Simon Property Group (NYSE:SPG) Lowered to "Hold" Rating by StockNews.com

StockNews.com lowered shares of Simon Property Group (NYSE:SPG - Free Report) from a buy rating to a hold rating in a report published on Saturday morning.

A number of other analysts also recently commented on SPG. Scotiabank set a $186.00 price objective on Simon Property Group in a report on Friday, February 28th. Deutsche Bank Aktiengesellschaft assumed coverage on Simon Property Group in a report on Tuesday, December 17th. They issued a "hold" rating and a $195.00 price objective on the stock. Piper Sandler upgraded Simon Property Group from a "neutral" rating to an "overweight" rating and boosted their target price for the stock from $175.00 to $205.00 in a report on Wednesday, February 5th. Jefferies Financial Group upgraded shares of Simon Property Group from a "hold" rating to a "buy" rating and raised their price target for the company from $179.00 to $198.00 in a report on Thursday, January 2nd. Finally, Mizuho upped their target price on Simon Property Group from $158.00 to $182.00 and gave the stock a "neutral" rating in a research report on Wednesday, December 4th. Six analysts have rated the stock with a hold rating and four have given a buy rating to the company. According to MarketBeat.com, the company has a consensus rating of "Hold" and an average price target of $180.33.

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Simon Property Group Trading Up 0.0 %

Simon Property Group stock traded up $0.02 during trading on Friday, hitting $164.30. The company's stock had a trading volume of 628,216 shares, compared to its average volume of 1,509,803. The stock's fifty day moving average is $175.42 and its 200 day moving average is $174.53. Simon Property Group has a 1-year low of $139.25 and a 1-year high of $190.13. The stock has a market capitalization of $53.61 billion, a price-to-earnings ratio of 22.63, a P/E/G ratio of 10.10 and a beta of 1.78. The company has a debt-to-equity ratio of 7.19, a quick ratio of 2.00 and a current ratio of 1.28.

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

Simon Property Group Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Monday, March 31st. Investors of record on Monday, March 10th will be paid a $2.10 dividend. The ex-dividend date of this dividend is Monday, March 10th. This represents a $8.40 dividend on an annualized basis and a dividend yield of 5.11%. Simon Property Group's dividend payout ratio (DPR) is presently 115.70%.

Institutional Inflows and Outflows

A number of large investors have recently added to or reduced their stakes in SPG. CreativeOne Wealth LLC lifted its position in shares of Simon Property Group by 128.0% during the third quarter. CreativeOne Wealth LLC now owns 7,555 shares of the real estate investment trust's stock worth $1,277,000 after purchasing an additional 4,241 shares during the last quarter. Public Sector Pension Investment Board lifted its holdings in Simon Property Group by 18.0% during the 3rd quarter. Public Sector Pension Investment Board now owns 53,411 shares of the real estate investment trust's stock worth $9,028,000 after buying an additional 8,132 shares during the last quarter. Rockefeller Capital Management L.P. grew its position in shares of Simon Property Group by 16.4% in the 3rd quarter. Rockefeller Capital Management L.P. now owns 92,207 shares of the real estate investment trust's stock worth $15,582,000 after acquiring an additional 12,990 shares in the last quarter. Icon Wealth Advisors LLC increased its holdings in shares of Simon Property Group by 14.9% in the 3rd quarter. Icon Wealth Advisors LLC now owns 1,646 shares of the real estate investment trust's stock valued at $278,000 after acquiring an additional 214 shares during the last quarter. Finally, Fred Alger Management LLC raised its position in shares of Simon Property Group by 4.0% during the 3rd quarter. Fred Alger Management LLC now owns 30,837 shares of the real estate investment trust's stock valued at $5,212,000 after acquiring an additional 1,178 shares in the last quarter. 93.01% of the stock is currently 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.