Simon Property Group, Inc. (NYSE:SPG) Receives Average Recommendation of “Moderate Buy” from Analysts

Simon Property Group, Inc. (NYSE:SPG) has received an average rating of “Moderate Buy” from the nine brokerages that are covering the stock, MarketBeat.com reports. Four analysts have rated the stock with a hold recommendation and five have given a buy recommendation to the company. The average 12 month target price among analysts that have issued a report on the stock in the last year is $179.67.

A number of equities analysts recently weighed in on the stock. Scotiabank lowered their price target on shares of Simon Property Group from $186.00 to $159.00 and set a “sector perform” rating on the stock in a research report on Wednesday, April 23rd. Stifel Nicolaus boosted their price target on shares of Simon Property Group from $168.50 to $180.00 and gave the stock a “buy” rating in a research report on Tuesday, May 13th. Piper Sandler upgraded shares of Simon Property Group from a “neutral” rating to an “overweight” rating and boosted their price target for the stock from $175.00 to $205.00 in a research report on Wednesday, February 5th. Finally, StockNews.com lowered shares of Simon Property Group from a “buy” rating to a “hold” rating in a research report on Saturday, March 29th.

Simon Property Group Stock Up 1.3%

Shares of NYSE SPG opened at $165.15 on Wednesday. The company’s 50-day simple moving average is $158.09 and its 200-day simple moving average is $170.89. Simon Property Group has a 52-week low of $136.34 and a 52-week high of $190.14. The firm has a market cap of $53.91 billion, a price-to-earnings ratio of 22.75, a price-to-earnings-growth ratio of 10.10 and a beta of 1.43. The company has a quick ratio of 2.00, a current ratio of 1.28 and a debt-to-equity ratio of 7.19.

Simon Property Group (NYSE:SPG) last announced its earnings results on Monday, May 12th. The real estate investment trust reported $2.95 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.91 by $0.04. The business had revenue of $1.47 billion for the quarter, compared to analyst estimates of $1.34 billion. Simon Property Group had a net margin of 41.49% and a return on equity of 74.02%. The company’s revenue for the quarter was up 2.1% compared to the same quarter last year. During the same quarter last year, the business earned $3.56 earnings per share. Equities analysts predict that Simon Property Group will post 12.54 EPS for the current fiscal year.

Simon Property Group Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, June 30th. Shareholders of record on Monday, June 9th will be issued a $2.10 dividend. The ex-dividend date of this dividend is Monday, June 9th. This represents a $8.40 annualized dividend and a yield of 5.09%. Simon Property Group’s payout ratio is 133.76%.

Hedge Funds Weigh In On Simon Property Group

Institutional investors and hedge funds have recently bought and sold shares of the company. Park Square Financial Group LLC boosted its holdings in Simon Property Group by 108.0% in the 1st quarter. Park Square Financial Group LLC now owns 156 shares of the real estate investment trust’s stock valued at $26,000 after purchasing an additional 81 shares during the last quarter. Hopwood Financial Services Inc. acquired a new position in Simon Property Group in the 4th quarter valued at about $28,000. WR Wealth Planners LLC boosted its holdings in 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 valued at $29,000 after purchasing an additional 128 shares during the last quarter. Richardson Financial Services Inc. boosted its holdings in Simon Property Group by 185.0% in the 1st quarter. Richardson Financial Services Inc. now owns 171 shares of the real estate investment trust’s stock valued at $28,000 after purchasing an additional 111 shares during the last quarter. Finally, New England Capital Financial Advisors LLC purchased a new stake in shares of Simon Property Group in the 4th quarter valued at approximately $30,000. 93.01% of the stock is currently owned by institutional investors and hedge funds.

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.