Simon Property Group (NYSE:SPG) Sets New 12-Month Low – Time to Sell?

Shares of Simon Property Group, Inc. (NYSE:SPG) reached a new 52-week low on Monday . The stock traded as low as $138.11 and last traded at $141.69, with a volume of 1084219 shares. The stock had previously closed at $146.05.

Analysts Set New Price Targets

A number of research analysts have recently issued reports on the company. StockNews.com downgraded Simon Property Group from a “buy” rating to a “hold” rating in a report on Saturday, March 29th. Deutsche Bank Aktiengesellschaft began coverage on shares of Simon Property Group in a report on Tuesday, December 17th. They set a “hold” rating and a $195.00 price target on the stock. Jefferies Financial Group raised shares of Simon Property Group from a “hold” rating to a “buy” rating and boosted their price objective for the company from $179.00 to $198.00 in a report on Thursday, January 2nd. Scotiabank set a $186.00 price objective on shares of Simon Property Group in a research report on Friday, February 28th. Finally, Piper Sandler raised shares of Simon Property Group from a “neutral” rating to an “overweight” rating and lifted their target price for the stock from $175.00 to $205.00 in a research report on Wednesday, February 5th. Six analysts have rated the stock with a hold rating and four have issued a buy rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average price target of $180.33.

Simon Property Group Trading Down 2.0 %

The stock has a 50-day moving average price of $173.36 and a two-hundred day moving average price of $174.23. The stock has a market capitalization of $46.72 billion, a PE ratio of 19.72, a PEG ratio of 10.10 and a beta of 1.45. The company has a debt-to-equity ratio of 7.19, a quick ratio of 2.00 and a current ratio of 1.28.

Simon Property Group (NYSE:SPG) last released its earnings results on Tuesday, February 4th. The real estate investment trust reported $3.68 earnings per share for the quarter, beating analysts’ consensus estimates of $1.98 by $1.70. Simon Property Group had a net margin of 41.49% and a return on equity of 74.02%. As a group, equities analysts forecast that Simon Property Group, Inc. will post 12.54 earnings per share for the current year.

Simon Property Group Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, March 31st. Shareholders of record on Monday, March 10th were paid a $2.10 dividend. This represents a $8.40 dividend on an annualized basis and a yield of 5.87%. The ex-dividend date was Monday, March 10th. Simon Property Group’s payout ratio is 115.70%.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently modified their holdings of the company. Pitcairn Co. grew its stake in shares of Simon Property Group by 0.6% in the 4th quarter. Pitcairn Co. now owns 9,895 shares of the real estate investment trust’s stock worth $1,704,000 after buying an additional 55 shares in the last quarter. Colonial Trust Co SC grew its position in Simon Property Group by 37.5% in the fourth quarter. Colonial Trust Co SC now owns 209 shares of the real estate investment trust’s stock worth $36,000 after acquiring an additional 57 shares in the last quarter. Childress Capital Advisors LLC increased its stake in Simon Property Group by 3.6% during the fourth quarter. Childress Capital Advisors LLC now owns 1,689 shares of the real estate investment trust’s stock worth $291,000 after acquiring an additional 58 shares during the last quarter. Global X Japan Co. Ltd. raised its position in Simon Property Group by 9.9% during the fourth quarter. Global X Japan Co. Ltd. now owns 655 shares of the real estate investment trust’s stock valued at $113,000 after purchasing an additional 59 shares during the period. Finally, HighPoint Advisor Group LLC lifted its stake in shares of Simon Property Group by 1.8% in the 4th quarter. HighPoint Advisor Group LLC now owns 3,396 shares of the real estate investment trust’s stock valued at $626,000 after purchasing an additional 60 shares during the last quarter. 93.01% of the stock is currently owned by institutional investors.

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.