Simon Property Group, Inc. (NYSE:SPG) Receives $179.67 Average Price Target from Analysts

Simon Property Group, Inc. (NYSE:SPG) has been given an average recommendation of “Moderate Buy” by the nine ratings firms that are covering the stock, MarketBeat.com reports. Four investment analysts have rated the stock with a hold rating and five have issued a buy rating on the company. The average 1-year target price among brokers that have updated their coverage on the stock in the last year is $179.67.

Several equities research analysts have recently commented on SPG shares. Piper Sandler upgraded shares of Simon Property Group from a “neutral” rating to an “overweight” rating and lifted their price objective for the stock from $175.00 to $205.00 in a research note on Wednesday, February 5th. Stifel Nicolaus raised their target price on shares of Simon Property Group from $168.50 to $180.00 and gave the stock a “buy” rating in a report on Tuesday, May 13th. Scotiabank reduced their target price on shares of Simon Property Group from $186.00 to $159.00 and set a “sector perform” rating for the company in a report on Wednesday, April 23rd. Finally, StockNews.com cut shares of Simon Property Group from a “buy” rating to a “hold” rating in a report on Saturday, March 29th.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Asset Management One Co. Ltd. increased its holdings in Simon Property Group by 0.7% in the fourth quarter. Asset Management One Co. Ltd. now owns 587,933 shares of the real estate investment trust’s stock valued at $101,130,000 after buying an additional 3,990 shares in the last quarter. Merit Financial Group LLC purchased a new position in Simon Property Group in the fourth quarter valued at $416,000. SG Americas Securities LLC increased its holdings in Simon Property Group by 48.0% in the fourth quarter. SG Americas Securities LLC now owns 7,151 shares of the real estate investment trust’s stock valued at $1,231,000 after buying an additional 2,320 shares in the last quarter. Vert Asset Management LLC increased its holdings in Simon Property Group by 3.1% in the fourth quarter. Vert Asset Management LLC now owns 125,398 shares of the real estate investment trust’s stock valued at $21,595,000 after buying an additional 3,783 shares in the last quarter. Finally, TTP Investments Inc. increased its holdings in Simon Property Group by 67.4% in the fourth quarter. TTP Investments Inc. now owns 57,399 shares of the real estate investment trust’s stock valued at $9,885,000 after buying an additional 23,109 shares in the last quarter. Hedge funds and other institutional investors own 93.01% of the company’s stock.

Simon Property Group Trading Up 1.3%

NYSE:SPG opened at $165.15 on Wednesday. Simon Property Group has a 12 month low of $136.34 and a 12 month high of $190.14. The firm has a fifty day simple moving average of $158.09 and a 200-day simple moving average of $170.89. 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 $53.91 billion, a P/E ratio of 22.75, a PEG ratio of 10.10 and a beta of 1.43.

Simon Property Group (NYSE:SPG) last posted its quarterly earnings data on Monday, May 12th. The real estate investment trust reported $2.95 EPS for the quarter, topping the consensus estimate of $2.91 by $0.04. Simon Property Group had a net margin of 41.49% and a return on equity of 74.02%. The business had revenue of $1.47 billion during the quarter, compared to the consensus estimate of $1.34 billion. During the same period in the previous year, the firm posted $3.56 earnings per share. The business’s revenue for the quarter was up 2.1% compared to the same quarter last year. On average, equities research analysts anticipate that Simon Property Group 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 will be paid on Monday, June 30th. Shareholders of record on Monday, June 9th will be issued a $2.10 dividend. The ex-dividend date of this dividend is Monday, June 9th. This represents a $8.40 dividend on an annualized basis and a yield of 5.09%. Simon Property Group’s payout ratio is 133.76%.

Simon Property Group Company Profile

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.