Free Trial

Simon Property Group (NYSE:SPG) Reaches New 12-Month High - Here's Why

Simon Property Group logo with Finance background

Simon Property Group, Inc. (NYSE:SPG - Get Free Report)'s stock price hit a new 52-week high during mid-day trading on Thursday . The stock traded as high as $187.10 and last traded at $186.24, with a volume of 1004082 shares traded. The stock had previously closed at $183.88.

Analyst Upgrades and Downgrades

Several analysts recently issued reports on the company. Piper Sandler upgraded Simon Property Group from a "neutral" rating to an "overweight" rating and increased their price objective for the stock from $175.00 to $205.00 in a report on Wednesday, February 5th. Jefferies Financial Group upgraded Simon Property Group from a "hold" rating to a "buy" rating and increased their price objective for the stock from $179.00 to $198.00 in a report on Thursday, January 2nd. Mizuho raised their target price on Simon Property Group from $158.00 to $182.00 and gave the company a "neutral" rating in a report on Wednesday, December 4th. Finally, Deutsche Bank Aktiengesellschaft started coverage on Simon Property Group in a report on Tuesday, December 17th. They set a "hold" rating and a $195.00 target price on the stock. Seven equities research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company's stock. According to MarketBeat.com, Simon Property Group currently has a consensus rating of "Hold" and an average price target of $175.10.

Check Out Our Latest Stock Report on SPG

Simon Property Group Stock Down 0.6 %

The company has a debt-to-equity ratio of 7.19, a current ratio of 1.28 and a quick ratio of 2.00. The business has a 50 day moving average price of $175.72 and a 200 day moving average price of $171.69. The firm has a market capitalization of $60.40 billion, a P/E ratio of 25.50, a price-to-earnings-growth ratio of 9.58 and a beta of 1.74.

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, topping analysts' consensus estimates 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, analysts predict that Simon Property Group, Inc. will post 12.54 earnings per share for the current year.

Simon Property Group Announces Dividend

The firm 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. 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 4.54%. Simon Property Group's payout ratio is presently 115.70%.

Insider Transactions at Simon Property Group

In other news, Director Reuben S. Leibowitz bought 465 shares of the firm's stock in a transaction that occurred on Monday, December 30th. The shares were acquired at an average cost of $168.59 per share, with a total value of $78,394.35. Following the completion of the transaction, the director now directly owns 55,919 shares in the company, valued at $9,427,384.21. This represents a 0.84 % increase in their ownership of the stock. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. 8.50% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Simon Property Group

A number of institutional investors have recently added to or reduced their stakes in SPG. Creative Planning grew its position in Simon Property Group by 4.9% during the third quarter. Creative Planning now owns 79,678 shares of the real estate investment trust's stock worth $13,467,000 after buying an additional 3,696 shares in the last quarter. Vontobel Holding Ltd. acquired a new stake in Simon Property Group during the third quarter worth about $310,000. Bleakley Financial Group LLC grew its position in Simon Property Group by 1.1% during the third quarter. Bleakley Financial Group LLC now owns 6,175 shares of the real estate investment trust's stock worth $1,044,000 after buying an additional 68 shares in the last quarter. V Square Quantitative Management LLC grew its position in Simon Property Group by 46.1% during the third quarter. V Square Quantitative Management LLC now owns 2,109 shares of the real estate investment trust's stock worth $356,000 after buying an additional 665 shares in the last quarter. Finally, Blue Trust Inc. grew its position in Simon Property Group by 213.4% during the third quarter. Blue Trust Inc. now owns 4,338 shares of the real estate investment trust's stock worth $733,000 after buying an additional 2,954 shares in the last quarter. 93.01% of the stock is owned by institutional investors and hedge funds.

Simon Property Group Company Profile

(Get Free Report)

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.

Further Reading

Should You Invest $1,000 in Simon Property Group Right Now?

Before you consider Simon Property Group, you'll want to hear this.

MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and Simon Property Group wasn't on the list.

While Simon Property Group currently has a "Hold" rating among analysts, top-rated analysts believe these five stocks are better buys.

View The Five Stocks Here

20 High-Yield Dividend Stocks that Could Ruin Your Retirement Cover

Almost everyone loves strong dividend-paying stocks, but high yields can signal danger. Discover 20 high-yield dividend stocks paying an unsustainably large percentage of their earnings. Enter your email to get this report and avoid a high-yield dividend trap.

Get This Free Report
Like this article? Share it with a colleague.

Featured Articles and Offers

Recent Videos

NVIDIA Earnings: Will it Spark a Rally or Trigger a Sell-Off?
Marjorie Taylor Greene Bought THOUSANDS in Tesla Stock
The EXACT Date of Next Stock Market Crash

Stock Lists

All Stock Lists

Investing Tools

Calendars and Tools

Search Headlines