Simon Property Group, Inc. (NYSE:SPG) Given Consensus Recommendation of “Moderate Buy” by Analysts

Simon Property Group, Inc. (NYSE:SPG) has earned an average recommendation of “Moderate Buy” from the nine ratings firms that are presently covering the firm, Marketbeat Ratings reports. Four investment analysts have rated the stock with a hold recommendation and five have issued a buy recommendation on the company. The average 12-month target price among brokerages that have issued ratings on the stock in the last year is $179.67.

Several equities analysts recently issued reports on the company. StockNews.com cut Simon Property Group from a “buy” rating to a “hold” rating in a report on Saturday, March 29th. Piper Sandler raised Simon Property Group from a “neutral” rating to an “overweight” rating and lifted their price objective for the stock from $175.00 to $205.00 in a report on Wednesday, February 5th. Scotiabank reduced their price objective on Simon Property Group from $186.00 to $159.00 and set a “sector perform” rating for the company in a report on Wednesday, April 23rd. Finally, Stifel Nicolaus lifted their price objective on Simon Property Group from $168.50 to $180.00 and gave the stock a “buy” rating in a report on Tuesday.

Simon Property Group Stock Down 6.2%

SPG opened at $160.84 on Wednesday. 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 business has a 50 day simple moving average of $158.31 and a 200-day simple moving average of $171.07. The stock has a market capitalization of $52.48 billion, a P/E ratio of 22.15, a P/E/G ratio of 10.10 and a beta of 1.43. Simon Property Group has a 12 month low of $136.34 and a 12 month high of $190.14.

Simon Property Group (NYSE:SPG) last posted its quarterly earnings results 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 analysts’ expectations of $1.34 billion. Simon Property Group had a return on equity of 74.02% and a net margin of 41.49%. The company’s quarterly revenue was up 2.1% compared to the same quarter last year. During the same period last year, the firm earned $3.56 EPS. On average, equities analysts anticipate 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 declared a quarterly dividend, which will be paid on Monday, June 30th. Shareholders 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 yield of 5.22%. The ex-dividend date is Monday, June 9th. Simon Property Group’s payout ratio is 115.70%.

Hedge Funds Weigh In On Simon Property Group

Hedge funds have recently bought and sold shares of the stock. Asset Management One Co. Ltd. grew its position in shares of 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 valued at $101,130,000 after purchasing an additional 3,990 shares during the period. Merit Financial Group LLC purchased a new stake in shares of Simon Property Group in the fourth quarter valued at $416,000. SG Americas Securities LLC grew its position in shares of Simon Property Group by 48.0% in the fourth quarter. SG Americas Securities LLC now owns 7,151 shares of the real estate investment trust’s stock valued at $1,231,000 after purchasing an additional 2,320 shares during the period. Vert Asset Management LLC grew its position in shares of Simon Property Group by 3.1% in the fourth quarter. Vert Asset Management LLC now owns 125,398 shares of the real estate investment trust’s stock valued at $21,595,000 after purchasing an additional 3,783 shares during the period. Finally, TTP Investments Inc. grew its position in shares of Simon Property Group by 67.4% in the fourth quarter. TTP Investments Inc. now owns 57,399 shares of the real estate investment trust’s stock valued at $9,885,000 after purchasing an additional 23,109 shares during the period. 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.