Simon Property Group, Inc. (NYSE:SPG) Receives Consensus Rating of “Hold” from Brokerages

Simon Property Group, Inc. (NYSE:SPG) has received an average rating of “Hold” from the ten research firms that are currently covering the stock, MarketBeat Ratings reports. Seven equities research analysts have rated the stock with a hold rating and three have issued a buy rating on the company. The average 1 year price target among brokerages that have issued ratings on the stock in the last year is $172.10.

A number of analysts have issued reports on SPG shares. Stifel Nicolaus reissued a “hold” rating and issued a $159.00 target price (up from $157.50) on shares of Simon Property Group in a research report on Thursday, September 12th. Deutsche Bank Aktiengesellschaft assumed coverage on Simon Property Group in a research note on Tuesday, December 17th. They issued a “hold” rating and a $195.00 price objective on the stock. StockNews.com lowered shares of Simon Property Group from a “buy” rating to a “hold” rating in a research report on Thursday, October 10th. Jefferies Financial Group raised shares of Simon Property Group from a “hold” rating to a “buy” rating and boosted their price target for the company from $179.00 to $198.00 in a research report on Thursday, January 2nd. Finally, Mizuho lifted their price objective on shares of Simon Property Group from $158.00 to $182.00 and gave the company a “neutral” rating in a research note on Wednesday, December 4th.

Insider Transactions at Simon Property Group

In other Simon Property Group news, Director Reuben S. Leibowitz acquired 465 shares of the business’s stock in a transaction dated Monday, December 30th. The stock was bought at an average price of $168.59 per share, with a total value of $78,394.35. Following the completion of the acquisition, the director now owns 55,919 shares of the company’s stock, valued at $9,427,384.21. This trade represents a 0.84 % increase in their ownership of the stock. The purchase was disclosed in a filing with the SEC, which is available through this hyperlink. Insiders own 8.50% of the company’s stock.

Institutional Investors Weigh In On Simon Property Group

A number of institutional investors and hedge funds have recently bought and sold shares of SPG. Wilmington Savings Fund Society FSB bought a new position in shares of Simon Property Group in the 3rd quarter worth $834,000. Red Cedar Investment Management LLC increased its stake in Simon Property Group by 153.2% in the third quarter. Red Cedar Investment Management LLC now owns 17,591 shares of the real estate investment trust’s stock valued at $2,973,000 after acquiring an additional 10,644 shares during the last quarter. TTP Investments Inc. raised its position in Simon Property Group by 42.0% during the third quarter. TTP Investments Inc. now owns 34,290 shares of the real estate investment trust’s stock valued at $5,796,000 after purchasing an additional 10,147 shares in the last quarter. Versant Capital Management Inc lifted its stake in Simon Property Group by 72.8% during the fourth quarter. Versant Capital Management Inc now owns 999 shares of the real estate investment trust’s stock worth $172,000 after purchasing an additional 421 shares during the last quarter. Finally, Forte Capital LLC ADV bought a new stake in Simon Property Group during the third quarter worth about $630,000. 93.01% of the stock is owned by hedge funds and other institutional investors.

Simon Property Group Price Performance

SPG opened at $174.78 on Thursday. Simon Property Group has a fifty-two week low of $135.15 and a fifty-two week high of $186.00. The firm has a 50-day moving average of $177.20 and a 200 day moving average of $166.65. The company has a debt-to-equity ratio of 8.20, a quick ratio of 2.00 and a current ratio of 2.00. The firm has a market cap of $57.03 billion, a P/E ratio of 23.27, a PEG ratio of 10.50 and a beta of 1.75.

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

Simon Property Group Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, December 30th. Shareholders of record on Monday, December 9th were issued a $2.10 dividend. This represents a $8.40 annualized dividend and a yield of 4.81%. This is an increase from Simon Property Group’s previous quarterly dividend of $2.05. The ex-dividend date of this dividend was Monday, December 9th. Simon Property Group’s dividend payout ratio (DPR) is presently 111.85%.

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.