Simon Property Group, Inc. (NYSE:SPG) Receives Average Recommendation of “Hold” from Brokerages

Shares of Simon Property Group, Inc. (NYSE:SPG) have earned a consensus recommendation of “Hold” from the fourteen brokerages that are covering the stock, Marketbeat.com reports. Nine equities research analysts have rated the stock with a hold recommendation and five have assigned a buy recommendation to the company. The average 1-year target price among brokerages that have updated their coverage on the stock in the last year is $193.8462.

SPG has been the subject of several research analyst reports. Morgan Stanley set a $205.00 target price on shares of Simon Property Group in a research report on Friday. Truist Financial lifted their price target on shares of Simon Property Group from $169.00 to $181.00 and gave the company a “hold” rating in a research note on Wednesday, December 17th. Evercore ISI increased their price objective on shares of Simon Property Group from $187.00 to $188.00 and gave the stock an “in-line” rating in a research report on Friday, October 17th. Weiss Ratings restated a “buy (b)” rating on shares of Simon Property Group in a research note on Friday, January 9th. Finally, Piper Sandler boosted their target price on Simon Property Group from $210.00 to $225.00 and gave the company an “overweight” rating in a research report on Monday, November 10th.

Simon Property Group Stock Up 1.4%

Shares of NYSE:SPG opened at $184.94 on Monday. Simon Property Group has a 1 year low of $136.34 and a 1 year high of $190.13. The company has a debt-to-equity ratio of 9.59, a current ratio of 1.44 and a quick ratio of 1.44. The business’s 50-day moving average is $184.11 and its 200-day moving average is $178.07. The company has a market capitalization of $60.38 billion, a price-to-earnings ratio of 26.92, a P/E/G ratio of 8.81 and a beta of 1.37.

Simon Property Group (NYSE:SPG) last issued its earnings results on Monday, November 3rd. The real estate investment trust reported $3.22 earnings per share for the quarter, topping analysts’ consensus estimates of $3.09 by $0.13. Simon Property Group had a return on equity of 79.30% and a net margin of 38.18%.The business had revenue of $1.60 billion during the quarter, compared to the consensus estimate of $1.41 billion. During the same period in the previous year, the company posted $3.05 earnings per share. The firm’s revenue for the quarter was up 8.2% on a year-over-year basis. Simon Property Group has set its FY 2025 guidance at 12.600-12.700 EPS. Equities research analysts predict that Simon Property Group will post 12.54 earnings per share for the current year.

Simon Property Group Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, December 31st. Stockholders of record on Wednesday, December 10th were given a dividend of $2.20 per share. The ex-dividend date of this dividend was Wednesday, December 10th. This is a positive change from Simon Property Group’s previous quarterly dividend of $2.15. This represents a $8.80 dividend on an annualized basis and a dividend yield of 4.8%. Simon Property Group’s payout ratio is currently 128.09%.

Insider Buying and Selling

In other Simon Property Group news, Director Reuben S. Leibowitz purchased 480 shares of Simon Property Group stock in a transaction that occurred on Wednesday, December 31st. The stock was acquired at an average price of $186.00 per share, with a total value of $89,280.00. Following the transaction, the director owned 53,639 shares in the company, valued at $9,976,854. This trade represents a 0.90% increase in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Daniel C. Smith purchased 347 shares of the firm’s stock in a transaction on Wednesday, December 31st. The shares were acquired at an average price of $186.00 per share, with a total value of $64,542.00. Following the purchase, the director directly owned 32,680 shares in the company, valued at $6,078,480. This represents a 1.07% increase in their position. The SEC filing for this purchase provides additional information. Insiders purchased 2,192 shares of company stock worth $407,712 over the last quarter. Corporate insiders own 8.66% of the company’s stock.

Hedge Funds Weigh In On Simon Property Group

Large investors have recently added to or reduced their stakes in the business. Embree Financial Group raised its stake in shares of Simon Property Group by 2.4% in the fourth quarter. Embree Financial Group now owns 2,414 shares of the real estate investment trust’s stock worth $447,000 after purchasing an additional 56 shares during the last quarter. Colonial Trust Co SC grew its holdings in Simon Property Group by 25.7% during the third quarter. Colonial Trust Co SC now owns 318 shares of the real estate investment trust’s stock worth $59,000 after buying an additional 65 shares in the last quarter. MassMutual Private Wealth & Trust FSB grew its holdings in Simon Property Group by 4.3% during the fourth quarter. MassMutual Private Wealth & Trust FSB now owns 1,582 shares of the real estate investment trust’s stock worth $293,000 after buying an additional 65 shares in the last quarter. Legacy Wealth Asset Management LLC raised its position in Simon Property Group by 0.5% in 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 last quarter. Finally, Howard Capital Management Inc. lifted its stake 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 acquiring an additional 66 shares in the last quarter. Institutional investors own 93.01% of the company’s stock.

Simon Property Group Company Profile

Simon Property Group, Inc (NYSE: SPG) is a publicly traded real estate investment trust (REIT) that owns, develops and manages retail real estate properties. Its core business activities include acquisition, development, leasing and property management of regional malls, outlet centers and mixed‑use retail destinations. The company operates retail brands that include high‑profile regional shopping centers and the Premium Outlets platform, and it provides services such as tenant leasing, marketing, property operations and capital projects to optimize asset performance.

Simon’s portfolio spans a broad mix of enclosed malls, open‑air centers, outlet properties and mixed‑use developments, and the company pursues redevelopment and repositioning to adapt properties to changing consumer and retail trends.