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

Shares of Simon Property Group, Inc. (NYSE:SPG) have received a consensus recommendation of “Hold” from the ten research firms that are presently covering the firm, Marketbeat.com reports. Six investment analysts have rated the stock with a hold recommendation and four have given a buy recommendation to the company. The average 1-year price objective among analysts that have covered the stock in the last year is $175.10.

Several research analysts have recently weighed in on the stock. Piper Sandler raised shares of Simon Property Group from a “neutral” rating to an “overweight” rating and upped their price target for the stock from $175.00 to $205.00 in a report on Wednesday. Jefferies Financial Group upgraded Simon Property Group from a “hold” rating to a “buy” rating and upped their target price for the stock from $179.00 to $198.00 in a research note on Thursday, January 2nd. Deutsche Bank Aktiengesellschaft initiated coverage on Simon Property Group in a research report on Tuesday, December 17th. They set a “hold” rating and a $195.00 price target for the company. Finally, Mizuho upped their price objective 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.

Simon Property Group Stock Down 0.1 %

SPG stock opened at $180.01 on Monday. The stock has a 50-day simple moving average of $175.57 and a two-hundred day simple moving average of $170.19. Simon Property Group has a twelve month low of $139.25 and a twelve month high of $186.00. The firm has a market capitalization of $58.73 billion, a PE ratio of 23.97, a PEG ratio of 9.31 and a beta of 1.74. 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 issued its quarterly earnings data 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 net margin of 43.36% and a return on equity of 76.21%. On average, equities analysts predict that Simon Property Group will post 12.72 EPS for the current fiscal year.

Simon Property Group Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, March 31st. Shareholders of record on Monday, March 10th will be given a dividend of $2.10 per share. This represents a $8.40 dividend on an annualized basis and a yield of 4.67%. The ex-dividend date of this dividend is Monday, March 10th. Simon Property Group’s payout ratio is currently 111.85%.

Insiders Place Their Bets

In related news, Director Reuben S. Leibowitz bought 465 shares of the company’s stock in a transaction that occurred on Monday, December 30th. The stock was bought at an average cost of $168.59 per share, for a total transaction of $78,394.35. Following the acquisition, the director now directly owns 55,919 shares of the company’s stock, valued at $9,427,384.21. The trade was a 0.84 % increase in their position. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Insiders own 8.60% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in SPG. Charles Schwab Investment Management Inc. raised its holdings in Simon Property Group by 1.8% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 3,637,529 shares of the real estate investment trust’s stock valued at $626,419,000 after buying an additional 64,418 shares during the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its stake in shares of Simon Property Group by 617.5% during the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 3,191,296 shares of the real estate investment trust’s stock valued at $539,393,000 after acquiring an additional 2,746,503 shares during the last quarter. Smead Capital Management Inc. boosted its holdings in shares of Simon Property Group by 3.5% during the third quarter. Smead Capital Management Inc. now owns 2,620,355 shares of the real estate investment trust’s stock worth $442,892,000 after purchasing an additional 88,378 shares during the period. Amundi grew its stake in shares of Simon Property Group by 10.5% in the fourth quarter. Amundi now owns 1,728,738 shares of the real estate investment trust’s stock worth $301,088,000 after purchasing an additional 163,764 shares during the last quarter. Finally, Sumitomo Mitsui Trust Group Inc. increased its holdings in Simon Property Group by 1.7% during the 3rd quarter. Sumitomo Mitsui Trust Group Inc. now owns 1,487,897 shares of the real estate investment trust’s stock valued at $251,484,000 after purchasing an additional 25,519 shares during the period. 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.