Simon Property Group, Inc. (NYSE:SPG - Get Free Report)'s stock price reached a new 52-week low during trading on Monday . The company traded as low as $138.11 and last traded at $141.69, with a volume of 1084219 shares traded. The stock had previously closed at $146.05.
Wall Street Analysts Forecast Growth
Several equities analysts have weighed in on the company. Scotiabank set a $186.00 price target on Simon Property Group in a report on Friday, February 28th. Jefferies Financial Group raised shares of Simon Property Group from a "hold" rating to a "buy" rating and upped their price target for the company from $179.00 to $198.00 in a research note on Thursday, January 2nd. StockNews.com cut shares of Simon Property Group from a "buy" rating to a "hold" rating in a research note on Saturday, March 29th. Piper Sandler upgraded shares of 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. Finally, Deutsche Bank Aktiengesellschaft initiated coverage on Simon Property Group in a research report on Tuesday, December 17th. They issued a "hold" rating and a $195.00 price target for the company. Five investment analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. Based on data from MarketBeat, the company has an average rating of "Moderate Buy" and a consensus price target of $181.39.
View Our Latest Analysis on Simon Property Group
Simon Property Group Stock Performance
The company has a current ratio of 1.28, a quick ratio of 2.00 and a debt-to-equity ratio of 7.19. The company has a market capitalization of $48.28 billion, a PE ratio of 20.38, a PEG ratio of 10.10 and a beta of 1.45. The firm's 50-day simple moving average is $170.08 and its 200-day simple moving average is $173.25.
Simon Property Group (NYSE:SPG - Get Free Report) last posted its quarterly earnings results on Tuesday, February 4th. The real estate investment trust reported $3.68 earnings per share (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, research analysts predict that Simon Property Group, Inc. will post 12.54 earnings per share for the current year.
Simon Property Group Dividend Announcement
The firm also recently disclosed a quarterly dividend, which was paid on Monday, March 31st. Investors of record on Monday, March 10th were issued a dividend of $2.10 per share. This represents a $8.40 annualized dividend and a yield of 5.68%. The ex-dividend date was Monday, March 10th. Simon Property Group's payout ratio is 115.70%.
Institutional Trading of Simon Property Group
Hedge funds have recently bought and sold shares of the stock. Norges Bank purchased a new stake in shares of Simon Property Group during the 4th quarter worth $2,059,505,000. Geode Capital Management LLC lifted its position in shares of Simon Property Group by 2.6% during the fourth quarter. Geode Capital Management LLC now owns 9,160,242 shares of the real estate investment trust's stock valued at $1,577,600,000 after buying an additional 230,982 shares during the last quarter. Northern Trust Corp boosted its holdings in shares of Simon Property Group by 45.9% in the 4th quarter. Northern Trust Corp now owns 5,462,856 shares of the real estate investment trust's stock valued at $940,758,000 after buying an additional 1,718,398 shares in the last quarter. JPMorgan Chase & Co. boosted its stake in Simon Property Group by 5.5% in the fourth quarter. JPMorgan Chase & Co. now owns 4,710,538 shares of the real estate investment trust's stock valued at $811,202,000 after acquiring an additional 246,630 shares in the last quarter. Finally, Invesco Ltd. grew its holdings in Simon Property Group by 14.8% in the fourth quarter. Invesco Ltd. now owns 4,216,575 shares of the real estate investment trust's stock worth $726,136,000 after purchasing an additional 542,511 shares during the last quarter. Hedge funds and other institutional investors own 93.01% of the company's stock.
About Simon Property Group
(
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.
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