Simon Property Group, Inc. (NYSE:SPG) Receives $162.78 Consensus PT from Analysts

Simon Property Group, Inc. (NYSE:SPG) has been assigned a consensus rating of “Hold” from the nine brokerages that are presently covering the company, Marketbeat Ratings reports. Six investment 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 analysts that have issued a report on the stock in the last year is $162.78.

SPG has been the subject of a number of analyst reports. Truist Financial upped their price target on Simon Property Group from $147.00 to $158.00 and gave the company a “hold” rating in a research report on Wednesday, August 28th. StockNews.com lowered Simon Property Group from a “buy” rating to a “hold” rating in a research report on Thursday, October 10th. Mizuho increased their price objective on Simon Property Group from $155.00 to $158.00 and gave the stock a “neutral” rating in a research report on Monday, August 19th. Evercore ISI upgraded Simon Property Group from an “in-line” rating to an “outperform” rating and raised their price target for the stock from $160.00 to $172.00 in a research report on Monday, September 16th. Finally, Piper Sandler reiterated a “neutral” rating and issued a $175.00 price objective (down from $190.00) on shares of Simon Property Group in a research note on Tuesday, September 3rd.

Insider Buying and Selling at Simon Property Group

In related news, Director Allan B. Hubbard purchased 370 shares of the stock in a transaction that occurred on Monday, September 30th. The shares were purchased at an average price of $167.30 per share, with a total value of $61,901.00. Following the completion of the acquisition, the director now directly owns 34,301 shares in the company, valued at $5,738,557.30. This represents a 1.09 % increase in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. 8.50% of the stock is owned by insiders.

Hedge Funds Weigh In On Simon Property Group

A number of hedge funds and other institutional investors have recently made changes to their positions in the stock. SkyView Investment Advisors LLC grew its holdings in shares of Simon Property Group by 4.3% during the third quarter. SkyView Investment Advisors LLC now owns 3,803 shares of the real estate investment trust’s stock worth $643,000 after buying an additional 158 shares during the last quarter. Unigestion Holding SA purchased a new position in shares of Simon Property Group during the third quarter worth about $655,000. TCW Group Inc. grew its holdings in shares of Simon Property Group by 5.3% during the third quarter. TCW Group Inc. now owns 400,026 shares of the real estate investment trust’s stock worth $67,612,000 after buying an additional 20,215 shares during the last quarter. Soltis Investment Advisors LLC grew its holdings in shares of Simon Property Group by 1.1% during the third quarter. Soltis Investment Advisors LLC now owns 22,931 shares of the real estate investment trust’s stock worth $3,876,000 after buying an additional 259 shares during the last quarter. Finally, Arete Wealth Advisors LLC purchased a new position in shares of Simon Property Group during the third quarter worth about $562,000. Hedge funds and other institutional investors own 93.01% of the company’s stock.

Simon Property Group Stock Performance

NYSE SPG opened at $181.14 on Wednesday. The stock has a market capitalization of $59.10 billion, a price-to-earnings ratio of 24.12, a PEG ratio of 10.57 and a beta of 1.74. Simon Property Group has a twelve month low of $119.92 and a twelve month high of $183.96. 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 has a 50-day moving average of $172.55 and a 200 day moving average of $160.08.

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 analysts’ consensus estimates of $3.00 by ($1.54). Simon Property Group had a return on equity of 76.21% and a net margin of 43.36%. The business had revenue of $1.48 billion during the quarter, compared to analyst estimates of $1.32 billion. During the same period in the previous year, the company posted $3.20 EPS. The business’s revenue for the quarter was up 4.9% compared to the same quarter last year. Sell-side analysts anticipate that Simon Property Group will post 12.79 EPS 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 paid a $2.10 dividend. The ex-dividend date is Monday, December 9th. This is a boost from Simon Property Group’s previous quarterly dividend of $2.05. This represents a $8.40 dividend on an annualized basis and a yield of 4.64%. Simon Property Group’s dividend payout ratio (DPR) is currently 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.