Analysts Set Simon Property Group, Inc. (NYSE:SPG) Price Target at $180.33

Shares of Simon Property Group, Inc. (NYSE:SPG) have been given a consensus rating of “Hold” by the nine research firms that are covering the firm, Marketbeat.com reports. Five equities research analysts have rated the stock with a hold recommendation and four have given a buy recommendation to the company. The average twelve-month price objective among brokers that have issued ratings on the stock in the last year is $180.33.

Several brokerages recently issued reports on SPG. Mizuho increased their price objective on Simon Property Group from $158.00 to $182.00 and gave the stock a “neutral” rating in a research note on Wednesday, December 4th. Deutsche Bank Aktiengesellschaft assumed coverage on Simon Property Group in a research report on Tuesday, December 17th. They set a “hold” rating and a $195.00 price target on the stock. Piper Sandler upgraded Simon Property Group from a “neutral” rating to an “overweight” rating and lifted their price objective for the company from $175.00 to $205.00 in a report on Wednesday, February 5th. StockNews.com lowered shares of Simon Property Group from a “buy” rating to a “hold” rating in a research note on Saturday. Finally, 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.

Institutional Inflows and Outflows

Several large investors have recently modified their holdings of the company. Norges Bank purchased a new position in Simon Property Group in the fourth quarter worth $2,059,505,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its stake in Simon Property Group by 617.5% during the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 3,191,296 shares of the real estate investment trust’s stock worth $539,393,000 after buying an additional 2,746,503 shares during the last quarter. Northern Trust Corp increased its position in Simon Property Group by 45.9% during the 4th quarter. Northern Trust Corp now owns 5,462,856 shares of the real estate investment trust’s stock valued at $940,758,000 after buying an additional 1,718,398 shares in the last quarter. Resolution Capital Ltd purchased a new stake in Simon Property Group in the fourth quarter valued at about $212,592,000. Finally, Capital World Investors acquired a new stake in Simon Property Group in the fourth quarter worth about $119,777,000. Institutional investors own 93.01% of the company’s stock.

Simon Property Group Stock Performance

SPG stock opened at $166.27 on Tuesday. The firm has a market cap of $54.25 billion, a price-to-earnings ratio of 22.90, a PEG ratio of 10.10 and a beta of 1.78. Simon Property Group has a twelve month low of $139.25 and a twelve month high of $190.14. The company has a quick ratio of 2.00, a current ratio of 1.28 and a debt-to-equity ratio of 7.19. The business’s fifty day simple moving average is $175.26 and its two-hundred day simple moving average is $174.54.

Simon Property Group (NYSE:SPG) last announced its quarterly earnings data on Tuesday, February 4th. The real estate investment trust reported $3.68 earnings per share for the quarter, beating 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%. Analysts predict that Simon Property Group will post 12.54 earnings per share for the current year.

Simon Property Group Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Monday, March 31st. Stockholders of record on Monday, March 10th were issued a $2.10 dividend. This represents a $8.40 dividend on an annualized basis and a dividend yield of 5.05%. The ex-dividend date was Monday, March 10th. Simon Property Group’s dividend payout ratio is currently 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.