Simon Property Group, Inc. (NYSE:SPG) Receives $187.69 Average Target Price from Brokerages

Shares of Simon Property Group, Inc. (NYSE:SPG) have been given a consensus rating of “Hold” by the fourteen analysts that are presently covering the stock, MarketBeat reports. Nine analysts have rated the stock with a hold recommendation and five have assigned a buy recommendation to the company. The average twelve-month price target among brokers that have covered the stock in the last year is $187.6923.

A number of research analysts recently weighed in on SPG shares. LADENBURG THALM/SH SH initiated coverage on shares of Simon Property Group in a research report on Friday, July 18th. They set a “buy” rating and a $225.00 price objective on the stock. Barclays boosted their target price on shares of Simon Property Group from $170.00 to $180.00 and gave the company an “equal weight” rating in a research note on Monday, October 6th. Piper Sandler raised their price target on Simon Property Group from $200.00 to $210.00 and gave the stock an “overweight” rating in a research note on Thursday, September 18th. Scotiabank lifted their price objective on Simon Property Group from $163.00 to $173.00 and gave the stock a “sector perform” rating in a report on Thursday, August 28th. Finally, Weiss Ratings reissued a “buy (b)” rating on shares of Simon Property Group in a report on Tuesday, October 14th.

Simon Property Group Stock Up 1.6%

SPG stock opened at $183.62 on Wednesday. The business has a 50 day moving average of $180.44 and a 200 day moving average of $169.50. The firm has a market cap of $59.95 billion, a PE ratio of 28.38, a price-to-earnings-growth ratio of 12.73 and a beta of 1.50. Simon Property Group has a twelve month low of $136.34 and a twelve month high of $190.13. The company has a quick ratio of 1.23, a current ratio of 1.23 and a debt-to-equity ratio of 9.05.

Simon Property Group (NYSE:SPG) last issued its earnings results on Monday, November 3rd. The real estate investment trust reported $3.22 earnings per share (EPS) for the quarter, topping the consensus estimate of $3.09 by $0.13. Simon Property Group had a net margin of 36.78% and a return on equity of 72.38%. The firm had revenue of $1.60 billion for the quarter, compared to the consensus estimate of $1.41 billion. During the same quarter in the prior year, the firm posted $3.05 earnings per share. The business’s revenue was up 8.2% on a year-over-year basis. Simon Property Group has set its FY 2025 guidance at 12.600-12.700 EPS. On average, research analysts forecast that Simon Property Group will post 12.54 EPS for the current fiscal year.

Simon Property Group Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, December 31st. Stockholders of record on Wednesday, December 10th will be paid a $2.20 dividend. This is a boost from Simon Property Group’s previous quarterly dividend of $2.15. The ex-dividend date is Wednesday, December 10th. This represents a $8.80 annualized dividend and a dividend yield of 4.8%. Simon Property Group’s dividend payout ratio (DPR) is currently 128.09%.

Insider Buying and Selling

In other Simon Property Group news, Director Larry C. Glasscock bought 351 shares of the business’s stock in a transaction that occurred on Tuesday, September 30th. The stock was bought at an average cost of $185.95 per share, for a total transaction of $65,268.45. Following the completion of the transaction, the director owned 43,536 shares of the company’s stock, valued at $8,095,519.20. This represents a 0.81% increase in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Daniel C. Smith bought 335 shares of Simon Property Group stock in a transaction on Tuesday, September 30th. The shares were acquired at an average cost of $185.95 per share, with a total value of $62,293.25. Following the completion of the acquisition, the director owned 32,333 shares of the company’s stock, valued at $6,012,321.35. The trade was a 1.05% increase in their position. The disclosure for this purchase is available in the SEC filing. Insiders have bought a total of 2,163 shares of company stock valued at $401,605 in the last 90 days. 8.66% of the stock is owned by insiders.

Hedge Funds Weigh In On Simon Property Group

A number of institutional investors have recently bought and sold shares of SPG. Brighton Jones LLC purchased a new stake in Simon Property Group in the fourth quarter worth about $295,000. World Investment Advisors increased its holdings in Simon Property Group by 26.5% in the 1st quarter. World Investment Advisors now owns 4,907 shares of the real estate investment trust’s stock worth $815,000 after acquiring an additional 1,029 shares in the last quarter. Penserra Capital Management LLC increased its holdings in Simon Property Group by 6.3% in the 1st quarter. Penserra Capital Management LLC now owns 9,290 shares of the real estate investment trust’s stock worth $1,541,000 after acquiring an additional 551 shares in the last quarter. Envestnet Asset Management Inc. raised its stake in Simon Property Group by 7.1% during the 1st quarter. Envestnet Asset Management Inc. now owns 318,803 shares of the real estate investment trust’s stock worth $52,947,000 after acquiring an additional 21,227 shares during the period. Finally, TD Private Client Wealth LLC lifted its holdings in Simon Property Group by 18.8% during the first quarter. TD Private Client Wealth LLC now owns 1,895 shares of the real estate investment trust’s stock valued at $315,000 after purchasing an additional 300 shares in the last quarter. 93.01% of the stock is owned by institutional investors.

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.