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

Simon Property Group, Inc. (NYSE:SPG) has been given a consensus rating of “Hold” by the nine research firms that are covering the company, Marketbeat.com reports. Six research analysts have rated the stock with a hold rating and three have given a buy rating to the company. The average 12-month price target among brokerages that have issued ratings on the stock in the last year is $162.78.

Several research analysts have commented on SPG shares. Evercore ISI raised Simon Property Group from an “in-line” rating to an “outperform” rating and raised their price objective for the company from $160.00 to $172.00 in a research report on Monday, September 16th. Mizuho raised their price objective on Simon Property Group from $155.00 to $158.00 and gave the company a “neutral” rating in a research report on Monday, August 19th. Stifel Nicolaus reissued a “hold” rating and issued a $159.00 price objective (up from $157.50) on shares of Simon Property Group in a research report on Thursday, September 12th. Truist Financial raised their price objective on Simon Property Group from $147.00 to $158.00 and gave the company a “hold” rating in a research report on Wednesday, August 28th. Finally, StockNews.com lowered Simon Property Group from a “buy” rating to a “hold” rating in a research report on Thursday, October 10th.

Insider Activity at Simon Property Group

In other news, Director Allan B. Hubbard acquired 370 shares of the stock in a transaction that occurred on Monday, September 30th. The stock was purchased at an average cost of $167.30 per share, with a total value of $61,901.00. Following the completion of the acquisition, the director now directly owns 34,301 shares in the company, valued at $5,738,557.30. This represents a 0.00 % increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. 8.50% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Simon Property Group

A number of hedge funds and other institutional investors have recently bought and sold shares of SPG. International Assets Investment Management LLC boosted its stake in Simon Property Group by 18,764.1% in the third quarter. International Assets Investment Management LLC now owns 892,085 shares of the real estate investment trust’s stock valued at $150,780,000 after acquiring an additional 887,356 shares during the period. Vanguard Group Inc. boosted its stake in 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 valued at $7,258,076,000 after acquiring an additional 672,941 shares during the period. Strategic Financial Concepts LLC boosted its stake in Simon Property Group by 16,795.2% in the second quarter. Strategic Financial Concepts LLC now owns 424,070 shares of the real estate investment trust’s stock valued at $64,374,000 after acquiring an additional 421,560 shares during the period. Castle Hook Partners LP boosted its stake in Simon Property Group by 182.0% in the first quarter. Castle Hook Partners LP now owns 480,692 shares of the real estate investment trust’s stock valued at $75,223,000 after acquiring an additional 310,207 shares during the period. Finally, Los Angeles Capital Management LLC boosted its stake in Simon Property Group by 5,778.7% in the second quarter. Los Angeles Capital Management LLC now owns 265,954 shares of the real estate investment trust’s stock valued at $40,372,000 after acquiring an additional 261,430 shares during the period. 93.01% of the stock is currently owned by institutional investors and hedge funds.

Simon Property Group Trading Down 1.6 %

Shares of Simon Property Group stock opened at $170.54 on Friday. Simon Property Group has a fifty-two week low of $104.05 and a fifty-two week high of $177.08. The firm has a market cap of $55.59 billion, a PE ratio of 21.72, a P/E/G ratio of 9.58 and a beta of 1.74. The business’s fifty day moving average is $167.38 and its two-hundred day moving average is $155.27. The company has a quick ratio of 2.04, a current ratio of 2.04 and a debt-to-equity ratio of 7.53.

Simon Property Group (NYSE:SPG) last issued its quarterly earnings results on Monday, August 5th. The real estate investment trust reported $1.51 earnings per share for the quarter, missing analysts’ consensus estimates of $2.93 by ($1.42). The business had revenue of $1.32 billion for the quarter, compared to analysts’ expectations of $1.30 billion. Simon Property Group had a return on equity of 78.14% and a net margin of 45.90%. The company’s revenue for the quarter was up 4.8% compared to the same quarter last year. During the same period in the prior year, the company earned $2.88 EPS. Analysts anticipate that Simon Property Group will post 12.85 earnings per share for the current year.

Simon Property Group Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, September 30th. Stockholders of record on Monday, September 9th were given a dividend of $2.05 per share. This represents a $8.20 dividend on an annualized basis and a dividend yield of 4.81%. This is a positive change from Simon Property Group’s previous quarterly dividend of $2.00. The ex-dividend date of this dividend was Monday, September 9th. Simon Property Group’s payout ratio is presently 104.46%.

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.