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

Shares of Simon Property Group, Inc. (NYSE:SPG) have been given an average recommendation of “Hold” by the nine analysts that are presently covering the firm, MarketBeat reports. Five research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. The average 1-year target price among analysts that have covered the stock in the last year is $180.33.

Several equities research analysts recently weighed in on the company. Scotiabank set a $186.00 price target on Simon Property Group in a research report on Friday, February 28th. 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. StockNews.com raised shares of Simon Property Group from a “hold” rating to a “buy” rating in a research report on Friday. Mizuho upped their price objective on shares of Simon Property Group from $158.00 to $182.00 and gave the stock a “neutral” rating in a report on Wednesday, December 4th. Finally, Deutsche Bank Aktiengesellschaft assumed coverage on shares of Simon Property Group in a research note on Tuesday, December 17th. They set a “hold” rating and a $195.00 target price for the company.

Insiders Place Their Bets

In other Simon Property Group news, Director Reuben S. Leibowitz acquired 465 shares of the company’s stock in a transaction that occurred on Monday, December 30th. The shares were 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 of the company’s stock, valued at approximately $9,427,384.21. This represents a 0.84 % increase in their position. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Corporate insiders own 8.50% of the company’s stock.

Hedge Funds Weigh In On Simon Property Group

Several hedge funds and other institutional investors have recently bought and sold shares of the stock. Connor Clark & Lunn Investment Management Ltd. lifted its position in Simon Property Group by 126.2% during the third quarter. Connor Clark & Lunn Investment Management Ltd. now owns 9,279 shares of the real estate investment trust’s stock valued at $1,568,000 after purchasing an additional 5,177 shares during the period. Raymond James Trust N.A. lifted its holdings in shares of Simon Property Group by 1.6% during the 3rd quarter. Raymond James Trust N.A. now owns 6,996 shares of the real estate investment trust’s stock valued at $1,182,000 after buying an additional 110 shares during the period. Meridian Wealth Management LLC purchased a new position in shares of Simon Property Group in the 3rd quarter worth $378,000. Cerity Partners LLC grew its holdings in shares of Simon Property Group by 45.9% in the third quarter. Cerity Partners LLC now owns 47,364 shares of the real estate investment trust’s stock worth $8,006,000 after acquiring an additional 14,893 shares during the period. Finally, Algert Global LLC increased its position in Simon Property Group by 456.9% during the third quarter. Algert Global LLC now owns 15,621 shares of the real estate investment trust’s stock valued at $2,640,000 after acquiring an additional 12,816 shares during the last quarter. Institutional investors own 93.01% of the company’s stock.

Simon Property Group Stock Up 2.6 %

Shares of Simon Property Group stock opened at $166.36 on Tuesday. The company has a current ratio of 1.28, a quick ratio of 2.00 and a debt-to-equity ratio of 7.19. Simon Property Group has a 12-month low of $139.25 and a 12-month high of $190.14. The company has a market cap of $54.28 billion, a P/E ratio of 22.91, a PEG ratio of 10.10 and a beta of 1.78. The company’s fifty day simple moving average is $175.98 and its two-hundred day simple moving average is $174.45.

Simon Property Group (NYSE:SPG) last announced its quarterly earnings results on Tuesday, February 4th. The real estate investment trust reported $3.68 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.98 by $1.70. Simon Property Group had a net margin of 41.49% and a return on equity of 74.02%. Research analysts anticipate that Simon Property Group will post 12.54 EPS for the current year.

Simon Property Group Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, March 31st. Investors of record on Monday, March 10th will be given a $2.10 dividend. The ex-dividend date is Monday, March 10th. This represents a $8.40 annualized dividend and a yield of 5.05%. Simon Property Group’s dividend payout ratio (DPR) is presently 115.70%.

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.