Simon Property Group, Inc. (NYSE:SPG) Receives Average Rating of “Moderate Buy” from Analysts

Simon Property Group, Inc. (NYSE:SPG) has earned a consensus rating of “Moderate Buy” from the ten ratings firms that are presently covering the stock, Marketbeat Ratings reports. Five equities research analysts have rated the stock with a hold rating and five have given a buy rating to the company. The average 12 month price objective among analysts that have issued ratings on the stock in the last year is $147.60.

A number of equities research analysts have recently issued reports on the company. Truist Financial upped their price target on Simon Property Group from $139.00 to $147.00 and gave the company a “hold” rating in a research report on Friday, March 22nd. Argus raised their target price on Simon Property Group from $157.00 to $168.00 and gave the stock a “buy” rating in a research note on Tuesday, June 11th. StockNews.com raised shares of Simon Property Group from a “hold” rating to a “buy” rating in a research report on Thursday, April 18th. Finally, Scotiabank raised their price objective on shares of Simon Property Group from $142.00 to $152.00 and gave the stock a “sector perform” rating in a research report on Thursday, May 16th.

Institutional Investors Weigh In On Simon Property Group

Institutional investors have recently modified their holdings of the company. TIAA Trust National Association boosted its holdings in Simon Property Group by 3.7% during the 1st quarter. TIAA Trust National Association now owns 1,913 shares of the real estate investment trust’s stock valued at $299,000 after acquiring an additional 69 shares during the period. Inspire Advisors LLC boosted its stake in shares of Simon Property Group by 1.7% in the first quarter. Inspire Advisors LLC now owns 4,126 shares of the real estate investment trust’s stock valued at $646,000 after purchasing an additional 70 shares during the period. Coldstream Capital Management Inc. grew its holdings in shares of Simon Property Group by 1.5% in the fourth quarter. Coldstream Capital Management Inc. now owns 5,192 shares of the real estate investment trust’s stock valued at $741,000 after purchasing an additional 77 shares in the last quarter. Bleakley Financial Group LLC increased its stake in Simon Property Group by 1.3% during the 1st quarter. Bleakley Financial Group LLC now owns 6,033 shares of the real estate investment trust’s stock worth $944,000 after buying an additional 78 shares during the period. Finally, Cascade Investment Group Inc. lifted its holdings in Simon Property Group by 0.5% during the 4th quarter. Cascade Investment Group Inc. now owns 14,701 shares of the real estate investment trust’s stock worth $2,097,000 after buying an additional 80 shares in the last quarter. 93.01% of the stock is owned by institutional investors and hedge funds.

Simon Property Group Stock Up 1.3 %

NYSE SPG opened at $151.80 on Friday. Simon Property Group has a one year low of $102.11 and a one year high of $157.82. The company has a debt-to-equity ratio of 7.20, a quick ratio of 2.19 and a current ratio of 2.19. The business has a fifty day moving average price of $147.63 and a 200 day moving average price of $146.72. The company has a market cap of $49.48 billion, a P/E ratio of 19.34, a P/E/G ratio of 9.02 and a beta of 1.71.

Simon Property Group (NYSE:SPG) last posted its quarterly earnings results on Monday, May 6th. The real estate investment trust reported $2.25 earnings per share for the quarter, missing the consensus estimate of $2.80 by ($0.55). Simon Property Group had a return on equity of 78.50% and a net margin of 46.49%. The business had revenue of $1.44 billion during the quarter, compared to analysts’ expectations of $1.31 billion. During the same period in the prior year, the business posted $2.74 earnings per share. The business’s quarterly revenue was up 6.8% on a year-over-year basis. Research analysts anticipate that Simon Property Group will post 12.84 EPS for the current fiscal year.

Simon Property Group Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, June 28th. Shareholders of record on Friday, June 7th were given a $2.00 dividend. This is a positive change from Simon Property Group’s previous quarterly dividend of $1.95. The ex-dividend date was Friday, June 7th. This represents a $8.00 dividend on an annualized basis and a yield of 5.27%. Simon Property Group’s payout ratio is presently 101.91%.

About Simon Property Group

Simon is a real estate investment trust engaged in the ownership of premier shopping, dining, entertainment and mixed-use destinations and an S&P 100 company (Simon Property Group, NYSE: SPG). Our properties across North America, Europe and Asia provide community gathering places for millions of people every day and generate billions in annual sales.