Simon Property Group, Inc. (NYSE:SPG) Receives Consensus Rating of “Hold” from Analysts

Shares of Simon Property Group, Inc. (NYSE:SPG) have received an average rating of “Hold” from the ten brokerages that are presently covering the company, Marketbeat.com reports. Seven research analysts have rated the stock with a hold rating and three have given a buy rating to the company. The average 1 year target price among analysts that have issued ratings on the stock in the last year is $172.10.

A number of analysts have weighed in on the stock. Deutsche Bank Aktiengesellschaft started coverage on shares of Simon Property Group in a research report on Tuesday, December 17th. They set a “hold” rating and a $195.00 target price for the company. Evercore ISI upgraded shares of Simon Property Group from an “in-line” rating to an “outperform” rating and increased their price objective for the stock from $160.00 to $172.00 in a research report on Monday, September 16th. Jefferies Financial Group upgraded shares of Simon Property Group from a “hold” rating to a “buy” rating and boosted their target price for the company from $179.00 to $198.00 in a report on Thursday, January 2nd. Stifel Nicolaus reiterated a “hold” rating and set a $159.00 price target (up from $157.50) on shares of Simon Property Group in a report on Thursday, September 12th. Finally, Mizuho lifted their price objective on Simon Property Group from $158.00 to $182.00 and gave the stock a “neutral” rating in a research report on Wednesday, December 4th.

Insider Buying and Selling at Simon Property Group

In other Simon Property Group news, Director Reuben S. Leibowitz bought 465 shares of the firm’s stock in a transaction dated Monday, December 30th. The stock was bought at an average cost 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 in the company, 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 SEC, which can be accessed through this link. Insiders own 8.50% of the company’s stock.

Hedge Funds Weigh In On Simon Property Group

Large investors have recently added to or reduced their stakes in the business. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its stake in shares of Simon Property Group by 617.5% in the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 3,191,296 shares of the real estate investment trust’s stock worth $539,393,000 after acquiring an additional 2,746,503 shares in the last quarter. Smead Capital Management Inc. grew its position in Simon Property Group by 3.5% in the 3rd quarter. Smead Capital Management Inc. now owns 2,620,355 shares of the real estate investment trust’s stock worth $442,892,000 after purchasing an additional 88,378 shares in the last quarter. Sumitomo Mitsui Trust Group Inc. increased its stake in Simon Property Group by 1.7% in the 3rd quarter. Sumitomo Mitsui Trust Group Inc. now owns 1,487,897 shares of the real estate investment trust’s stock valued at $251,484,000 after buying an additional 25,519 shares during the last quarter. Los Angeles Capital Management LLC increased its stake in Simon Property Group by 373.6% in the 3rd quarter. Los Angeles Capital Management LLC now owns 1,259,648 shares of the real estate investment trust’s stock valued at $212,906,000 after buying an additional 993,694 shares during the last quarter. Finally, Duff & Phelps Investment Management Co. lifted its position in shares of Simon Property Group by 6.9% during the 3rd quarter. Duff & Phelps Investment Management Co. now owns 1,142,010 shares of the real estate investment trust’s stock worth $193,023,000 after buying an additional 73,742 shares in the last quarter. Institutional investors own 93.01% of the company’s stock.

Simon Property Group Trading Up 0.4 %

SPG opened at $174.78 on Thursday. 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 fifty-two week low of $135.15 and a fifty-two week high of $186.00. The company’s 50 day moving average price is $177.20 and its two-hundred day moving average price is $166.65. The firm has a market capitalization of $57.03 billion, a price-to-earnings ratio of 23.27, a PEG ratio of 10.50 and a beta of 1.75.

Simon Property Group (NYSE:SPG) last issued its quarterly earnings data on Friday, November 1st. The real estate investment trust reported $1.46 earnings per share for the quarter, missing the consensus estimate of $3.00 by ($1.54). The business had revenue of $1.48 billion during the quarter, compared to the consensus estimate of $1.32 billion. Simon Property Group had a return on equity of 76.21% and a net margin of 43.36%. The business’s revenue for the quarter was up 4.9% compared to the same quarter last year. During the same period in the prior year, the firm earned $3.20 EPS. As a group, research analysts predict that Simon Property Group will post 12.76 earnings per share for the current year.

Simon Property Group Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, December 30th. Shareholders of record on Monday, December 9th were issued a $2.10 dividend. The ex-dividend date of this dividend was Monday, December 9th. This represents a $8.40 annualized dividend and a yield of 4.81%. This is a positive change from Simon Property Group’s previous quarterly dividend of $2.05. Simon Property Group’s dividend payout ratio is presently 111.85%.

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.