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

Simon Property Group, Inc. (NYSE:SPG) has earned a consensus rating of “Hold” from the nine brokerages that are covering the company, MarketBeat.com reports. Six analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. The average twelve-month price target among brokers that have issued ratings on the stock in the last year is $162.78.

Several research analysts have recently commented on SPG shares. Truist Financial boosted their target price on Simon Property Group from $147.00 to $158.00 and gave the stock a “hold” rating in a report on Wednesday, August 28th. Piper Sandler reiterated a “neutral” rating and issued a $175.00 price objective (down from $190.00) on shares of Simon Property Group in a report on Tuesday, September 3rd. StockNews.com lowered shares of Simon Property Group from a “buy” rating to a “hold” rating in a research report on Thursday, October 10th. Evercore ISI raised shares of Simon Property Group from an “in-line” rating to an “outperform” rating and lifted their target price for the stock from $160.00 to $172.00 in a report on Monday, September 16th. Finally, Mizuho upped their target price on Simon Property Group from $155.00 to $158.00 and gave the company a “neutral” rating in a research report on Monday, August 19th.

Insider Activity at Simon Property Group

In other Simon Property Group news, Director Allan B. Hubbard bought 370 shares of Simon Property Group stock in a transaction on Monday, September 30th. The shares were purchased at an average price of $167.30 per share, with a total value of $61,901.00. Following the acquisition, the director now owns 34,301 shares in the company, valued at $5,738,557.30. This trade represents a 1.09 % increase in their position. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. 8.60% of the stock is currently owned by insiders.

Institutional Trading of Simon Property Group

Large investors have recently bought and sold shares of the business. Opal Wealth Advisors LLC acquired a new stake in shares of Simon Property Group in the 2nd quarter valued at approximately $25,000. EntryPoint Capital LLC acquired a new position in shares of Simon Property Group during the first quarter worth $26,000. Wetzel Investment Advisors Inc. bought a new position in shares of Simon Property Group in the 2nd quarter valued at $27,000. RFP Financial Group LLC boosted its holdings in shares of Simon Property Group by 727.3% during the 2nd quarter. RFP Financial Group LLC now owns 182 shares of the real estate investment trust’s stock valued at $28,000 after acquiring an additional 160 shares in the last quarter. Finally, Pathway Financial Advisers LLC bought a new stake in Simon Property Group during the 1st quarter worth $29,000. 93.01% of the stock is owned by institutional investors and hedge funds.

Simon Property Group Stock Up 1.9 %

NYSE:SPG opened at $183.48 on Wednesday. The firm has a market capitalization of $59.87 billion, a price-to-earnings ratio of 24.43, a price-to-earnings-growth ratio of 10.51 and a beta of 1.74. Simon Property Group has a twelve month low of $119.92 and a twelve month high of $183.96. The stock’s 50 day moving average price is $173.24 and its two-hundred day moving average price is $160.72. The company has a quick ratio of 2.00, a current ratio of 2.00 and a debt-to-equity ratio of 8.20.

Simon Property Group (NYSE:SPG) last announced its quarterly earnings data on Friday, November 1st. The real estate investment trust reported $1.46 EPS for the quarter, missing analysts’ consensus estimates of $3.00 by ($1.54). Simon Property Group had a net margin of 43.36% and a return on equity of 76.21%. The firm had revenue of $1.48 billion during the quarter, compared to the consensus estimate of $1.32 billion. During the same period last year, the business earned $3.20 EPS. The business’s revenue was up 4.9% on a year-over-year basis. Equities research analysts expect that Simon Property Group will post 12.79 earnings per share for the current fiscal year.

Simon Property Group Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, December 30th. Stockholders of record on Monday, December 9th will be issued a dividend of $2.10 per share. This represents a $8.40 dividend on an annualized basis and a dividend yield of 4.58%. The ex-dividend date is Monday, December 9th. This is an increase from Simon Property Group’s previous quarterly dividend of $2.05. Simon Property Group’s dividend payout ratio is 109.19%.

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.