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

Shares of Simon Property Group, Inc. (NYSE:SPG) have earned an average recommendation of “Hold” from the ten analysts that are presently covering the stock, Marketbeat.com reports. Seven research analysts have rated the stock with a hold rating and three have given a buy rating to the company. The average 1-year target price among brokers that have issued a report on the stock in the last year is $172.10.

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

Insider Transactions at Simon Property Group

In other news, Director Reuben S. Leibowitz purchased 465 shares of the business’s stock in a transaction on Monday, December 30th. The shares were acquired at an average price of $168.59 per share, with a total value of $78,394.35. Following the acquisition, the director now directly 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 transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Company insiders own 8.60% of the company’s stock.

Institutional Investors Weigh In On Simon Property Group

Several institutional investors and hedge funds have recently bought and sold shares of SPG. Wetzel Investment Advisors Inc. purchased a new position in shares of Simon Property Group during the second quarter valued at approximately $27,000. Capital Performance Advisors LLP purchased a new stake in Simon Property Group in the third quarter worth $30,000. Trivant Custom Portfolio Group LLC bought a new stake in Simon Property Group in the third quarter valued at $42,000. Eastern Bank purchased a new position in Simon Property Group during the 3rd quarter valued at $42,000. Finally, Ashton Thomas Securities LLC purchased a new position in Simon Property Group during the 3rd quarter valued at $52,000. Hedge funds and other institutional investors own 93.01% of the company’s stock.

Simon Property Group Stock Down 1.0 %

Shares of SPG stock opened at $171.87 on Thursday. The firm’s fifty day moving average price is $177.38 and its two-hundred day moving average price is $167.43. The company has a current ratio of 2.00, a quick ratio of 2.00 and a debt-to-equity ratio of 8.20. Simon Property Group has a 1 year low of $135.15 and a 1 year high of $186.00. The firm has a market capitalization of $56.08 billion, a P/E ratio of 22.89, a PEG ratio of 9.16 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 the consensus estimate of $3.00 by ($1.54). The firm had revenue of $1.48 billion during 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 prior year, the business posted $3.20 earnings per share. On average, equities analysts predict that Simon Property Group will post 12.74 EPS for the current fiscal year.

Simon Property Group Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, December 30th. Stockholders of record on Monday, December 9th were paid a dividend of $2.10 per share. 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 dividend yield of 4.89%. The ex-dividend date was Monday, December 9th. Simon Property Group’s dividend payout ratio (DPR) is 111.85%.

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.