Simon Property Group, Inc. (NYSE:SPG) Given Average Rating of "Hold" by Analysts

Key Points

• Simon Property Group, Inc. (NYSE: SPG) has received a consensus rating of "Hold" from eleven ratings firms, with six ratings at hold and five at buy.
• The company recently increased its quarterly dividend to $2.15 per share, reflecting confidence in its financial performance.
• The stock is currently trading at approximately $173.45, with a market capitalization of $56.63 billion and a year-over-year revenue increase of 13.9%.

Shares of Simon Property Group, Inc. (NYSE:SPG - Get Free Report) have earned a consensus rating of "Hold" from the eleven ratings firms that are covering the stock, Marketbeat reports. Six research analysts have rated the stock with a hold rating and five have given a buy rating to the company. The average 1 year price target among brokerages that have updated their coverage on the stock in the last year is $182.6364.

A number of brokerages recently issued reports on SPG. JPMorgan Chase & Co. decreased their price objective on Simon Property Group from $192.00 to $180.00 and set a "neutral" rating for the company in a report on Thursday, May 22nd. Mizuho decreased their price objective on Simon Property Group from $182.00 to $169.00 and set a "neutral" rating for the company in a report on Tuesday, June 10th. Stifel Nicolaus set a $179.00 price objective on Simon Property Group and gave the stock a "buy" rating in a report on Tuesday, August 5th. LADENBURG THALM/SH SH began coverage on Simon Property Group in a report on Friday, July 18th. They issued a "buy" rating and a $225.00 price objective for the company. Finally, Scotiabank increased their price objective on Simon Property Group from $159.00 to $163.00 and gave the stock a "sector perform" rating in a report on Tuesday, June 17th.

Simon Property Group Stock Down 0.4%

NYSE:SPG opened at $173.4530 on Friday. The firm has a market capitalization of $56.63 billion, a PE ratio of 26.81, a price-to-earnings-growth ratio of 10.53 and a beta of 1.48. The stock has a 50 day moving average of $164.41 and a 200-day moving average of $164.75. Simon Property Group has a 52 week low of $136.34 and a 52 week high of $190.13. The company has a current ratio of 1.23, a quick ratio of 1.23 and a debt-to-equity ratio of 9.05.

Simon Property Group (NYSE:SPG - Get Free Report) last posted its earnings results on Monday, August 4th. The real estate investment trust reported $3.05 EPS for the quarter, beating the consensus estimate of $3.04 by $0.01. The company had revenue of $1.50 billion during the quarter, compared to analyst estimates of $1.40 billion. Simon Property Group had a return on equity of 72.38% and a net margin of 36.78%.The business's revenue was up 13.9% compared to the same quarter last year. During the same period in the prior year, the company earned $2.90 earnings per share. Simon Property Group has set its FY 2025 guidance at 12.450-12.650 EPS. Analysts predict that Simon Property Group will post 12.54 EPS for the current year.

Simon Property Group Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 30th. Investors of record on Tuesday, September 9th will be issued a $2.15 dividend. This is a positive change from Simon Property Group's previous quarterly dividend of $2.10. The ex-dividend date of this dividend is Tuesday, September 9th. This represents a $8.60 dividend on an annualized basis and a yield of 5.0%. Simon Property Group's dividend payout ratio is currently 129.83%.

Insiders Place Their Bets

In other news, Director Gary M. Rodkin bought 246 shares of the business's stock in a transaction on Monday, June 30th. The stock was purchased at an average cost of $159.29 per share, for a total transaction of $39,185.34. Following the completion of the transaction, the director directly owned 19,010 shares of the company's stock, valued at approximately $3,028,102.90. This trade represents a 1.31% increase in their position. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Reuben S. Leibowitz bought 522 shares of the business's stock in a transaction on Monday, June 30th. The stock was purchased at an average price of $159.29 per share, with a total value of $83,149.38. Following the completion of the transaction, the director directly owned 58,195 shares of the company's stock, valued at $9,269,881.55. This trade represents a 0.91% increase in their ownership of the stock. The disclosure for this purchase can be found here. Over the last three months, insiders purchased 2,428 shares of company stock worth $387,271. 8.66% of the stock is owned by company insiders.

Institutional Investors Weigh In On Simon Property Group

A number of institutional investors have recently added to or reduced their stakes in SPG. Norges Bank acquired a new stake in Simon Property Group in the second quarter worth approximately $1,051,262,000. Nuveen LLC acquired a new stake in Simon Property Group in the first quarter worth approximately $724,937,000. Principal Financial Group Inc. lifted its position in Simon Property Group by 133.0% in the first quarter. Principal Financial Group Inc. now owns 3,206,458 shares of the real estate investment trust's stock worth $532,529,000 after purchasing an additional 1,830,264 shares during the period. Northern Trust Corp lifted its position in Simon Property Group by 45.9% in the fourth quarter. Northern Trust Corp now owns 5,462,856 shares of the real estate investment trust's stock worth $940,758,000 after purchasing an additional 1,718,398 shares during the period. Finally, JPMorgan Chase & Co. lifted its position in Simon Property Group by 34.2% in the second quarter. JPMorgan Chase & Co. now owns 6,512,383 shares of the real estate investment trust's stock worth $1,046,943,000 after purchasing an additional 1,660,188 shares during the period. 93.01% of the stock is currently owned by institutional investors and hedge funds.

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.

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