Simon Property Group (NYSE:SPG) Now Covered by Deutsche Bank Aktiengesellschaft

Deutsche Bank Aktiengesellschaft began coverage on shares of Simon Property Group (NYSE:SPG) in a report published on Tuesday, Marketbeat.com reports. The firm issued a hold rating and a $195.00 price objective on the real estate investment trust’s stock.

Several other analysts also recently weighed in on the company. StockNews.com downgraded Simon Property Group from a “buy” rating to a “hold” rating in a research report on Thursday, October 10th. Evercore ISI raised Simon Property Group from an “in-line” rating to an “outperform” rating and increased their price target for the company from $160.00 to $172.00 in a research note on Monday, September 16th. Scotiabank raised their target price on Simon Property Group from $152.00 to $169.00 and gave the stock a “sector perform” rating in a research note on Monday, August 26th. Stifel Nicolaus reaffirmed a “hold” rating and set a $159.00 target price (up previously from $157.50) on shares of Simon Property Group in a research note on Thursday, September 12th. Finally, Truist Financial increased their price target on Simon Property Group from $147.00 to $158.00 and gave the stock a “hold” rating in a report on Wednesday, August 28th. Eight analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and an average price target of $168.40.

Simon Property Group Stock Performance

SPG opened at $179.98 on Tuesday. The business has a fifty day simple moving average of $177.20 and a 200 day simple moving average of $164.23. The company has a market capitalization of $58.72 billion, a PE ratio of 23.97, a price-to-earnings-growth ratio of 10.50 and a beta of 1.75. The company has a debt-to-equity ratio of 8.20, a current ratio of 2.00 and a quick ratio of 2.00. Simon Property Group has a 1 year low of $135.15 and a 1 year high of $186.00.

Simon Property Group (NYSE:SPG) last released its earnings results on Friday, November 1st. The real estate investment trust reported $1.46 earnings per share for the quarter, missing analysts’ consensus estimates of $3.00 by ($1.54). Simon Property Group had a net margin of 43.36% and a return on equity of 76.21%. The company had revenue of $1.48 billion for the quarter, compared to the consensus estimate of $1.32 billion. During the same quarter in the previous year, the company posted $3.20 earnings per share. The business’s revenue was up 4.9% compared to the same quarter last year. Research analysts expect that Simon Property Group will post 12.76 EPS for the current year.

Simon Property Group Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, December 30th. Investors of record on Monday, December 9th will be given a dividend of $2.10 per share. This represents a $8.40 dividend on an annualized basis and a dividend yield of 4.67%. This is an increase from Simon Property Group’s previous quarterly dividend of $2.05. The ex-dividend date is Monday, December 9th. Simon Property Group’s dividend payout ratio (DPR) is presently 111.85%.

Insider Activity at Simon Property Group

In other news, Director Allan B. Hubbard bought 370 shares of the firm’s stock in a transaction on Monday, September 30th. The stock was acquired at an average cost of $167.30 per share, with a total value of $61,901.00. Following the completion of the transaction, the director now directly owns 34,301 shares of the company’s stock, valued at $5,738,557.30. This represents a 1.09 % increase in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. 8.50% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Simon Property Group

Hedge funds have recently made changes to their positions in the stock. Oddo BHF Asset Management Sas bought a new stake in Simon Property Group during the third quarter valued at $1,144,000. Inspire Trust Co. N.A. increased its holdings in Simon Property Group by 8.7% during the 3rd quarter. Inspire Trust Co. N.A. now owns 12,500 shares of the real estate investment trust’s stock valued at $2,113,000 after purchasing an additional 1,000 shares during the period. Synovus Financial Corp increased its holdings in Simon Property Group by 50.7% during the 3rd quarter. Synovus Financial Corp now owns 2,607 shares of the real estate investment trust’s stock valued at $440,000 after purchasing an additional 877 shares during the period. Blankinship & Foster LLC purchased a new position in Simon Property Group during the 3rd quarter valued at about $608,000. Finally, Wilmington Savings Fund Society FSB purchased a new position in shares of Simon Property Group during the 3rd quarter worth approximately $834,000. 93.01% of the stock is currently owned by hedge funds and other institutional investors.

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.