Brokerages Set Simon Property Group, Inc. (NYSE:SPG) PT at $178.44

Shares of Simon Property Group, Inc. (NYSE:SPG) have been assigned an average recommendation of “Hold” from the nine research firms that are presently covering the firm, MarketBeat.com reports. Five investment analysts have rated the stock with a hold rating and four have given a buy rating to the company. The average 1 year price objective among brokers that have issued ratings on the stock in the last year is $178.44.

A number of brokerages have recently commented on SPG. Mizuho increased their price target on shares of Simon Property Group from $158.00 to $182.00 and gave the stock a “neutral” rating in a report on Wednesday, December 4th. Piper Sandler raised shares of Simon Property Group from a “neutral” rating to an “overweight” rating and lifted their price target for the stock from $175.00 to $205.00 in a research note on Wednesday, February 5th. Deutsche Bank Aktiengesellschaft initiated 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 for the company. Jefferies Financial Group raised shares of Simon Property Group from a “hold” rating to a “buy” rating and boosted their price target for the stock from $179.00 to $198.00 in a research note on Thursday, January 2nd. Finally, StockNews.com raised Simon Property Group from a “hold” rating to a “buy” rating in a research note on Friday, February 28th.

Simon Property Group Stock Performance

NYSE SPG opened at $183.30 on Friday. The company’s 50 day simple moving average is $177.83 and its two-hundred day simple moving average is $174.25. The stock has a market capitalization of $59.81 billion, a PE ratio of 25.25, a P/E/G ratio of 10.10 and a beta of 1.78. The company has a debt-to-equity ratio of 7.19, a current ratio of 1.28 and a quick ratio of 2.00. Simon Property Group has a 1 year low of $139.25 and a 1 year high of $190.14.

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, topping the consensus estimate of $1.98 by $1.70. Simon Property Group had a return on equity of 74.02% and a net margin of 41.49%. Analysts predict that Simon Property Group will post 12.54 earnings per share for the current fiscal year.

Simon Property Group Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Monday, March 31st. Investors of record on Monday, March 10th will be paid a $2.10 dividend. The ex-dividend date of this dividend is Monday, March 10th. This represents a $8.40 annualized dividend and a yield of 4.58%. Simon Property Group’s payout ratio is 115.70%.

Insiders Place Their Bets

In related news, Director Reuben S. Leibowitz purchased 465 shares of the business’s stock in a transaction that occurred on Monday, December 30th. The shares were bought at an average price of $168.59 per share, for a total transaction of $78,394.35. Following the purchase, the director now directly owns 55,919 shares of the company’s stock, valued at approximately $9,427,384.21. This represents a 0.84 % increase in their position. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. 8.50% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Simon Property Group

Several hedge funds have recently added to or reduced their stakes in the stock. Hopwood Financial Services Inc. purchased a new position in Simon Property Group in the fourth quarter worth about $28,000. WR Wealth Planners LLC increased its position in shares of Simon Property Group by 328.2% during the 4th quarter. WR Wealth Planners LLC now owns 167 shares of the real estate investment trust’s stock valued at $29,000 after purchasing an additional 128 shares during the last quarter. New England Capital Financial Advisors LLC bought a new position in Simon Property Group in the fourth quarter worth approximately $30,000. Capital Performance Advisors LLP purchased a new position in Simon Property Group during the third quarter valued at $30,000. Finally, Caisse Des Depots ET Consignations purchased a new position in shares of Simon Property Group during the 4th quarter valued at about $31,000. 93.01% of the stock is owned by institutional investors.

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.