Simon Property Group, Inc. (NYSE:SPG) Given Consensus Rating of “Hold” by Brokerages

Simon Property Group, Inc. (NYSE:SPG) has been assigned an average rating of “Hold” from the ten brokerages that are presently covering the firm, MarketBeat reports. Seven analysts have rated the stock with a hold recommendation and three have given a buy recommendation to the company. The average 1-year price target among brokerages that have issued a report on the stock in the last year is $172.10.

Several equities research analysts have recently commented on the stock. Mizuho boosted their target price on shares of Simon Property Group from $158.00 to $182.00 and gave the company a “neutral” rating in a research note on Wednesday, December 4th. Jefferies Financial Group upgraded shares of Simon Property Group from a “hold” rating to a “buy” rating and boosted their price target for the company from $179.00 to $198.00 in a research report on Thursday, January 2nd. Deutsche Bank Aktiengesellschaft assumed coverage on shares of Simon Property Group in a report on Tuesday, December 17th. They set a “hold” rating and a $195.00 price objective for the company. Finally, StockNews.com cut shares of Simon Property Group from a “buy” rating to a “hold” rating in a research note on Thursday, October 10th.

Simon Property Group Stock Performance

NYSE:SPG opened at $171.87 on Thursday. The firm has a market capitalization of $56.08 billion, a PE ratio of 22.89, a price-to-earnings-growth ratio of 9.16 and a beta of 1.75. The company has a quick ratio of 2.00, a current ratio of 2.00 and a debt-to-equity ratio of 8.20. Simon Property Group has a 12-month low of $135.15 and a 12-month high of $186.00. The firm has a 50-day moving average price of $177.38 and a 200 day moving average price of $167.43.

Simon Property Group (NYSE:SPG) last issued its earnings results on Friday, November 1st. The real estate investment trust reported $1.46 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $3.00 by ($1.54). The company had revenue of $1.48 billion during the quarter, compared to analyst estimates of $1.32 billion. Simon Property Group had a return on equity of 76.21% and a net margin of 43.36%. The company’s quarterly revenue was up 4.9% on a year-over-year basis. During the same period in the previous year, the company posted $3.20 earnings per share. Research analysts anticipate that Simon Property Group will post 12.74 earnings per share for the current fiscal year.

Simon Property Group Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, December 30th. Investors of record on Monday, December 9th were given a $2.10 dividend. This represents a $8.40 annualized dividend and a yield of 4.89%. The ex-dividend date of this dividend was Monday, December 9th. This is a boost from Simon Property Group’s previous quarterly dividend of $2.05. Simon Property Group’s payout ratio is 111.85%.

Insider Activity

In related news, Director Reuben S. Leibowitz purchased 465 shares of the business’s stock in a transaction dated Monday, December 30th. The shares were bought at an average price of $168.59 per share, with a total value of $78,394.35. Following the purchase, the director now directly owns 55,919 shares in the company, valued at $9,427,384.21. This trade represents a 0.84 % increase in their position. The acquisition was disclosed in a filing with the SEC, which is available at this link. 8.60% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Simon Property Group

Hedge funds and other institutional investors have recently made changes to their positions in the company. Wetzel Investment Advisors Inc. bought a new position in shares of Simon Property Group during the 2nd quarter valued at about $27,000. Capital Performance Advisors LLP bought a new position in Simon Property Group in the third quarter valued at approximately $30,000. Trivant Custom Portfolio Group LLC acquired a new position in shares of Simon Property Group in the third quarter valued at approximately $42,000. Eastern Bank bought a new stake in shares of Simon Property Group during the third quarter worth $42,000. Finally, Ashton Thomas Securities LLC acquired a new stake in shares of Simon Property Group during the third quarter worth $52,000. 93.01% of the stock is owned by institutional investors.

Simon Property Group Company Profile

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.