Simon Property Group, Inc. (NYSE:SPG) Given Consensus Recommendation of “Moderate Buy” by Brokerages

Simon Property Group, Inc. (NYSE:SPG) has been assigned an average recommendation of “Moderate Buy” from the ten ratings firms that are covering the firm, Marketbeat Ratings reports. Five analysts have rated the stock with a hold recommendation and five have given a buy recommendation to the company. The average twelve-month price target among brokers that have issued ratings on the stock in the last year is $147.60.

Several research analysts have recently commented on SPG shares. Morgan Stanley lifted their target price on Simon Property Group from $143.00 to $145.00 and gave the stock an “equal weight” rating in a research report on Monday, February 26th. Evercore ISI lifted their target price on Simon Property Group from $142.00 to $150.00 and gave the stock an “in-line” rating in a research report on Wednesday, February 28th. Truist Financial raised their price target on Simon Property Group from $139.00 to $147.00 and gave the stock a “hold” rating in a report on Friday, March 22nd. Scotiabank increased their target price on 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. Finally, StockNews.com raised Simon Property Group from a “hold” rating to a “buy” rating in a research report on Thursday, April 18th.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently modified their holdings of the business. Vanguard Group Inc. grew its stake in shares of Simon Property Group by 1.5% in the first quarter. Vanguard Group Inc. now owns 46,380,446 shares of the real estate investment trust’s stock worth $7,258,076,000 after purchasing an additional 672,941 shares in the last quarter. Norges Bank bought a new position in shares of Simon Property Group in the fourth quarter worth $2,561,181,000. Charles Schwab Investment Management Inc. boosted its stake in Simon Property Group by 2.1% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 3,537,655 shares of the real estate investment trust’s stock valued at $504,611,000 after buying an additional 72,645 shares in the last quarter. Boston Partners boosted its stake in Simon Property Group by 4.2% during the first quarter. Boston Partners now owns 2,321,228 shares of the real estate investment trust’s stock valued at $363,165,000 after buying an additional 92,648 shares in the last quarter. Finally, Royal Bank of Canada boosted its stake in Simon Property Group by 5.9% during the third quarter. Royal Bank of Canada now owns 1,887,122 shares of the real estate investment trust’s stock valued at $203,866,000 after buying an additional 105,606 shares in the last quarter. Institutional investors own 93.01% of the company’s stock.

Simon Property Group Price Performance

SPG stock opened at $146.16 on Friday. The company has a debt-to-equity ratio of 7.20, a quick ratio of 2.19 and a current ratio of 2.19. Simon Property Group has a 1 year low of $102.11 and a 1 year high of $157.82. The firm has a market cap of $47.64 billion, a P/E ratio of 18.62, a price-to-earnings-growth ratio of 8.70 and a beta of 1.71. The stock has a 50-day simple moving average of $146.77 and a 200-day simple moving average of $146.14.

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

Simon Property Group Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, June 28th. Stockholders of record on Friday, June 7th will be paid a $2.00 dividend. This is a boost from Simon Property Group’s previous quarterly dividend of $1.95. The ex-dividend date is Friday, June 7th. This represents a $8.00 annualized dividend and a dividend yield of 5.47%. Simon Property Group’s dividend payout ratio is presently 101.91%.

Simon Property Group Company Profile

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.