Shares of Simon Property Group, Inc. (NYSE:SPG - Get Free Report) have earned an average recommendation of "Hold" from the nine ratings firms that are covering the firm, Marketbeat.com reports. Five investment analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. The average 12 month target price among analysts that have issued ratings on the stock in the last year is $180.33.
SPG has been the subject of a number of research reports. Jefferies Financial Group upgraded shares of Simon Property Group from a "hold" rating to a "buy" rating and lifted their target price for the stock from $179.00 to $198.00 in a research report on Thursday, January 2nd. Scotiabank set a $186.00 target price on shares of Simon Property Group in a report on Friday, February 28th. Deutsche Bank Aktiengesellschaft started coverage on shares of Simon Property Group in a research report on Tuesday, December 17th. They issued a "hold" rating and a $195.00 price objective for the company. StockNews.com upgraded shares of Simon Property Group from a "hold" rating to a "buy" rating in a research report on Friday. Finally, Piper Sandler upgraded Simon Property Group from a "neutral" rating to an "overweight" rating and raised their price objective for the stock from $175.00 to $205.00 in a report on Wednesday, February 5th.
Read Our Latest Stock Analysis on Simon Property Group
Simon Property Group Stock Performance
NYSE SPG traded down $0.21 on Tuesday, hitting $165.91. 1,661,777 shares of the company's stock were exchanged, compared to its average volume of 1,341,945. The firm has a market cap of $54.13 billion, a price-to-earnings ratio of 22.85, a P/E/G ratio of 10.10 and a beta of 1.78. The firm's 50-day moving average price is $175.98 and its two-hundred day moving average price is $174.45. Simon Property Group has a fifty-two week low of $139.25 and a fifty-two week high of $190.14. The company has a debt-to-equity ratio of 7.19, a current ratio of 1.28 and a quick ratio of 2.00.
Simon Property Group (NYSE:SPG - Get Free Report) last issued its earnings results on Tuesday, February 4th. The real estate investment trust reported $3.68 earnings per share for the quarter, topping the consensus estimate of $1.98 by $1.70. Simon Property Group had a net margin of 41.49% and a return on equity of 74.02%. On average, research analysts expect that Simon Property Group will post 12.54 EPS for the current year.
Simon Property Group Dividend Announcement
The company also recently disclosed a quarterly dividend, which will be paid on Monday, March 31st. Stockholders of record on Monday, March 10th will be paid a $2.10 dividend. This represents a $8.40 dividend on an annualized basis and a dividend yield of 5.06%. The ex-dividend date is Monday, March 10th. Simon Property Group's dividend payout ratio is presently 115.70%.
Insider Transactions at Simon Property Group
In related news, Director Reuben S. Leibowitz acquired 465 shares of the business's stock in a transaction on Monday, December 30th. The shares were purchased at an average price of $168.59 per share, for a total transaction of $78,394.35. Following the acquisition, the director now owns 55,919 shares in the company, valued at approximately $9,427,384.21. This represents a 0.84 % increase in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Corporate insiders own 8.50% of the company's stock.
Institutional Investors Weigh In On Simon Property Group
A number of large investors have recently made changes to their positions in the company. Hopwood Financial Services Inc. acquired a new stake in Simon Property Group during the 4th quarter valued at $28,000. WR Wealth Planners LLC lifted its stake in Simon Property Group by 328.2% in the 4th quarter. WR Wealth Planners LLC now owns 167 shares of the real estate investment trust's stock worth $29,000 after acquiring an additional 128 shares in the last quarter. New England Capital Financial Advisors LLC acquired a new stake in Simon Property Group during the 4th quarter worth about $30,000. Caisse Des Depots ET Consignations purchased a new position in Simon Property Group during the 4th quarter valued at about $31,000. Finally, TCTC Holdings LLC acquired a new position in shares of Simon Property Group in the 4th quarter valued at about $34,000. Institutional investors and hedge funds own 93.01% of the company's stock.
About Simon Property Group
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Get Free ReportSimon 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.
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