Simon Property Group, Inc. (NYSE:SPG) Receives Average Rating of "Moderate Buy" from Analysts

Simon Property Group, Inc. (NYSE:SPG - Get Free Report) has earned a consensus rating of "Moderate Buy" from the ten ratings firms that are currently covering the firm, MarketBeat reports. Five equities research analysts have rated the stock with a hold rating and five have given a buy rating to the company. The average 12-month price objective among brokerages that have updated their coverage on the stock in the last year is $179.20.

A number of analysts have recently weighed in on SPG shares. Scotiabank lowered their price objective on Simon Property Group from $186.00 to $159.00 and set a "sector perform" rating for the company in a research report on Wednesday, April 23rd. JPMorgan Chase & Co. lowered their price objective on Simon Property Group from $192.00 to $180.00 and set a "neutral" rating for the company in a research report on Thursday, May 22nd. Piper Sandler lowered their price objective on Simon Property Group from $205.00 to $200.00 and set an "overweight" rating for the company in a research report on Friday, May 23rd. Stifel Nicolaus raised their price objective on Simon Property Group from $168.50 to $180.00 and gave the stock a "buy" rating in a research report on Tuesday, May 13th. Finally, Wall Street Zen cut Simon Property Group from a "buy" rating to a "hold" rating in a research report on Saturday, March 29th.

Simon Property Group Trading Up 0.9%

Shares of NYSE:SPG opened at $162.19 on Friday. Simon Property Group has a 12-month low of $136.34 and a 12-month high of $190.14. The business's fifty day simple moving average is $156.92 and its 200-day simple moving average is $169.23. The company has a market capitalization of $52.94 billion, a PE ratio of 22.34, a P/E/G ratio of 10.10 and a beta of 1.47. The company has a current ratio of 1.28, a quick ratio of 2.00 and a debt-to-equity ratio of 7.19.

Simon Property Group (NYSE:SPG - Get Free Report) last announced its quarterly earnings results on Monday, May 12th. The real estate investment trust reported $2.95 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $2.91 by $0.04. Simon Property Group had a return on equity of 74.02% and a net margin of 41.49%. The business had revenue of $1.47 billion for the quarter, compared to the consensus estimate of $1.34 billion. During the same period last year, the business posted $3.56 EPS. The business's revenue was up 2.1% compared to the same quarter last year. As a group, equities research analysts predict that Simon Property Group will post 12.54 earnings per share for the current fiscal year.

Simon Property Group Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Monday, June 30th. Shareholders of record on Monday, June 9th will be given a dividend of $2.10 per share. The ex-dividend date is Monday, June 9th. This represents a $8.40 dividend on an annualized basis and a yield of 5.18%. Simon Property Group's dividend payout ratio is currently 133.76%.

Institutional Trading of Simon Property Group

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the company. Pitcairn Co. lifted its position in Simon Property Group by 0.6% during the 4th quarter. Pitcairn Co. now owns 9,895 shares of the real estate investment trust's stock worth $1,704,000 after acquiring an additional 55 shares during the period. Colonial Trust Co SC lifted its holdings in shares of Simon Property Group by 37.5% in the 4th quarter. Colonial Trust Co SC now owns 209 shares of the real estate investment trust's stock valued at $36,000 after buying an additional 57 shares during the period. Global X Japan Co. Ltd. lifted its holdings in shares of Simon Property Group by 9.9% in the 4th quarter. Global X Japan Co. Ltd. now owns 655 shares of the real estate investment trust's stock valued at $113,000 after buying an additional 59 shares during the period. HighPoint Advisor Group LLC lifted its holdings in shares of Simon Property Group by 1.8% in the 4th quarter. HighPoint Advisor Group LLC now owns 3,396 shares of the real estate investment trust's stock valued at $626,000 after buying an additional 60 shares during the period. Finally, Bleakley Financial Group LLC lifted its holdings in shares of Simon Property Group by 1.0% in the 4th quarter. Bleakley Financial Group LLC now owns 6,237 shares of the real estate investment trust's stock valued at $1,074,000 after buying an additional 62 shares during the period. Institutional investors and hedge funds own 93.01% of the company's stock.

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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