Simon Property Group (NYSE:SPG) Price Target Raised to $115.00

Simon Property Group (NYSE:SPGGet Rating) had its price target lifted by UBS Group from $110.00 to $115.00 in a report published on Tuesday, Marketbeat.com reports. UBS Group currently has a neutral rating on the real estate investment trust’s stock.

A number of other equities research analysts also recently commented on SPG. Compass Point cut their target price on shares of Simon Property Group from $200.00 to $160.00 and set a buy rating for the company in a research report on Wednesday, June 22nd. Jefferies Financial Group downgraded shares of Simon Property Group from a buy rating to a hold rating and cut their target price for the stock from $160.00 to $100.00 in a research report on Thursday, June 30th. Morgan Stanley cut their price objective on shares of Simon Property Group from $145.00 to $133.00 and set an overweight rating for the company in a research report on Friday, July 15th. Wells Fargo & Company cut their price objective on shares of Simon Property Group from $152.00 to $140.00 and set an equal weight rating for the company in a research report on Thursday, April 7th. Finally, Stifel Nicolaus cut their price objective on shares of Simon Property Group from $180.00 to $165.00 in a research report on Tuesday, May 10th. Six research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company. According to data from MarketBeat, Simon Property Group has an average rating of Moderate Buy and an average price target of $145.07.

Simon Property Group Price Performance

Shares of SPG opened at $106.50 on Tuesday. The company has a market capitalization of $35.00 billion, a P/E ratio of 16.61, a price-to-earnings-growth ratio of 2.51 and a beta of 1.49. The company has a quick ratio of 1.10, a current ratio of 1.02 and a debt-to-equity ratio of 7.13. The firm has a 50 day moving average of $101.77 and a 200 day moving average of $120.94. Simon Property Group has a twelve month low of $93.06 and a twelve month high of $171.12.

Simon Property Group (NYSE:SPGGet Rating) last announced its quarterly earnings results on Monday, August 1st. The real estate investment trust reported $1.51 earnings per share for the quarter, beating the consensus estimate of $1.43 by $0.08. Simon Property Group had a net margin of 40.59% and a return on equity of 56.93%. The company had revenue of $1.28 billion during the quarter, compared to the consensus estimate of $1.25 billion. During the same quarter last year, the firm earned $2.92 earnings per share. The firm’s quarterly revenue was up 2.0% compared to the same quarter last year. As a group, equities research analysts anticipate that Simon Property Group will post 11.7 earnings per share for the current fiscal year.

Simon Property Group Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, September 30th. Shareholders of record on Friday, September 9th will be paid a $1.75 dividend. The ex-dividend date is Thursday, September 8th. This represents a $7.00 annualized dividend and a yield of 6.57%. This is a boost from Simon Property Group’s previous quarterly dividend of $1.70. Simon Property Group’s payout ratio is presently 106.08%.

Institutional Trading of Simon Property Group

Hedge funds have recently bought and sold shares of the stock. CWM LLC lifted its stake in Simon Property Group by 42.9% in the 1st quarter. CWM LLC now owns 2,137 shares of the real estate investment trust’s stock worth $281,000 after purchasing an additional 642 shares in the last quarter. Tobias Financial Advisors Inc. purchased a new stake in shares of Simon Property Group during the 4th quarter valued at about $28,939,000. CENTRAL TRUST Co grew its holdings in Simon Property Group by 18.8% during the 1st quarter. CENTRAL TRUST Co now owns 980 shares of the real estate investment trust’s stock valued at $129,000 after purchasing an additional 155 shares during the last quarter. MML Investors Services LLC grew its holdings in Simon Property Group by 13.1% during the 4th quarter. MML Investors Services LLC now owns 15,673 shares of the real estate investment trust’s stock valued at $2,504,000 after purchasing an additional 1,812 shares during the last quarter. Finally, LPL Financial LLC grew its holdings in Simon Property Group by 6.9% during the 4th quarter. LPL Financial LLC now owns 214,724 shares of the real estate investment trust’s stock valued at $34,306,000 after purchasing an additional 13,802 shares during the last quarter. Hedge funds and other institutional investors own 91.62% of the company’s stock.

About Simon Property Group

(Get Rating)

Simon is a real estate investment trust engaged in the ownership of premier shopping, dining, entertainment and mixed-use destinations and an S&P 100 company (Simon Property Group, NYSE: SPG). Our properties across North America, Europe and Asia provide community gathering places for millions of people every day and generate billions in annual sales.

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