Simon Property Group, Inc. (NYSE:SPG) Given Average Rating of "Hold" by Analysts

Shares of Simon Property Group, Inc. (NYSE:SPG - Get Free Report) have been assigned a consensus rating of "Hold" from the nine brokerages that are currently covering the firm, Marketbeat reports. Six analysts have rated the stock with a hold recommendation and three have issued a buy recommendation on the company. The average 12-month price objective among analysts that have issued a report on the stock in the last year is $165.44.

A number of brokerages have issued reports on SPG. Mizuho increased their target price on shares of Simon Property Group from $158.00 to $182.00 and gave the stock a "neutral" rating in a research report on Wednesday, December 4th. StockNews.com lowered shares of Simon Property Group from a "buy" rating to a "hold" rating in a research report on Thursday, October 10th. Evercore ISI upgraded shares of Simon Property Group from an "in-line" rating to an "outperform" rating and increased their price target for the stock from $160.00 to $172.00 in a research report on Monday, September 16th. Piper Sandler reiterated a "neutral" rating and set a $175.00 price target (down previously from $190.00) on shares of Simon Property Group in a research report on Tuesday, September 3rd. Finally, Scotiabank increased their price target on shares of Simon Property Group from $152.00 to $169.00 and gave the stock a "sector perform" rating in a research report on Monday, August 26th.

Insider Buying and Selling at Simon Property Group

In other Simon Property Group news, Director Allan B. Hubbard purchased 370 shares of the company's stock in a transaction dated Monday, September 30th. The stock was purchased at an average price of $167.30 per share, with a total value of $61,901.00. Following the completion of the purchase, the director now owns 34,301 shares of the company's stock, valued at approximately $5,738,557.30. The trade was a 1.09 % increase in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this link. Company insiders own 8.50% of the company's stock.

Hedge Funds Weigh In On Simon Property Group

Several large investors have recently modified their holdings of SPG. Assenagon Asset Management S.A. raised its stake in shares of Simon Property Group by 4.9% during the second quarter. Assenagon Asset Management S.A. now owns 7,043 shares of the real estate investment trust's stock valued at $1,069,000 after acquiring an additional 330 shares during the last quarter. Blue Trust Inc. raised its stake in shares of Simon Property Group by 453.6% during the second quarter. Blue Trust Inc. now owns 1,384 shares of the real estate investment trust's stock valued at $217,000 after acquiring an additional 1,134 shares during the last quarter. Brookstone Capital Management raised its stake in shares of Simon Property Group by 39.3% during the second quarter. Brookstone Capital Management now owns 19,492 shares of the real estate investment trust's stock valued at $3,019,000 after acquiring an additional 5,501 shares during the last quarter. Raymond James & Associates raised its stake in shares of Simon Property Group by 1.4% during the second quarter. Raymond James & Associates now owns 268,258 shares of the real estate investment trust's stock valued at $40,721,000 after acquiring an additional 3,634 shares during the last quarter. Finally, Hennion & Walsh Asset Management Inc. raised its stake in shares of Simon Property Group by 42.5% during the second quarter. Hennion & Walsh Asset Management Inc. now owns 6,348 shares of the real estate investment trust's stock valued at $964,000 after acquiring an additional 1,893 shares during the last quarter. Institutional investors own 93.01% of the company's stock.

Simon Property Group Stock Performance

Shares of NYSE:SPG traded up $2.40 on Friday, reaching $179.60. 1,462,367 shares of the company's stock were exchanged, compared to its average volume of 1,466,900. The company has a fifty day moving average of $176.65 and a 200-day moving average of $163.67. Simon Property Group has a twelve month low of $135.15 and a twelve month high of $186.00. The company has a market capitalization of $58.60 billion, a price-to-earnings ratio of 23.91, a PEG ratio of 10.50 and a beta of 1.75. The company has a current ratio of 2.00, a quick ratio of 2.00 and a debt-to-equity ratio of 8.20.

Simon Property Group (NYSE:SPG - Get Free Report) last announced 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). Simon Property Group had a return on equity of 76.21% and a net margin of 43.36%. The business had revenue of $1.48 billion for the quarter, compared to analyst estimates of $1.32 billion. During the same quarter in the previous year, the company earned $3.20 EPS. The business's revenue for the quarter was up 4.9% on a year-over-year basis. On average, research analysts predict that Simon Property Group will post 12.76 EPS for the current fiscal year.

Simon Property Group Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, December 30th. Shareholders of record on Monday, December 9th will be given a $2.10 dividend. The ex-dividend date is Monday, December 9th. This represents a $8.40 dividend on an annualized basis and a yield of 4.68%. This is a positive change from Simon Property Group's previous quarterly dividend of $2.05. Simon Property Group's dividend payout ratio (DPR) is currently 111.85%.

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.