Simon Property Group (NYSE:SPG) Now Covered by Analysts at Deutsche Bank Aktiengesellschaft

Deutsche Bank Aktiengesellschaft began coverage on shares of Simon Property Group (NYSE:SPG) in a research note released on Tuesday morning, Marketbeat.com reports. The brokerage issued a hold rating and a $195.00 target price on the real estate investment trust’s stock.

Other equities research analysts have also issued research reports about the company. Stifel Nicolaus reiterated a “hold” rating and issued a $159.00 price target (up previously from $157.50) on shares of Simon Property Group in a research note on Thursday, September 12th. Mizuho boosted their target price on Simon Property Group from $158.00 to $182.00 and gave the company a “neutral” rating in a research report on Wednesday, December 4th. Evercore ISI upgraded Simon Property Group from an “in-line” rating to an “outperform” rating and boosted their price target for the company from $160.00 to $172.00 in a report on Monday, September 16th. Truist Financial boosted their price objective on shares of Simon Property Group from $147.00 to $158.00 and gave the stock a “hold” rating in a research note on Wednesday, August 28th. Finally, StockNews.com downgraded Simon Property Group from a “buy” rating to a “hold” rating in a research report on Thursday, October 10th. Eight equities research analysts have rated the stock with a hold rating and three have given a buy rating to the company. According to MarketBeat, the company presently has a consensus rating of “Hold” and a consensus target price of $168.40.

Simon Property Group Stock Performance

SPG stock opened at $179.98 on Tuesday. The stock has a market capitalization of $58.72 billion, a PE ratio of 23.97, a price-to-earnings-growth ratio of 10.50 and a beta of 1.75. Simon Property Group has a 12-month low of $135.15 and a 12-month high of $186.00. The company has a current ratio of 2.00, a quick ratio of 2.00 and a debt-to-equity ratio of 8.20. The stock’s 50 day simple moving average is $177.20 and its 200 day simple moving average is $164.23.

Simon Property Group (NYSE:SPG) last released its quarterly earnings results on Friday, November 1st. The real estate investment trust reported $1.46 earnings per share for the quarter, missing the consensus estimate of $3.00 by ($1.54). The firm had revenue of $1.48 billion for the quarter, compared to the consensus estimate of $1.32 billion. Simon Property Group had a net margin of 43.36% and a return on equity of 76.21%. Simon Property Group’s quarterly revenue was up 4.9% compared to the same quarter last year. During the same period in the previous year, the company earned $3.20 earnings per share. As a group, research analysts forecast that Simon Property Group will post 12.76 earnings per share for the current fiscal year.

Simon Property Group Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, December 30th. Shareholders of record on Monday, December 9th will be issued a $2.10 dividend. This represents a $8.40 annualized dividend and a yield of 4.67%. This is a positive change from Simon Property Group’s previous quarterly dividend of $2.05. The ex-dividend date is Monday, December 9th. Simon Property Group’s dividend payout ratio is presently 111.85%.

Insider Transactions at Simon Property Group

In other news, Director Allan B. Hubbard bought 370 shares of the stock in a transaction dated Monday, September 30th. The shares were acquired at an average cost of $167.30 per share, with a total value of $61,901.00. Following the purchase, the director now directly owns 34,301 shares in the company, valued at $5,738,557.30. The trade was a 1.09 % increase in their position. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Corporate insiders own 8.50% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds have recently modified their holdings of the stock. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its holdings in Simon Property Group by 617.5% in the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 3,191,296 shares of the real estate investment trust’s stock valued at $539,393,000 after acquiring an additional 2,746,503 shares during the last quarter. Los Angeles Capital Management LLC increased its holdings in shares of Simon Property Group by 373.6% during the 3rd quarter. Los Angeles Capital Management LLC now owns 1,259,648 shares of the real estate investment trust’s stock worth $212,906,000 after buying an additional 993,694 shares during the last quarter. International Assets Investment Management LLC increased its holdings in shares of Simon Property Group by 18,764.1% during the 3rd quarter. International Assets Investment Management LLC now owns 892,085 shares of the real estate investment trust’s stock worth $150,780,000 after buying an additional 887,356 shares during the last quarter. Mizuho Securities USA LLC increased its holdings in shares of Simon Property Group by 2,520.3% during the 3rd quarter. Mizuho Securities USA LLC now owns 658,191 shares of the real estate investment trust’s stock worth $111,247,000 after buying an additional 633,072 shares during the last quarter. Finally, Caisse DE Depot ET Placement DU Quebec boosted its position in shares of Simon Property Group by 295.3% during the 3rd quarter. Caisse DE Depot ET Placement DU Quebec now owns 655,300 shares of the real estate investment trust’s stock worth $110,759,000 after purchasing an additional 489,519 shares during the period. Institutional investors and hedge funds 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.