Simon Property Group (NYSE:SPG) Upgraded to Overweight at Piper Sandler

Piper Sandler upgraded shares of Simon Property Group (NYSE:SPG) from a neutral rating to an overweight rating in a research report released on Wednesday, Marketbeat reports. They currently have $205.00 price objective on the real estate investment trust’s stock, up from their prior price objective of $175.00.

SPG has been the topic of a number of other reports. Jefferies Financial Group upgraded Simon Property Group from a “hold” rating to a “buy” rating and boosted their price objective for the company from $179.00 to $198.00 in a research note on Thursday, January 2nd. Deutsche Bank Aktiengesellschaft began coverage on shares of Simon Property Group in a report on Tuesday, December 17th. They issued a “hold” rating and a $195.00 price target on the stock. Mizuho boosted their price objective on shares of Simon Property Group from $158.00 to $182.00 and gave the company a “neutral” rating in a research note on Wednesday, December 4th. Finally, StockNews.com lowered shares of Simon Property Group from a “buy” rating to a “hold” rating in a report on Thursday, October 10th. Seven analysts have rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and an average target price of $175.10.

Simon Property Group Price Performance

SPG opened at $179.02 on Wednesday. The firm has a 50-day moving average price of $175.74 and a 200-day moving average price of $170.06. Simon Property Group has a twelve month low of $137.25 and a twelve month high of $186.00. The company has a quick ratio of 2.00, a current ratio of 2.00 and a debt-to-equity ratio of 8.20. The company has a market capitalization of $58.41 billion, a price-to-earnings ratio of 23.84, a PEG ratio of 9.31 and a beta of 1.74.

Simon Property Group (NYSE:SPG) last released its quarterly earnings data 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 net margin of 43.36% and a return on equity of 76.21%. Equities analysts expect that Simon Property Group will post 12.72 EPS for the current year.

Simon Property Group Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Monday, March 31st. Stockholders of record on Monday, March 10th will be issued a $2.10 dividend. This represents a $8.40 dividend on an annualized basis and a dividend yield of 4.69%. The ex-dividend date is Monday, March 10th. Simon Property Group’s payout ratio is 111.85%.

Insider Transactions at Simon Property Group

In other news, Director Reuben S. Leibowitz acquired 465 shares of Simon Property Group stock in a transaction dated Monday, December 30th. The shares were purchased at an average cost of $168.59 per share, for a total transaction of $78,394.35. Following the transaction, the director now owns 55,919 shares of the company’s stock, valued at $9,427,384.21. This trade represents a 0.84 % increase in their ownership of the stock. The purchase was disclosed in a legal filing with the SEC, which is available through the SEC website. 8.60% of the stock is currently owned by insiders.

Institutional Trading of Simon Property Group

Several hedge funds and other institutional investors have recently bought and sold shares of SPG. WR Wealth Planners LLC lifted its holdings in shares of Simon Property Group by 328.2% in the 4th quarter. WR Wealth Planners LLC now owns 167 shares of the real estate investment trust’s stock worth $29,000 after acquiring an additional 128 shares during the last quarter. Capital Performance Advisors LLP purchased a new position in Simon Property Group in the 3rd quarter worth $30,000. New England Capital Financial Advisors LLC bought a new stake in Simon Property Group in the fourth quarter worth $30,000. Synergy Asset Management LLC purchased a new stake in Simon Property Group during the fourth quarter valued at about $41,000. Finally, Wingate Wealth Advisors Inc. bought a new position in shares of Simon Property Group during the fourth quarter valued at about $41,000. 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.