Simon Property Group, Inc. (NYSE:SPG) Given Consensus Recommendation of "Hold" by Brokerages

Simon Property Group, Inc. (NYSE:SPG - Get Free Report) has been assigned a consensus rating of "Hold" from the ten brokerages that are presently covering the company, MarketBeat reports. Six equities research analysts have rated the stock with a hold recommendation and four have given a buy recommendation to the company. The average 12 month target price among brokerages that have updated their coverage on the stock in the last year is $178.50.

A number of equities research analysts have recently weighed in on the company. Barclays assumed coverage on Simon Property Group in a research note on Wednesday. They set an "equal weight" rating and a $170.00 price target on the stock. Mizuho lowered their price target on Simon Property Group from $182.00 to $169.00 and set a "neutral" rating for the company in a research report on Tuesday, June 10th. JPMorgan Chase & Co. cut their price objective on Simon Property Group from $192.00 to $180.00 and set a "neutral" rating on the stock in a report on Thursday, May 22nd. Scotiabank lifted their target price 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. Finally, Wall Street Zen downgraded shares of Simon Property Group from a "buy" rating to a "hold" rating in a report on Saturday, March 29th.

Insider Activity

In related news, Director Glyn Aeppel purchased 234 shares of the business's stock in a transaction that occurred on Monday, June 30th. The stock was bought at an average price of $159.29 per share, with a total value of $37,273.86. Following the acquisition, the director owned 19,057 shares in the company, valued at $3,035,589.53. The trade was a 1.24% increase in their ownership of the stock. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Reuben S. Leibowitz acquired 522 shares of the stock in a transaction that occurred on Monday, June 30th. The stock was purchased at an average price of $159.29 per share, for a total transaction of $83,149.38. Following the completion of the acquisition, the director owned 58,195 shares in the company, valued at $9,269,881.55. The trade was a 0.91% increase in their position. The disclosure for this purchase can be found here. Over the last ninety days, insiders have bought 2,386 shares of company stock worth $380,066. Insiders own 8.66% of the company's stock.

Hedge Funds Weigh In On Simon Property Group

A number of institutional investors and hedge funds have recently bought and sold shares of the business. Park Square Financial Group LLC boosted its position in shares of Simon Property Group by 108.0% during the 1st quarter. Park Square Financial Group LLC now owns 156 shares of the real estate investment trust's stock valued at $26,000 after acquiring an additional 81 shares during the last quarter. Hopwood Financial Services Inc. purchased a new position in Simon Property Group during the fourth quarter worth about $28,000. Richardson Financial Services Inc. boosted its holdings in Simon Property Group by 185.0% in the 1st quarter. Richardson Financial Services Inc. now owns 171 shares of the real estate investment trust's stock valued at $28,000 after purchasing an additional 111 shares during the last quarter. Caisse Des Depots ET Consignations acquired a new position in Simon Property Group in the 4th quarter valued at about $31,000. Finally, Continuum Advisory LLC increased its holdings in shares of Simon Property Group by 421.6% during the 1st quarter. Continuum Advisory LLC now owns 193 shares of the real estate investment trust's stock worth $32,000 after buying an additional 156 shares during the last quarter. 93.01% of the stock is currently owned by institutional investors and hedge funds.

Simon Property Group Stock Up 1.0%

NYSE SPG opened at $165.86 on Thursday. The company has a quick ratio of 1.45, a current ratio of 1.45 and a debt-to-equity ratio of 8.29. Simon Property Group has a 52 week low of $136.34 and a 52 week high of $190.14. The firm has a market capitalization of $54.14 billion, a price-to-earnings ratio of 26.41, a PEG ratio of 9.16 and a beta of 1.43. The company has a fifty day moving average of $160.46 and a two-hundred day moving average of $166.61.

Simon Property Group (NYSE:SPG - Get Free Report) last released its earnings results on Monday, May 12th. The real estate investment trust reported $2.95 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.91 by $0.04. The firm had revenue of $1.47 billion during the quarter, compared to analyst estimates of $1.34 billion. Simon Property Group had a net margin of 35.98% and a return on equity of 67.32%. The business's revenue was up 2.1% on a year-over-year basis. During the same quarter last year, the business earned $3.56 EPS. On average, analysts predict that Simon Property Group will post 12.54 earnings per share for the current year.

Simon Property Group Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, June 30th. Stockholders of record on Monday, June 9th were paid a dividend of $2.10 per share. This represents a $8.40 annualized dividend and a dividend yield of 5.06%. The ex-dividend date of this dividend was Monday, June 9th. Simon Property Group's payout ratio is 133.76%.

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.

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