Simon Property Group (NYSE:SPG) Price Target Increased to $158.00 by Analysts at Mizuho

Simon Property Group (NYSE:SPG) had its price objective hoisted by Mizuho from $155.00 to $158.00 in a report issued on Monday morning, Benzinga reports. Mizuho currently has a neutral rating on the real estate investment trust’s stock.

Several other analysts have also recently issued reports on SPG. Scotiabank upped their price objective on Simon Property Group from $142.00 to $152.00 and gave the stock a sector perform rating in a report on Thursday, May 16th. Stifel Nicolaus raised their price target on shares of Simon Property Group from $152.00 to $157.50 and gave the company a buy rating in a report on Tuesday, August 6th. StockNews.com raised Simon Property Group from a hold rating to a buy rating in a report on Friday, August 16th. Evercore ISI increased their price objective on Simon Property Group from $150.00 to $155.00 and gave the company an in-line rating in a report on Tuesday, August 6th. Finally, Argus lifted their target price on shares of Simon Property Group from $157.00 to $168.00 and gave the company a buy rating in a report on Tuesday, June 11th. Six investment analysts have rated the stock with a hold rating and five have issued a buy rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of Hold and a consensus price target of $153.95.

Simon Property Group Stock Performance

NYSE SPG opened at $162.21 on Monday. The company has a quick ratio of 2.04, a current ratio of 2.04 and a debt-to-equity ratio of 7.53. Simon Property Group has a twelve month low of $102.11 and a twelve month high of $162.46. The business has a 50-day moving average price of $151.93 and a 200-day moving average price of $149.51. The firm has a market cap of $52.89 billion, a price-to-earnings ratio of 20.66, a price-to-earnings-growth ratio of 8.58 and a beta of 1.75.

Simon Property Group (NYSE:SPG) last posted its quarterly earnings results on Monday, August 5th. The real estate investment trust reported $1.51 earnings per share for the quarter, missing the consensus estimate of $2.93 by ($1.42). The business had revenue of $1.32 billion during the quarter, compared to the consensus estimate 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 in the previous year, the company earned $2.88 earnings per share. As a group, equities research analysts predict that Simon Property Group will post 12.85 EPS for the current fiscal year.

Simon Property Group Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, September 30th. Stockholders of record on Monday, September 9th will be paid a dividend of $2.05 per share. This represents a $8.20 dividend on an annualized basis and a dividend yield of 5.06%. This is an increase from Simon Property Group’s previous quarterly dividend of $2.00. The ex-dividend date of this dividend is Monday, September 9th. Simon Property Group’s dividend payout ratio is 101.91%.

Insider Transactions at Simon Property Group

In other Simon Property Group news, Director Reuben S. Leibowitz purchased 486 shares of the stock in a transaction dated Friday, June 28th. The shares were acquired at an average cost of $150.17 per share, for a total transaction of $72,982.62. Following the completion of the transaction, the director now directly owns 55,001 shares of the company’s stock, valued at $8,259,500.17. The purchase was disclosed in a filing with the SEC, which is available at this link. Corporate insiders own 8.50% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Vanguard Group Inc. lifted its position in Simon Property Group by 1.5% during the first quarter. Vanguard Group Inc. now owns 46,380,446 shares of the real estate investment trust’s stock valued at $7,258,076,000 after buying an additional 672,941 shares in the last quarter. Norges Bank acquired a new position in shares of Simon Property Group during the 4th quarter valued at $2,561,181,000. Charles Schwab Investment Management Inc. lifted its holdings in shares of Simon Property Group by 2.1% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 3,537,655 shares of the real estate investment trust’s stock valued at $504,611,000 after acquiring an additional 72,645 shares in the last quarter. Boston Partners boosted its position in Simon Property Group by 4.2% during the 1st quarter. Boston Partners now owns 2,321,228 shares of the real estate investment trust’s stock worth $363,165,000 after purchasing an additional 92,648 shares during the period. Finally, Centersquare Investment Management LLC increased its holdings in Simon Property Group by 4.5% in the 1st quarter. Centersquare Investment Management LLC now owns 1,814,206 shares of the real estate investment trust’s stock valued at $283,905,000 after purchasing an additional 78,866 shares in the last quarter. Institutional investors and hedge funds own 93.01% of the company’s stock.

Simon Property Group Company Profile

Simon is a real estate investment trust engaged in the ownership of premier shopping, dining, entertainment and mixed-use destinations and an S&P 100 company (Simon Property Group, NYSE: SPG). Our properties across North America, Europe and Asia provide community gathering places for millions of people every day and generate billions in annual sales.