Simon Property Group, Inc. (NYSE:SPG) Receives $179.67 Consensus PT from Brokerages

Shares of Simon Property Group, Inc. (NYSE:SPG) have received a consensus recommendation of “Moderate Buy” from the nine ratings firms that are currently covering the company, Marketbeat Ratings reports. Four investment analysts have rated the stock with a hold recommendation and five have assigned a buy recommendation to the company. The average 1 year target price among analysts that have issued a report on the stock in the last year is $179.67.

Several brokerages have issued reports on SPG. Piper Sandler raised shares of Simon Property Group from a “neutral” rating to an “overweight” rating and increased their price objective for the company from $175.00 to $205.00 in a research report on Wednesday, February 5th. Stifel Nicolaus upped their target price on shares of Simon Property Group from $168.50 to $180.00 and gave the company a “buy” rating in a research note on Tuesday, May 13th. StockNews.com lowered shares of Simon Property Group from a “buy” rating to a “hold” rating in a report on Saturday, March 29th. Finally, Scotiabank cut their price objective on shares of Simon Property Group from $186.00 to $159.00 and set a “sector perform” rating on the stock in a report on Wednesday, April 23rd.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in SPG. Harbor Capital Advisors Inc. increased its holdings 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 valued at $1,092,000 after buying an additional 154 shares during the last quarter. Czech National Bank grew its position in shares of Simon Property Group by 6.5% in the 4th 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 in the last quarter. Brookstone Capital Management grew its position in shares of Simon Property Group by 2.6% in the 4th 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 in the last quarter. Wedmont Private Capital increased its holdings in shares of Simon Property Group by 3.3% in the 4th quarter. Wedmont Private Capital now owns 6,727 shares of the real estate investment trust’s stock valued at $1,150,000 after acquiring an additional 216 shares during the last quarter. Finally, Miracle Mile Advisors LLC raised its position in shares of Simon Property Group by 77.3% during the 4th quarter. Miracle Mile Advisors LLC now owns 16,230 shares of the real estate investment trust’s stock valued at $2,795,000 after acquiring an additional 7,075 shares in the last quarter. 93.01% of the stock is owned by institutional investors and hedge funds.

Simon Property Group Stock Down 1.0%

Shares of Simon Property Group stock opened at $162.89 on Wednesday. The company has a fifty day moving average price of $158.13 and a 200 day moving average price of $170.81. 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 twelve month low of $136.34 and a twelve month high of $190.14. The stock has a market cap of $53.17 billion, a price-to-earnings ratio of 22.44, a price-to-earnings-growth ratio of 10.10 and a beta of 1.43.

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

Simon Property Group Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Monday, June 30th. Shareholders of record on Monday, June 9th will be paid a dividend of $2.10 per share. The ex-dividend date is Monday, June 9th. This represents a $8.40 dividend on an annualized basis and a yield of 5.16%. Simon Property Group’s dividend payout ratio (DPR) is 133.76%.

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.