Simon Property Group, Inc. (NYSE:SPG) Receives Consensus Rating of "Moderate Buy" from Brokerages

Simon Property Group, Inc. (NYSE:SPG - Get Free Report) has received an average recommendation of "Moderate Buy" from the nine ratings firms that are currently covering the company, MarketBeat Ratings reports. Four research analysts have rated the stock with a hold recommendation and five have given a buy recommendation to the company. The average 1 year target price among analysts that have covered the stock in the last year is $181.39.

SPG has been the topic of a number of research analyst reports. Stifel Nicolaus raised Simon Property Group from a "hold" rating to a "buy" rating and set a $168.50 price target on the stock in a research note on Wednesday, April 9th. StockNews.com downgraded Simon Property Group from a "buy" rating to a "hold" rating in a research report on Saturday, March 29th. Jefferies Financial Group upgraded Simon Property Group from a "hold" rating to a "buy" rating and lifted their price objective for the stock from $179.00 to $198.00 in a research report on Thursday, January 2nd. Scotiabank set a $186.00 price objective on Simon Property Group in a research report on Friday, February 28th. Finally, Piper Sandler upgraded Simon Property Group from a "neutral" rating to an "overweight" rating and lifted their price objective for the stock from $175.00 to $205.00 in a research report on Wednesday, February 5th.

Simon Property Group Price Performance

SPG traded up $5.35 during trading on Friday, hitting $156.06. The company's stock had a trading volume of 326,127 shares, compared to its average volume of 1,659,520. The company has a current ratio of 1.28, a quick ratio of 2.00 and a debt-to-equity ratio of 7.19. Simon Property Group has a twelve month low of $136.34 and a twelve month high of $190.13. The business's fifty day simple moving average is $165.52 and its 200 day simple moving average is $172.32. The firm has a market capitalization of $50.92 billion, a price-to-earnings ratio of 21.50, a P/E/G ratio of 10.10 and a beta of 1.45.

Simon Property Group (NYSE:SPG - Get Free Report) last issued its quarterly earnings data on Tuesday, February 4th. The real estate investment trust reported $3.68 EPS for the quarter, beating the consensus estimate of $1.98 by $1.70. Simon Property Group had a return on equity of 74.02% and a net margin of 41.49%. On average, equities research analysts forecast that Simon Property Group will post 12.54 EPS for the current fiscal year.

Simon Property Group Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, March 31st. Investors of record on Monday, March 10th were issued a $2.10 dividend. The ex-dividend date of this dividend was Monday, March 10th. This represents a $8.40 annualized dividend and a dividend yield of 5.38%. Simon Property Group's dividend payout ratio is presently 115.70%.

Institutional Investors Weigh In On Simon Property Group

Several institutional investors and hedge funds have recently modified their holdings of SPG. Hopwood Financial Services Inc. purchased a new stake in shares of Simon Property Group in the 4th quarter valued at $28,000. WR Wealth Planners LLC increased its holdings in Simon Property Group by 328.2% during the 4th quarter. WR Wealth Planners LLC now owns 167 shares of the real estate investment trust's stock worth $29,000 after purchasing an additional 128 shares during the period. New England Capital Financial Advisors LLC acquired a new stake in Simon Property Group in the 4th quarter valued at about $30,000. Caisse Des Depots ET Consignations acquired a new position in shares of Simon Property Group during the fourth quarter worth about $31,000. Finally, Continuum Advisory LLC grew its position in shares of Simon Property Group by 421.6% during the first quarter. Continuum Advisory LLC now owns 193 shares of the real estate investment trust's stock worth $32,000 after buying an additional 156 shares in the last quarter. Hedge funds and other institutional investors own 93.01% of the company's stock.

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.