Simon Property Group, Inc. (NYSE:SPG) Plans Quarterly Dividend of $2.10

Simon Property Group, Inc. (NYSE:SPG) announced a quarterly dividend on Tuesday, February 4th,RTT News reports. Investors of record on Monday, March 10th will be paid a dividend of 2.10 per share by the real estate investment trust on Monday, March 31st. This represents a $8.40 annualized dividend and a yield of 4.74%.

Simon Property Group has increased its dividend by an average of 11.5% annually over the last three years. Simon Property Group has a dividend payout ratio of 128.0% meaning the company cannot currently cover its dividend with earnings alone and is relying on its balance sheet to cover its dividend payments. Equities analysts expect Simon Property Group to earn $12.44 per share next year, which means the company should continue to be able to cover its $8.40 annual dividend with an expected future payout ratio of 67.5%.

Simon Property Group Price Performance

Shares of NYSE:SPG opened at $177.13 on Wednesday. The firm’s 50 day moving average is $175.74 and its two-hundred day moving average is $170.06. The firm has a market capitalization of $57.79 billion, a P/E ratio of 23.61, a PEG ratio of 9.31 and a beta of 1.74. The company has a current ratio of 2.00, a quick ratio of 2.00 and a debt-to-equity ratio of 8.20. Simon Property Group has a 52 week low of $137.25 and a 52 week high of $186.00.

Simon Property Group (NYSE:SPG) last posted its earnings results on Tuesday, February 4th. The real estate investment trust reported $3.68 EPS for the quarter, beating the consensus estimate of $1.98 by $1.70. Simon Property Group had a return on equity of 76.21% and a net margin of 43.36%. Analysts anticipate that Simon Property Group will post 12.72 earnings per share for the current year.

Analyst Ratings Changes

Several research analysts recently weighed in on SPG shares. StockNews.com cut Simon Property Group from a “buy” rating to a “hold” rating in a research note on Thursday, October 10th. Deutsche Bank Aktiengesellschaft started coverage on shares of Simon Property Group in a research note on Tuesday, December 17th. They issued a “hold” rating and a $195.00 price objective on the stock. Piper Sandler raised shares of Simon Property Group from a “neutral” rating to an “overweight” rating and increased their target price for the company from $175.00 to $205.00 in a research note on Wednesday. Mizuho lifted their price target on shares of Simon Property Group from $158.00 to $182.00 and gave the stock a “neutral” rating in a research report on Wednesday, December 4th. Finally, Jefferies Financial Group upgraded Simon Property Group from a “hold” rating to a “buy” rating and lifted their target price for the stock from $179.00 to $198.00 in a report on Thursday, January 2nd. Seven analysts have rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. According to MarketBeat, the company has an average rating of “Hold” and an average price target of $175.10.

Insider Buying and Selling

In other news, Director Reuben S. Leibowitz bought 465 shares of the stock in a transaction on Monday, December 30th. The shares were purchased at an average price of $168.59 per share, for a total transaction of $78,394.35. Following the completion of the purchase, the director now directly owns 55,919 shares of the company’s stock, valued at $9,427,384.21. This trade represents a 0.84 % increase in their position. The purchase was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. 8.60% of the stock is currently owned by corporate insiders.

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.