Simon Property Group, Inc. (NYSE:SPG) Receives $153.50 Consensus Target Price from Analysts

Shares of Simon Property Group, Inc. (NYSE:SPG) have earned a consensus rating of “Hold” from the nine research firms that are currently covering the stock, MarketBeat reports. Five analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. The average 12-month price target among analysts that have issued a report on the stock in the last year is $153.50.

SPG has been the subject of several research analyst reports. Stifel Nicolaus raised their price target on Simon Property Group from $152.00 to $157.50 and gave the company a “buy” rating in a report on Tuesday, August 6th. Evercore ISI raised their target price on shares of Simon Property Group from $150.00 to $155.00 and gave the company an “in-line” rating in a report on Tuesday, August 6th. StockNews.com upgraded shares of Simon Property Group from a “hold” rating to a “buy” rating in a research report on Friday. Argus increased their price objective on shares of Simon Property Group from $157.00 to $168.00 and gave the company a “buy” rating in a research report on Tuesday, June 11th. Finally, Scotiabank lifted their price objective on shares of Simon Property Group from $142.00 to $152.00 and gave the stock a “sector perform” rating in a research note on Thursday, May 16th.

Simon Property Group Price Performance

SPG stock opened at $156.70 on Monday. The company has a debt-to-equity ratio of 7.53, a quick ratio of 2.04 and a current ratio of 2.04. The company’s fifty day moving average price is $151.23 and its 200-day moving average price is $149.05. Simon Property Group has a one year low of $102.11 and a one year high of $161.30. The company has a market capitalization of $51.07 billion, a PE ratio of 19.96, a price-to-earnings-growth ratio of 8.59 and a beta of 1.75.

Simon Property Group (NYSE:SPG) last announced its quarterly earnings results on Monday, August 5th. The real estate investment trust reported $1.51 EPS for the quarter, missing the consensus estimate of $2.93 by ($1.42). The company had revenue of $1.32 billion during the quarter, compared to analysts’ expectations of $1.30 billion. Simon Property Group had a return on equity of 78.14% and a net margin of 45.90%. The firm’s revenue for the quarter was up 4.8% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $2.88 EPS. On average, equities analysts anticipate that Simon Property Group will post 12.85 EPS for the current fiscal year.

Simon Property Group Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, September 30th. Investors of record on Monday, September 9th will be issued a dividend of $2.05 per share. The ex-dividend date is Monday, September 9th. This represents a $8.20 dividend on an annualized basis and a yield of 5.23%. This is a boost from Simon Property Group’s previous quarterly dividend of $2.00. Simon Property Group’s payout ratio is presently 101.91%.

Insiders Place Their Bets

In related news, Director Reuben S. Leibowitz bought 486 shares of the stock in a transaction dated Friday, June 28th. The stock was purchased at an average cost of $150.17 per share, with a total value of $72,982.62. Following the completion of the purchase, the director now owns 55,001 shares of the company’s stock, valued at $8,259,500.17. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Insiders own 8.50% of the company’s stock.

Institutional Trading of Simon Property Group

Several institutional investors and hedge funds have recently modified their holdings of the stock. Lighthouse Investment Partners LLC bought a new stake in Simon Property Group during the 4th quarter valued at $5,706,000. Corient Private Wealth LLC boosted its stake in shares of Simon Property Group by 97.8% during the fourth quarter. Corient Private Wealth LLC now owns 75,067 shares of the real estate investment trust’s stock valued at $10,708,000 after purchasing an additional 37,108 shares in the last quarter. Mitsubishi UFJ Asset Management Co. Ltd. increased its holdings in Simon Property Group by 3.1% during the fourth quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 510,682 shares of the real estate investment trust’s stock valued at $71,541,000 after buying an additional 15,251 shares during the period. Wealth Enhancement Advisory Services LLC raised its stake in Simon Property Group by 11.9% in the second quarter. Wealth Enhancement Advisory Services LLC now owns 34,054 shares of the real estate investment trust’s stock worth $5,169,000 after buying an additional 3,626 shares in the last quarter. Finally, Napa Wealth Management bought a new position in Simon Property Group in the fourth quarter worth approximately $3,151,000. Institutional investors own 93.01% of the company’s stock.

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.