following the acquisition, the director directly owned 19,229 shares in the company, valued at $3,575,632.55. This trade represents a 1.15% increase in their position. Additional details regarding this purchase are available in the official SEC disclosure. Insiders have bought a total of 2,163 shares of company stock worth $401,605 in the last ninety days. Corporate insiders own 8.66% of the company’s stock.

Institutional Trading of Simon Property Group

Several hedge funds and other institutional investors have recently bought and sold shares of the stock. Legacy Wealth Asset Management LLC raised its holdings in Simon Property Group by 0.5% during the 2nd quarter. Legacy Wealth Asset Management LLC now owns 13,768 shares of the real estate investment trust’s stock valued at $2,213,000 after buying an additional 66 shares during the period. Howard Capital Management Inc. raised its holdings in Simon Property Group by 3.1% during the 3rd quarter. Howard Capital Management Inc. now owns 2,175 shares of the real estate investment trust’s stock valued at $408,000 after buying an additional 66 shares during the period. Great Lakes Advisors LLC raised its holdings in Simon Property Group by 3.7% during the 1st 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 during the period. Wedmont Private Capital grew its position in Simon Property Group by 1.0% in the 2nd quarter. Wedmont Private Capital now owns 7,040 shares of the real estate investment trust’s stock valued at $1,147,000 after acquiring an additional 68 shares during the last quarter. Finally, PFS Partners LLC grew its position in Simon Property Group by 13.6% in the 2nd quarter. PFS Partners LLC now owns 568 shares of the real estate investment trust’s stock valued at $91,000 after acquiring an additional 68 shares during 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.