Simon Property Group, Inc. (NYSE:SPG) Receives $180.33 Average PT from Analysts

Simon Property Group, Inc. (NYSE:SPG) has earned an average rating of “Hold” from the nine research firms that are covering the company, MarketBeat.com reports. Five investment analysts have rated the stock with a hold recommendation and four have issued a buy recommendation on the company. The average twelve-month target price among analysts that have issued ratings on the stock in the last year is $180.33.

Several research analysts have recently weighed in on the company. Scotiabank set a $186.00 price objective on Simon Property Group in a research report on Friday, February 28th. Deutsche Bank Aktiengesellschaft began coverage on shares of Simon Property Group in a report on Tuesday, December 17th. They issued a “hold” rating and a $195.00 price objective on the stock. Piper Sandler upgraded shares of Simon Property Group from a “neutral” rating to an “overweight” rating and increased their target price for the stock from $175.00 to $205.00 in a report on Wednesday, February 5th. Jefferies Financial Group raised shares of Simon Property Group from a “hold” rating to a “buy” rating and raised their target price for the company from $179.00 to $198.00 in a research report on Thursday, January 2nd. Finally, StockNews.com raised shares of Simon Property Group from a “hold” rating to a “buy” rating in a research report on Friday, March 21st.

Insider Activity at Simon Property Group

In other Simon Property Group news, Director Reuben S. Leibowitz purchased 465 shares of the company’s stock in a transaction that occurred on Monday, December 30th. The shares were acquired at an average price of $168.59 per share, for a total transaction of $78,394.35. Following the purchase, the director now owns 55,919 shares in the company, valued at approximately $9,427,384.21. The trade was a 0.84 % increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which is accessible through this link. 8.50% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Simon Property Group

Several institutional investors and hedge funds have recently modified their holdings of SPG. Hopwood Financial Services Inc. acquired a new position in Simon Property Group in the 4th quarter valued at about $28,000. WR Wealth Planners LLC grew its position in shares of Simon Property Group by 328.2% in the fourth quarter. WR Wealth Planners LLC now owns 167 shares of the real estate investment trust’s stock valued at $29,000 after purchasing an additional 128 shares during the last quarter. New England Capital Financial Advisors LLC bought a new position in shares of Simon Property Group during the fourth quarter worth approximately $30,000. Caisse Des Depots ET Consignations acquired a new stake in Simon Property Group during the 4th quarter worth approximately $31,000. Finally, TCTC Holdings LLC bought a new stake in Simon Property Group in the 4th quarter valued at $34,000. 93.01% of the stock is currently owned by institutional investors and hedge funds.

Simon Property Group Stock Performance

Shares of SPG stock opened at $165.91 on Tuesday. The company has a market capitalization of $54.13 billion, a P/E ratio of 22.85, a price-to-earnings-growth ratio of 10.10 and a beta of 1.78. Simon Property Group has a 52 week low of $139.25 and a 52 week high of $190.14. The company has a debt-to-equity ratio of 7.19, a quick ratio of 2.00 and a current ratio of 1.28. The company’s 50 day moving average price is $175.62 and its two-hundred day moving average price is $174.36.

Simon Property Group (NYSE:SPG) last issued its quarterly earnings data on Tuesday, February 4th. The real estate investment trust reported $3.68 EPS for the quarter, topping analysts’ consensus estimates of $1.98 by $1.70. Simon Property Group had a net margin of 41.49% and a return on equity of 74.02%. On average, analysts expect that Simon Property Group will post 12.54 earnings per share for the current fiscal year.

Simon Property Group Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, March 31st. Stockholders of record on Monday, March 10th will be issued a $2.10 dividend. The ex-dividend date is Monday, March 10th. This represents a $8.40 dividend on an annualized basis and a dividend yield of 5.06%. Simon Property Group’s payout ratio is 115.70%.

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.