Simon Property Group (NYSE:SPG) Upgraded at StockNews.com

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

Other research analysts have also recently issued research reports about the stock. Jefferies Financial Group raised shares of Simon Property Group from a “hold” rating to a “buy” rating and upped their price target for the stock from $179.00 to $198.00 in a report on Thursday, January 2nd. Mizuho increased their target price on Simon Property Group from $158.00 to $182.00 and gave the company a “neutral” rating in a research note on Wednesday, December 4th. Piper Sandler upgraded shares of Simon Property Group from a “neutral” rating to an “overweight” rating and upped their price target for the company from $175.00 to $205.00 in a research report on Wednesday, February 5th. Scotiabank set a $186.00 price target on shares of Simon Property Group in a research report on Friday, February 28th. Finally, Deutsche Bank Aktiengesellschaft started coverage on shares of Simon Property Group in a report on Tuesday, December 17th. They set a “hold” rating and a $195.00 target price for the company. Five analysts have rated the stock with a hold rating and five have given a buy rating to the stock. Based on data from MarketBeat, Simon Property Group currently has a consensus rating of “Moderate Buy” and a consensus price target of $180.33.

Simon Property Group Stock Down 1.4 %

Shares of NYSE:SPG opened at $162.12 on Friday. The firm has a market cap of $52.90 billion, a P/E ratio of 22.33, a P/E/G ratio of 10.10 and a beta of 1.78. The company has a quick ratio of 2.00, a current ratio of 1.28 and a debt-to-equity ratio of 7.19. Simon Property Group has a 12-month low of $139.25 and a 12-month high of $190.14. The business has a fifty day simple moving average of $176.11 and a 200 day simple moving average of $174.43.

Simon Property Group (NYSE:SPG) last issued its earnings results 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 return on equity of 74.02% and a net margin of 41.49%. Analysts predict that Simon Property Group will post 12.54 earnings per share for the current year.

Simon Property Group Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Monday, March 31st. Shareholders of record on Monday, March 10th will be paid a $2.10 dividend. The ex-dividend date is Monday, March 10th. This represents a $8.40 dividend on an annualized basis and a yield of 5.18%. Simon Property Group’s dividend payout ratio is currently 115.70%.

Insider Activity

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 stock was bought at an average price 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 of the company’s stock, valued at approximately $9,427,384.21. The trade was a 0.84 % increase in their position. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Insiders own 8.60% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors have recently made changes to their positions in the business. Hopwood Financial Services Inc. acquired a new position in Simon Property Group during the fourth quarter worth about $28,000. WR Wealth Planners LLC raised its stake in shares of 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 acquiring an additional 128 shares during the period. New England Capital Financial Advisors LLC purchased a new stake in shares of Simon Property Group in the 4th quarter valued at approximately $30,000. Caisse Des Depots ET Consignations purchased a new stake in shares of Simon Property Group in the 4th quarter valued at approximately $31,000. Finally, TCTC Holdings LLC acquired a new position in shares of Simon Property Group in the fourth quarter valued at approximately $34,000. Hedge funds and other institutional investors own 93.01% of the company’s stock.

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.