Simon Property Group (NYSE:SPG) Upgraded to Buy at StockNews.com

StockNews.com upgraded shares of Simon Property Group (NYSE:SPG) from a hold rating to a buy rating in a research note published on Friday morning.

Other research analysts also recently issued reports about the stock. Deutsche Bank Aktiengesellschaft started coverage on shares of Simon Property Group in a research report on Tuesday, December 17th. They set a “hold” rating and a $195.00 target price on the stock. Jefferies Financial Group upgraded shares of Simon Property Group from a “hold” rating to a “buy” rating and upped their target price for the company from $179.00 to $198.00 in a research report on Thursday, January 2nd. Mizuho upped their target price on shares of Simon Property Group from $158.00 to $182.00 and gave the company a “neutral” rating in a research report on Wednesday, December 4th. Finally, Piper Sandler upgraded shares of Simon Property Group from a “neutral” rating to an “overweight” rating and upped their target price for the company from $175.00 to $205.00 in a research report on Wednesday, February 5th. Five analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $178.44.

Simon Property Group Stock Up 1.9 %

Shares of NYSE:SPG opened at $186.13 on Friday. Simon Property Group has a 12 month low of $139.25 and a 12 month high of $188.13. The company’s 50-day moving average price is $177.31 and its two-hundred day moving average price is $173.62. The company has a quick ratio of 2.00, a current ratio of 1.28 and a debt-to-equity ratio of 7.19. The firm has a market cap of $60.73 billion, a P/E ratio of 25.64, a P/E/G ratio of 10.10 and a beta of 1.74.

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, topping analysts’ consensus estimates of $1.98 by $1.70. Simon Property Group had a net margin of 41.49% and a return on equity of 74.02%. As a group, research analysts forecast that Simon Property Group will post 12.54 EPS for the current fiscal year.

Simon Property Group Announces Dividend

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 given a $2.10 dividend. The ex-dividend date of this dividend is Monday, March 10th. This represents a $8.40 dividend on an annualized basis and a dividend yield of 4.51%. Simon Property Group’s dividend payout ratio is 115.70%.

Insider Activity at Simon Property Group

In other 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 acquired at an average cost of $168.59 per share, for a total transaction of $78,394.35. Following the transaction, the director now directly owns 55,919 shares of the company’s stock, valued at approximately $9,427,384.21. The trade was a 0.84 % increase in their position. The acquisition was disclosed in a filing with the SEC, which is available at this link. 8.50% of the stock is currently owned by corporate insiders.

Institutional Trading of Simon Property Group

Hedge funds have recently modified their holdings of the company. Hopwood Financial Services Inc. acquired a new stake in Simon Property Group during the 4th quarter worth approximately $28,000. WR Wealth Planners LLC raised its holdings in 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 worth $29,000 after buying an additional 128 shares during the period. Capital Performance Advisors LLP acquired a new stake in Simon Property Group during the 3rd quarter worth approximately $30,000. New England Capital Financial Advisors LLC acquired a new stake in Simon Property Group during the 4th quarter worth approximately $30,000. Finally, Caisse Des Depots ET Consignations acquired a new stake in Simon Property Group during the 4th quarter worth approximately $31,000. 93.01% of the stock is currently owned by institutional investors and hedge funds.

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.