Simon Property Group, Inc. (NYSE:SPG) Receives $182.73 Consensus Price Target from Analysts

Simon Property Group, Inc. (NYSE:SPG) has been assigned a consensus rating of “Hold” from the eleven research firms that are covering the company, MarketBeat reports. Six research analysts have rated the stock with a hold rating and five have issued a buy rating on the company. The average 1 year price target among analysts that have covered the stock in the last year is $182.73.

Several research analysts recently weighed in on SPG shares. Piper Sandler reduced their price target on 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. Stifel Nicolaus lifted their target price on shares of Simon Property Group from $168.50 to $180.00 and gave the company a “buy” rating in a report on Tuesday, May 13th. Mizuho decreased their target price on shares of Simon Property Group from $182.00 to $169.00 and set a “neutral” rating for the company in a research note on Tuesday, June 10th. Scotiabank raised their price target on shares of Simon Property Group from $159.00 to $163.00 and gave the company a “sector perform” rating in a research report on Tuesday, June 17th. Finally, LADENBURG THALM/SH SH initiated coverage on shares of Simon Property Group in a report on Friday, July 18th. They issued a “buy” rating and a $225.00 price objective for the company.

Simon Property Group Trading Down 1.5%

NYSE SPG opened at $165.62 on Monday. Simon Property Group has a 1 year low of $136.34 and a 1 year high of $190.13. The company has a debt-to-equity ratio of 8.29, a current ratio of 1.45 and a quick ratio of 1.45. The company has a market capitalization of $54.06 billion, a PE ratio of 26.37, a P/E/G ratio of 11.35 and a beta of 1.43. The company has a fifty day moving average of $161.70 and a 200 day moving average of $165.32.

Simon Property Group (NYSE:SPG) last released its quarterly earnings data on Monday, May 12th. The real estate investment trust reported $2.95 earnings per share for the quarter, beating analysts’ consensus estimates of $2.91 by $0.04. Simon Property Group had a return on equity of 67.32% and a net margin of 35.98%. The business had revenue of $1.47 billion during the quarter, compared to analyst estimates of $1.34 billion. During the same quarter last year, the business posted $3.56 EPS. The company’s revenue was up 2.1% on a year-over-year basis. Research analysts forecast 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 was paid on Monday, June 30th. Shareholders of record on Monday, June 9th were issued a dividend of $2.10 per share. This represents a $8.40 annualized dividend and a yield of 5.07%. The ex-dividend date of this dividend was Monday, June 9th. Simon Property Group’s payout ratio is 133.76%.

Insiders Place Their Bets

In related news, Director Reuben S. Leibowitz purchased 522 shares of Simon Property Group stock in a transaction that occurred on Monday, June 30th. The stock was purchased at an average price of $159.29 per share, for a total transaction of $83,149.38. Following the transaction, the director directly owned 58,195 shares in the company, valued at approximately $9,269,881.55. This trade represents a 0.91% increase in their ownership of the stock. The acquisition was disclosed in a filing with the SEC, which is available through the SEC website. Also, Director Gary M. Rodkin purchased 246 shares of the firm’s stock in a transaction that occurred on Monday, June 30th. The stock was bought at an average cost of $159.29 per share, for a total transaction of $39,185.34. Following the completion of the purchase, the director directly owned 19,010 shares in the company, valued at $3,028,102.90. This represents a 1.31% increase in their position. The disclosure for this purchase can be found here. Over the last quarter, insiders have acquired 2,386 shares of company stock valued at $380,066. 8.66% of the stock is owned by company insiders.

Hedge Funds Weigh In On Simon Property Group

Several hedge funds and other institutional investors have recently made changes to their positions in SPG. Farther Finance Advisors LLC lifted its holdings in Simon Property Group by 31.1% in the 1st quarter. Farther Finance Advisors LLC now owns 3,325 shares of the real estate investment trust’s stock valued at $553,000 after purchasing an additional 789 shares in the last quarter. Golden State Wealth Management LLC raised its position in shares of Simon Property Group by 193.5% in the first quarter. Golden State Wealth Management LLC now owns 772 shares of the real estate investment trust’s stock valued at $128,000 after buying an additional 509 shares during the last quarter. Brighton Jones LLC acquired a new position in Simon Property Group during the fourth quarter worth about $295,000. J.W. Cole Advisors Inc. purchased a new stake in Simon Property Group during the 1st quarter valued at about $895,000. Finally, Mirae Asset Global Investments Co. Ltd. raised its holdings in Simon Property Group by 8.7% in the 1st quarter. Mirae Asset Global Investments Co. Ltd. now owns 57,310 shares of the real estate investment trust’s stock valued at $9,415,000 after acquiring an additional 4,589 shares during the last quarter. Hedge funds and other 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.