Simon Property Group, Inc. (NYSE:SPG) Given Average Recommendation of “Hold” by Brokerages

Shares of Simon Property Group, Inc. (NYSE:SPG) have been assigned an average recommendation of “Hold” from the nine brokerages that are presently covering the company, MarketBeat.com reports. Five equities research analysts have rated the stock with a hold rating and four have issued a buy rating on the company. The average 12 month price objective among brokers that have issued a report on the stock in the last year is $180.33.

A number of analysts have recently issued reports on the company. Piper Sandler upgraded Simon Property Group from a “neutral” rating to an “overweight” rating and lifted their price target for the company from $175.00 to $205.00 in a research report on Wednesday, February 5th. Deutsche Bank Aktiengesellschaft initiated 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 for the company. Jefferies Financial Group raised shares of Simon Property Group from a “hold” rating to a “buy” rating and increased their price target for the stock from $179.00 to $198.00 in a report on Thursday, January 2nd. Mizuho lifted their price objective 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. Finally, Scotiabank set a $186.00 target price on Simon Property Group in a research note on Friday, February 28th.

Simon Property Group Stock Performance

Simon Property Group stock opened at $164.21 on Tuesday. The firm’s 50 day simple moving average is $175.42 and its 200 day simple moving average is $174.45. The company has a current ratio of 1.28, a quick ratio of 2.00 and a debt-to-equity ratio of 7.19. Simon Property Group has a 1-year low of $139.25 and a 1-year high of $190.14. The firm has a market capitalization of $53.58 billion, a PE ratio of 22.62, a price-to-earnings-growth ratio of 10.10 and a beta of 1.78.

Simon Property Group (NYSE:SPG) last issued its quarterly earnings data on Tuesday, February 4th. The real estate investment trust reported $3.68 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.98 by $1.70. Simon Property Group had a return on equity of 74.02% and a net margin of 41.49%. As a group, analysts expect that Simon Property Group will post 12.54 earnings per share for the current fiscal year.

Simon Property Group Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Monday, March 31st. Stockholders of record on Monday, March 10th will be paid a dividend of $2.10 per share. The ex-dividend date is Monday, March 10th. This represents a $8.40 dividend on an annualized basis and a dividend yield of 5.12%. Simon Property Group’s dividend payout ratio (DPR) is currently 115.70%.

Insider Transactions at Simon Property Group

In other news, Director Reuben S. Leibowitz bought 465 shares of the business’s stock in a transaction dated 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 acquisition, the director now owns 55,919 shares of the company’s stock, valued at approximately $9,427,384.21. This trade represents a 0.84 % increase in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Company insiders own 8.50% of the company’s stock.

Institutional Investors Weigh In On Simon Property Group

A number of large investors have recently added to or reduced their stakes in SPG. Norges Bank purchased a new stake in shares of Simon Property Group during the fourth quarter worth about $2,059,505,000. Geode Capital Management LLC lifted its holdings in Simon Property Group by 2.6% in the 4th quarter. Geode Capital Management LLC now owns 9,160,242 shares of the real estate investment trust’s stock worth $1,577,600,000 after buying an additional 230,982 shares during the period. Northern Trust Corp increased its stake in shares of Simon Property Group by 45.9% during the fourth quarter. Northern Trust Corp now owns 5,462,856 shares of the real estate investment trust’s stock valued at $940,758,000 after buying an additional 1,718,398 shares during the period. JPMorgan Chase & Co. raised its holdings in shares of Simon Property Group by 5.5% during the fourth quarter. JPMorgan Chase & Co. now owns 4,710,538 shares of the real estate investment trust’s stock valued at $811,202,000 after acquiring an additional 246,630 shares in the last quarter. Finally, Invesco Ltd. lifted its stake in Simon Property Group by 14.8% in the fourth quarter. Invesco Ltd. now owns 4,216,575 shares of the real estate investment trust’s stock worth $726,136,000 after acquiring an additional 542,511 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.