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

Shares of Simon Property Group, Inc. (NYSE:SPG) have been assigned a consensus recommendation of “Moderate Buy” from the ten brokerages that are covering the stock, MarketBeat reports. Five analysts have rated the stock with a hold recommendation and five have assigned a buy recommendation to the company. The average 12-month target price among brokerages that have issued ratings on the stock in the last year is $147.60.

SPG has been the subject of a number of recent analyst reports. Argus lifted their price objective on shares of Simon Property Group from $157.00 to $168.00 and gave the company a “buy” rating in a report on Tuesday, June 11th. Truist Financial lifted their price objective on shares of Simon Property Group from $139.00 to $147.00 and gave the company a “hold” rating in a report on Friday, March 22nd. Scotiabank lifted their target price on shares of Simon Property Group from $142.00 to $152.00 and gave the company a “sector perform” rating in a research report on Thursday, May 16th. Finally, StockNews.com upgraded shares of Simon Property Group from a “hold” rating to a “buy” rating in a research report on Thursday, April 18th.

Hedge Funds Weigh In On Simon Property Group

Institutional investors and hedge funds have recently bought and sold shares of the business. Clearstead Trust LLC acquired a new position in Simon Property Group during the first quarter worth about $25,000. EntryPoint Capital LLC acquired a new position in Simon Property Group during the first quarter worth about $26,000. Cape Investment Advisory Inc. raised its stake in Simon Property Group by 3,200.0% during the fourth quarter. Cape Investment Advisory Inc. now owns 198 shares of the real estate investment trust’s stock worth $28,000 after purchasing an additional 192 shares during the period. Pathway Financial Advisers LLC purchased a new position in Simon Property Group during the first quarter worth about $29,000. Finally, Hillsdale Investment Management Inc. purchased a new position in Simon Property Group during the first quarter worth about $33,000. 93.01% of the stock is currently owned by institutional investors and hedge funds.

Simon Property Group Trading Up 1.5 %

Shares of Simon Property Group stock opened at $149.81 on Friday. The company has a debt-to-equity ratio of 7.20, a current ratio of 2.19 and a quick ratio of 2.19. The firm has a fifty day moving average price of $147.21 and a 200 day moving average price of $146.49. Simon Property Group has a 1 year low of $102.11 and a 1 year high of $157.82. The stock has a market cap of $48.83 billion, a PE ratio of 19.08, a price-to-earnings-growth ratio of 8.79 and a beta of 1.71.

Simon Property Group (NYSE:SPG) last issued its earnings results on Monday, May 6th. The real estate investment trust reported $2.25 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.80 by ($0.55). Simon Property Group had a return on equity of 78.50% and a net margin of 46.49%. The business had revenue of $1.44 billion for the quarter, compared to analysts’ expectations of $1.31 billion. During the same period last year, the business earned $2.74 EPS. The company’s revenue for the quarter was up 6.8% on a year-over-year basis. Equities research analysts predict that Simon Property Group will post 12.84 earnings per share for the current year.

Simon Property Group Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, June 28th. Investors of record on Friday, June 7th will be given a dividend of $2.00 per share. The ex-dividend date is Friday, June 7th. This is a positive change from Simon Property Group’s previous quarterly dividend of $1.95. This represents a $8.00 dividend on an annualized basis and a yield of 5.34%. Simon Property Group’s payout ratio is presently 101.91%.

Simon Property Group Company Profile

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.