Simon Property Group, Inc. (NYSE:SPG) Receives Average Recommendation of "Hold" from Brokerages

Key Points

• Simon Property Group has a consensus “Hold” rating among 17 analysts, with 12 holds, three buys and two strong buys. The average 12-month price target is $228.14, above the reported share price of $204.73.
• The REIT’s latest quarterly earnings missed estimates, with EPS of $1.49 versus the $1.64 consensus, although revenue rose 19.5% year over year to $1.79 billion. Analysts expect approximately $13.23 in full-year EPS.
• Simon Property Group announced a quarterly dividend of $2.25, equivalent to $9.00 annually and a 4.4% yield; insiders purchased $533,056 worth of shares over the last quarter.

Simon Property Group, Inc. (NYSE:SPG - Get Free Report) has earned an average rating of "Hold" from the seventeen research firms that are presently covering the firm, Marketbeat reports. Twelve analysts have rated the stock with a hold recommendation, three have given a buy recommendation and two have given a strong buy recommendation to the company. The average 12 month price objective among brokers that have issued a report on the stock in the last year is $228.14.

SPG has been the topic of a number of recent analyst reports. Barclays upped their target price on shares of Simon Property Group from $213.00 to $215.00 and gave the company an "equal weight" rating in a research report on Monday, August 17th. Bank of America lifted their price target on shares of Simon Property Group from $225.00 to $236.00 and gave the company a "buy" rating in a research report on Monday, June 29th. LADENBURG THALM/SH SH boosted their price target on shares of Simon Property Group from $250.00 to $275.00 and gave the company a "buy" rating in a research note on Tuesday, August 11th. Jefferies Financial Group raised shares of Simon Property Group to a "strong-buy" rating in a research note on Friday, June 26th. Finally, Piper Sandler upped their price objective on shares of Simon Property Group from $230.00 to $285.00 and gave the stock an "overweight" rating in a report on Tuesday, July 21st.

Insider Buying and Selling

In other news, Director Marta Stewart purchased 182 shares of the firm's stock in a transaction on Tuesday, June 30th. The shares were bought at an average cost of $223.16 per share, for a total transaction of $40,615.12. Following the completion of the purchase, the director directly owned 18,000 shares of the company's stock, valued at approximately $4,016,880. This trade represents a 1.02% increase in their ownership of the stock. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, Director Gary Rodkin purchased 256 shares of the stock in a transaction dated Tuesday, June 30th. The shares were purchased at an average price of $223.34 per share, with a total value of $57,175.04. Following the completion of the transaction, the director owned 21,016 shares of the company's stock, valued at approximately $4,693,713.44. This trade represents a 1.23% increase in their ownership of the stock. The SEC filing for this purchase provides additional information. Insiders have bought 2,387 shares of company stock valued at $533,056 over the last quarter. 8.73% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Simon Property Group

A number of hedge funds and other institutional investors have recently bought and sold shares of the company. Ancora Advisors LLC purchased a new stake in shares of Simon Property Group during the second quarter worth approximately $27,000. Osbon Capital Management LLC purchased a new position in Simon Property Group in the second quarter worth approximately $32,000. SHP Wealth Management purchased a new position in Simon Property Group in the fourth quarter worth approximately $34,000. Fiduciary Financial Advisors acquired a new position in Simon Property Group during the 2nd quarter worth approximately $34,000. Finally, Dynamic Wealth Strategies LLC grew its holdings in Simon Property Group by 195.8% during the 1st quarter. Dynamic Wealth Strategies LLC now owns 210 shares of the real estate investment trust's stock worth $39,000 after acquiring an additional 139 shares in the last quarter. 93.01% of the stock is currently owned by hedge funds and other institutional investors.

Simon Property Group Price Performance

SPG stock opened at $204.73 on Friday. Simon Property Group has a 52-week low of $172.19 and a 52-week high of $238.50. The company has a quick ratio of 1.05, a current ratio of 1.05 and a debt-to-equity ratio of 5.19. The stock has a market cap of $66.24 billion, a price-to-earnings ratio of 14.44, a price-to-earnings-growth ratio of 3.08 and a beta of 1.28. The business has a fifty day moving average of $217.06 and a two-hundred day moving average of $208.96.

Simon Property Group (NYSE:SPG - Get Free Report) last announced its quarterly earnings results on Monday, August 10th. The real estate investment trust reported $1.49 EPS for the quarter, missing the consensus estimate of $1.64 by ($0.15). The business had revenue of $1.79 billion during the quarter, compared to analyst estimates of $1.61 billion. Simon Property Group had a net margin of 66.56% and a return on equity of 89.32%. The business's revenue for the quarter was up 19.5% on a year-over-year basis. During the same period last year, the company earned $1.70 EPS. Simon Property Group has set its FY 2026 guidance at 13.200-13.300 EPS. As a group, research analysts anticipate that Simon Property Group will post 13.23 earnings per share for the current year.

Simon Property Group Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Wednesday, September 30th. Shareholders of record on Wednesday, September 9th will be given a $2.25 dividend. The ex-dividend date of this dividend is Wednesday, September 9th. This represents a $9.00 dividend on an annualized basis and a yield of 4.4%. Simon Property Group's payout ratio is presently 63.47%.

Simon Property Group Company Profile

Simon Property Group, Inc is a self-administered and self-managed real estate investment trust that owns, develops and operates premier shopping, dining, entertainment and mixed-use destinations. Its portfolio includes regional malls, premium outlet centers and The Mills properties, serving consumers and retail tenants through a range of high-quality commercial properties.

The company generates revenue primarily by leasing retail and commercial space to national, regional and local retailers, restaurants and other businesses.

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