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

Simon Property Group, Inc. (NYSE:SPG) has been assigned a consensus rating of “Hold” from the nine ratings firms that are covering the company, Marketbeat reports. Five research analysts have rated the stock with a hold recommendation and four have issued a buy recommendation on the company. The average 1-year price objective among brokerages that have updated their coverage on the stock in the last year is $180.33.

A number of research firms have recently weighed in on SPG. Mizuho lifted their price objective on Simon Property Group from $158.00 to $182.00 and gave the company a “neutral” rating in a research report on Wednesday, December 4th. Jefferies Financial Group upgraded shares of Simon Property Group from a “hold” rating to a “buy” rating and upped their price target for the stock from $179.00 to $198.00 in a research report on Thursday, January 2nd. Deutsche Bank Aktiengesellschaft started coverage on shares of Simon Property Group in a research note on Tuesday, December 17th. They issued a “hold” rating and a $195.00 price objective for the company. Piper Sandler raised Simon Property Group from a “neutral” rating to an “overweight” rating and raised their price target for the company from $175.00 to $205.00 in a report on Wednesday, February 5th. Finally, Scotiabank set a $186.00 price target on shares of Simon Property Group in a research note on Friday, February 28th.

Insider Activity at Simon Property Group

In other Simon Property Group news, Director Reuben S. Leibowitz acquired 465 shares of the business’s stock in a transaction that occurred on Monday, December 30th. The shares were bought at an average cost of $168.59 per share, with a total value of $78,394.35. Following the completion of the acquisition, the director now directly owns 55,919 shares in the company, valued at $9,427,384.21. This represents a 0.84 % increase in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 8.50% of the stock is owned by company insiders.

Hedge Funds Weigh In On Simon Property Group

Several institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Wilmington Savings Fund Society FSB purchased a new stake in shares of Simon Property Group during the third quarter worth about $834,000. First Hawaiian Bank increased its stake in shares of Simon Property Group by 35.0% in the 4th quarter. First Hawaiian Bank now owns 5,294 shares of the real estate investment trust’s stock valued at $912,000 after purchasing an additional 1,372 shares in the last quarter. Versant Capital Management Inc raised its position in Simon Property Group by 72.8% during the fourth quarter. Versant Capital Management Inc now owns 999 shares of the real estate investment trust’s stock worth $172,000 after acquiring an additional 421 shares during the period. Asset Management One Co. Ltd. raised its stake in Simon Property Group by 0.7% in the 4th quarter. Asset Management One Co. Ltd. now owns 587,933 shares of the real estate investment trust’s stock valued at $101,130,000 after purchasing an additional 3,990 shares during the last quarter. Finally, Merit Financial Group LLC acquired a new position in shares of Simon Property Group during the 4th quarter worth approximately $416,000. Hedge funds and other institutional investors own 93.01% of the company’s stock.

Simon Property Group Stock Up 2.6 %

Shares of SPG stock opened at $166.36 on Tuesday. 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 12 month low of $139.25 and a 12 month high of $190.14. The stock has a market cap of $54.28 billion, a P/E ratio of 22.91, a P/E/G ratio of 10.10 and a beta of 1.78. The company has a 50 day simple moving average of $175.98 and a two-hundred day simple moving average of $174.45.

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

Simon Property Group Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Monday, March 31st. Investors of record on Monday, March 10th will be issued 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 yield of 5.05%. Simon Property Group’s payout ratio is 115.70%.

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.