Simon Property Group (NYSE:SPG) Price Target Raised to $180.00 at Stifel Nicolaus

Simon Property Group (NYSE:SPG) had its price target hoisted by Stifel Nicolaus from $168.50 to $180.00 in a report released on Tuesday,Benzinga reports. The brokerage currently has a buy rating on the real estate investment trust’s stock.

A number of other equities analysts have also recently issued reports on SPG. Scotiabank lowered their price objective on shares of Simon Property Group from $186.00 to $159.00 and set a “sector perform” rating for the company in a research report on Wednesday, April 23rd. Piper Sandler raised shares of Simon Property Group from a “neutral” rating to an “overweight” rating and upped their price objective for the company from $175.00 to $205.00 in a research note on Wednesday, February 5th. Finally, StockNews.com lowered shares of Simon Property Group from a “buy” rating to a “hold” rating in a research note on Saturday, March 29th. Five equities research analysts have rated the stock with a hold rating and five have given a buy rating to the stock. According to MarketBeat, Simon Property Group currently has an average rating of “Moderate Buy” and a consensus target price of $179.67.

Simon Property Group Trading Up 1.1%

Shares of Simon Property Group stock opened at $162.90 on Tuesday. The business has a fifty day simple moving average of $158.06 and a two-hundred day simple moving average of $170.94. Simon Property Group has a 1 year low of $136.34 and a 1 year high of $190.14. The company has a market capitalization of $53.15 billion, a price-to-earnings ratio of 22.44, a P/E/G ratio of 10.10 and a beta of 1.43. The company has a debt-to-equity ratio of 7.19, a current ratio of 1.28 and a quick ratio of 2.00.

Simon Property Group (NYSE:SPG) last posted its quarterly earnings data on Monday, May 12th. The real estate investment trust reported $2.95 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.91 by $0.04. The firm had revenue of $1.47 billion during the quarter, compared to the consensus estimate of $1.34 billion. Simon Property Group had a net margin of 41.49% and a return on equity of 74.02%. The business’s revenue for the quarter was up 2.1% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $3.56 EPS. Research analysts forecast that Simon Property Group will post 12.54 EPS for the current year.

Simon Property Group Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Monday, June 30th. Stockholders of record on Monday, June 9th will be issued a $2.10 dividend. The ex-dividend date is Monday, June 9th. This represents a $8.40 annualized dividend and a dividend yield of 5.16%. Simon Property Group’s dividend payout ratio is currently 115.70%.

Institutional Trading of Simon Property Group

Several institutional investors and hedge funds have recently made changes to their positions in the company. Harbor Capital Advisors Inc. raised its position in Simon Property Group by 2.5% in the fourth quarter. Harbor Capital Advisors Inc. now owns 6,343 shares of the real estate investment trust’s stock worth $1,092,000 after acquiring an additional 154 shares during the period. Czech National Bank raised its position in Simon Property Group by 6.5% in the fourth quarter. Czech National Bank now owns 66,498 shares of the real estate investment trust’s stock worth $11,452,000 after acquiring an additional 4,067 shares during the period. Brookstone Capital Management raised its position in Simon Property Group by 2.6% in the fourth quarter. Brookstone Capital Management now owns 21,728 shares of the real estate investment trust’s stock worth $3,742,000 after acquiring an additional 558 shares during the period. Wedmont Private Capital raised its position in Simon Property Group by 3.3% in the fourth quarter. Wedmont Private Capital now owns 6,727 shares of the real estate investment trust’s stock worth $1,150,000 after acquiring an additional 216 shares during the period. Finally, Miracle Mile Advisors LLC raised its position in Simon Property Group by 77.3% in the fourth quarter. Miracle Mile Advisors LLC now owns 16,230 shares of the real estate investment trust’s stock worth $2,795,000 after acquiring an additional 7,075 shares during the period. Hedge funds and other institutional investors own 93.01% of the company’s stock.

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.