Simon Property Group (NYSE:SPG) Raised to Buy at StockNews.com

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

Several other brokerages also recently commented on SPG. Mizuho raised their target price on shares of Simon Property Group from $158.00 to $182.00 and gave the stock a "neutral" rating in a report on Wednesday, December 4th. Scotiabank set a $186.00 price objective on shares of Simon Property Group in a research report on Friday, February 28th. Deutsche Bank Aktiengesellschaft assumed 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 on the stock. Piper Sandler upgraded Simon Property Group from a "neutral" rating to an "overweight" rating and increased their target price for the stock from $175.00 to $205.00 in a report on Wednesday, February 5th. Finally, Jefferies Financial Group raised Simon Property Group from a "hold" rating to a "buy" rating and lifted their price target for the company from $179.00 to $198.00 in a research note on Thursday, January 2nd. Five equities research analysts have rated the stock with a hold rating and five have given a buy rating to the stock. According to data from MarketBeat.com, Simon Property Group presently has an average rating of "Moderate Buy" and an average target price of $180.33.

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Simon Property Group Trading Down 0.1 %

SPG traded down $0.21 during mid-day trading on Friday, hitting $165.91. The stock had a trading volume of 1,661,777 shares, compared to its average volume of 1,342,980. Simon Property Group has a 1-year low of $139.25 and a 1-year high of $190.14. The firm has a market capitalization of $54.13 billion, a price-to-earnings ratio of 22.85, a price-to-earnings-growth ratio of 10.10 and a beta of 1.78. 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 stock's fifty day simple moving average is $175.83 and its 200-day simple moving average is $174.46.

Simon Property Group (NYSE:SPG - Get Free Report) last posted 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 return on equity of 74.02% and a net margin of 41.49%. As a group, research analysts forecast that Simon Property Group will post 12.54 EPS for the current fiscal year.

Simon Property Group Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Monday, March 31st. Investors of record on Monday, March 10th will be issued a dividend of $2.10 per share. The ex-dividend date is Monday, March 10th. This represents a $8.40 annualized dividend and a yield of 5.06%. Simon Property Group's payout ratio is presently 115.70%.

Insider Activity at Simon Property Group

In related news, Director Reuben S. Leibowitz acquired 465 shares of the company's stock in a transaction dated Monday, December 30th. The shares were bought at an average price of $168.59 per share, for a total transaction of $78,394.35. Following the purchase, the director now directly owns 55,919 shares in the company, valued at approximately $9,427,384.21. This trade represents a 0.84 % increase in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Insiders own 8.50% of the company's stock.

Hedge Funds Weigh In On Simon Property Group

A number of institutional investors have recently added to or reduced their stakes in the company. Hopwood Financial Services Inc. bought a new position in shares of Simon Property Group in the 4th quarter valued at about $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 valued at $29,000 after purchasing an additional 128 shares during the last quarter. New England Capital Financial Advisors LLC bought a new position in Simon Property Group during the fourth quarter worth about $30,000. Caisse Des Depots ET Consignations bought a new position in Simon Property Group during the fourth quarter worth about $31,000. Finally, TCTC Holdings LLC acquired a new position in Simon Property Group during the fourth quarter worth approximately $34,000. 93.01% of the stock is currently owned by institutional investors and hedge funds.

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.