Simon Property Group, Inc. (NYSE:SPG) Receives $140.22 Average Target Price from Brokerages

Simon Property Group, Inc. (NYSE:SPG - Get Free Report) has received an average rating of "Moderate Buy" from the eight ratings firms that are presently covering the company, MarketBeat Ratings reports. Four equities research analysts have rated the stock with a hold rating and four have given a buy rating to the company. The average 12 month price target among brokerages that have issued ratings on the stock in the last year is $140.22.

A number of brokerages have weighed in on SPG. Piper Sandler lifted their price target on shares of Simon Property Group from $148.00 to $172.00 and gave the company an "overweight" rating in a research note on Wednesday, December 20th. Evercore ISI lifted their price target on shares of Simon Property Group from $142.00 to $150.00 and gave the company an "in-line" rating in a research note on Wednesday, February 28th. The Goldman Sachs Group lifted their price target on shares of Simon Property Group from $144.00 to $161.00 and gave the company a "buy" rating in a research note on Thursday, December 21st. Morgan Stanley boosted their price objective on shares of Simon Property Group from $143.00 to $145.00 and gave the stock an "equal weight" rating in a research report on Monday, February 26th. Finally, StockNews.com raised shares of Simon Property Group from a "hold" rating to a "buy" rating in a research report on Tuesday.

Hedge Funds Weigh In On Simon Property Group

Several institutional investors and hedge funds have recently modified their holdings of the stock. Rise Advisors LLC increased its holdings in shares of Simon Property Group by 145.9% in the first quarter. Rise Advisors LLC now owns 273 shares of the real estate investment trust's stock valued at $43,000 after purchasing an additional 162 shares during the last quarter. Pensionfund Sabic increased its holdings in shares of Simon Property Group by 25.4% in the first quarter. Pensionfund Sabic now owns 29,606 shares of the real estate investment trust's stock valued at $4,633,000 after purchasing an additional 6,000 shares during the last quarter. GAMMA Investing LLC increased its holdings in shares of Simon Property Group by 11.5% in the first quarter. GAMMA Investing LLC now owns 2,921 shares of the real estate investment trust's stock valued at $457,000 after purchasing an additional 301 shares during the last quarter. Los Angeles Capital Management LLC increased its holdings in shares of Simon Property Group by 11.9% in the first quarter. Los Angeles Capital Management LLC now owns 4,524 shares of the real estate investment trust's stock valued at $708,000 after purchasing an additional 481 shares during the last quarter. Finally, CWM LLC increased its holdings in shares of Simon Property Group by 7.9% in the first quarter. CWM LLC now owns 7,459 shares of the real estate investment trust's stock valued at $1,167,000 after purchasing an additional 545 shares during the last quarter. 93.01% of the stock is currently owned by institutional investors and hedge funds.

Simon Property Group Trading Down 0.1 %

NYSE SPG traded down $0.17 during trading on Tuesday, reaching $150.19. 1,006,501 shares of the stock traded hands, compared to its average volume of 1,534,960. The firm has a market cap of $48.95 billion, a price-to-earnings ratio of 21.52, a price-to-earnings-growth ratio of 7.88 and a beta of 1.65. The stock's 50-day moving average price is $149.14 and its 200 day moving average price is $133.93. The company has a quick ratio of 1.77, a current ratio of 1.77 and a debt-to-equity ratio of 7.54. Simon Property Group has a fifty-two week low of $100.17 and a fifty-two week high of $157.82.

Simon Property Group (NYSE:SPG - Get Free Report) last announced its quarterly earnings results on Monday, February 5th. The real estate investment trust reported $2.29 earnings per share for the quarter, missing analysts' consensus estimates of $3.34 by ($1.05). Simon Property Group had a net margin of 42.30% and a return on equity of 70.97%. The company had revenue of $1.53 billion during the quarter, compared to the consensus estimate of $1.38 billion. During the same period in the previous year, the firm posted $3.15 EPS. The business's quarterly revenue was up 9.1% compared to the same quarter last year. Analysts predict that Simon Property Group will post 12.06 EPS for the current year.

Simon Property Group announced that its board has initiated a stock buyback program on Thursday, February 8th that permits the company to buyback $2.00 billion in outstanding shares. This buyback authorization permits the real estate investment trust to repurchase up to 4.2% of its shares through open market purchases. Shares buyback programs are usually a sign that the company's management believes its stock is undervalued.

Simon Property Group Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, March 29th. Shareholders of record on Friday, March 8th were given a dividend of $1.95 per share. This is a positive change from Simon Property Group's previous quarterly dividend of $1.90. This represents a $7.80 annualized dividend and a yield of 5.19%. The ex-dividend date of this dividend was Thursday, March 7th. Simon Property Group's dividend payout ratio is 111.75%.

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.