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

Shares of Simon Property Group, Inc. (NYSE:SPG) have received a consensus recommendation of “Hold” from the nine research firms that are currently covering the firm, Marketbeat.com reports. Six equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. The average 12-month price objective among brokers that have issued ratings on the stock in the last year is $162.78.

A number of brokerages recently issued reports on SPG. Stifel Nicolaus reiterated a “hold” rating and set a $159.00 target price (up previously from $157.50) on shares of Simon Property Group in a research report on Thursday, September 12th. Mizuho increased their target price on shares of Simon Property Group from $155.00 to $158.00 and gave the stock a “neutral” rating in a research report on Monday, August 19th. Argus increased their target price on shares of Simon Property Group from $157.00 to $168.00 and gave the stock a “buy” rating in a research report on Tuesday, June 11th. Truist Financial increased their price objective on shares of Simon Property Group from $147.00 to $158.00 and gave the stock a “hold” rating in a report on Wednesday, August 28th. Finally, StockNews.com raised shares of Simon Property Group from a “hold” rating to a “buy” rating in a report on Friday, August 16th.

Simon Property Group Trading Up 0.8 %

Shares of SPG stock opened at $169.02 on Tuesday. Simon Property Group has a 52-week low of $102.11 and a 52-week high of $170.87. The stock has a market cap of $55.11 billion, a price-to-earnings ratio of 21.53, a P/E/G ratio of 9.32 and a beta of 1.74. The company has a debt-to-equity ratio of 7.53, a quick ratio of 2.04 and a current ratio of 2.04. The firm has a fifty day moving average of $160.99 and a 200-day moving average of $152.90.

Simon Property Group (NYSE:SPG) last announced its earnings results on Monday, August 5th. The real estate investment trust reported $1.51 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $2.93 by ($1.42). The firm had revenue of $1.32 billion for the quarter, compared to analyst estimates 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 quarter last year, the business earned $2.88 EPS. On average, equities research analysts forecast that Simon Property Group will post 12.85 earnings per share for the current fiscal 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 paid a $2.05 dividend. This represents a $8.20 annualized dividend and a dividend yield of 4.85%. The ex-dividend date was Monday, September 9th. This is a positive change from Simon Property Group’s previous quarterly dividend of $2.00. Simon Property Group’s dividend payout ratio (DPR) is 104.46%.

Institutional Inflows and Outflows

Hedge funds have recently modified their holdings of the business. Clearstead Trust LLC bought a new position in shares of Simon Property Group in the 1st quarter valued at about $25,000. EntryPoint Capital LLC bought a new position in shares of Simon Property Group in the 1st quarter valued at about $26,000. Opal Wealth Advisors LLC bought a new position in shares of Simon Property Group in the 2nd quarter valued at about $25,000. Wetzel Investment Advisors Inc. bought a new position in shares of Simon Property Group in the 2nd quarter valued at about $27,000. Finally, Pathway Financial Advisers LLC bought a new position in shares of Simon Property Group in the 1st quarter valued at about $29,000. 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.