Mizuho Has Lowered Expectations for Simon Property Group (NYSE:SPG) Stock Price

Simon Property Group (NYSE:SPG) had its price target trimmed by Mizuho from $182.00 to $169.00 in a report issued on Tuesday,Benzinga reports. The brokerage currently has a neutral rating on the real estate investment trust’s stock.

Other equities analysts also recently issued research reports about the stock. Scotiabank dropped their price objective on shares of Simon Property Group from $186.00 to $159.00 and set a “sector perform” rating for the company in a research note on Wednesday, April 23rd. Piper Sandler decreased their price target on shares of Simon Property Group from $205.00 to $200.00 and set an “overweight” rating for the company in a research report on Friday, May 23rd. Wall Street Zen cut shares of Simon Property Group from a “buy” rating to a “hold” rating in a research report on Saturday, March 29th. JPMorgan Chase & Co. decreased their price target on shares of Simon Property Group from $192.00 to $180.00 and set a “neutral” rating for the company in a research report on Thursday, May 22nd. Finally, Stifel Nicolaus upped their price target on shares of Simon Property Group from $168.50 to $180.00 and gave the company a “buy” rating in a research report on Tuesday, May 13th. Six equities research analysts have rated the stock with a hold rating and four have given a buy rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and an average price target of $179.00.

Simon Property Group Price Performance

Shares of NYSE:SPG opened at $158.62 on Tuesday. The company has a market cap of $51.78 billion, a price-to-earnings ratio of 21.85, a PEG ratio of 10.10 and a beta of 1.47. The company has a debt-to-equity ratio of 7.19, a current ratio of 1.28 and a quick ratio of 2.00. The firm has a 50 day simple moving average of $157.45 and a 200 day simple moving average of $168.73. Simon Property Group has a one year low of $136.34 and a one year high of $190.14.

Simon Property Group (NYSE:SPG) last issued its quarterly earnings data on Monday, May 12th. The real estate investment trust reported $2.95 EPS for the quarter, beating the consensus estimate of $2.91 by $0.04. The business had revenue of $1.47 billion during the quarter, compared to the consensus estimate of $1.34 billion. Simon Property Group had a net margin of 41.49% and a return on equity of 74.02%. The firm’s revenue was up 2.1% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $3.56 EPS. Research 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 disclosed a quarterly dividend, which will be paid on Monday, June 30th. Stockholders of record on Monday, June 9th will be given a dividend of $2.10 per share. This represents a $8.40 annualized dividend and a dividend yield of 5.30%. The ex-dividend date of this dividend is Monday, June 9th. Simon Property Group’s dividend payout ratio (DPR) is presently 133.76%.

Institutional Investors Weigh In On Simon Property Group

Large investors have recently bought and sold shares of the stock. Asset Management One Co. Ltd. grew its holdings in Simon Property Group by 0.7% in the fourth quarter. Asset Management One Co. Ltd. now owns 587,933 shares of the real estate investment trust’s stock worth $101,130,000 after purchasing an additional 3,990 shares during the period. Brighton Jones LLC acquired a new stake in Simon Property Group in the fourth quarter worth $295,000. Allworth Financial LP grew its holdings in Simon Property Group by 140.6% in the fourth quarter. Allworth Financial LP now owns 3,152 shares of the real estate investment trust’s stock worth $545,000 after purchasing an additional 1,842 shares during the period. Principal Securities Inc. grew its holdings in Simon Property Group by 4.2% in the fourth quarter. Principal Securities Inc. now owns 4,140 shares of the real estate investment trust’s stock worth $713,000 after purchasing an additional 166 shares during the period. Finally, PNC Financial Services Group Inc. grew its holdings in Simon Property Group by 7.7% in the fourth quarter. PNC Financial Services Group Inc. now owns 361,893 shares of the real estate investment trust’s stock worth $62,322,000 after purchasing an additional 25,987 shares during the period. 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.