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

Key Points

• Simon Property Group, Inc. has received an average recommendation of "Hold" from fourteen analysts, with nine ratings as hold and five as buy, and an average price target of $187.23.
• The company has increased its quarterly dividend to $2.15 per share, up from $2.10, reflecting a yield of 4.9% and a payout ratio of 132.92%.
• Simon Property Group's stock is trading slightly down at $175.39 with a 52-week low of $136.34 and a high of $190.13, and a market capitalization of $57.26 billion.

Shares of Simon Property Group, Inc. (NYSE:SPG - Get Free Report) have received an average recommendation of "Hold" from the fourteen analysts that are currently covering the firm, MarketBeat.com reports. Nine research analysts have rated the stock with a hold recommendation and five have issued a buy recommendation on the company. The average 1 year price objective among brokerages that have issued ratings on the stock in the last year is $187.2308.

Several research analysts have recently issued reports on SPG shares. Morgan Stanley increased their target price on Simon Property Group from $170.00 to $180.00 and gave the stock an "equal weight" rating in a research report on Thursday, September 11th. JPMorgan Chase & Co. increased their target price on Simon Property Group from $180.00 to $184.00 and gave the stock a "neutral" rating in a research report on Friday, August 22nd. Piper Sandler increased their target price on Simon Property Group from $200.00 to $210.00 and gave the stock an "overweight" rating in a research report on Thursday, September 18th. Barclays raised their price objective on Simon Property Group from $170.00 to $180.00 and gave the company an "equal weight" rating in a research report on Monday. Finally, Evercore ISI reaffirmed an "in-line" rating and set a $187.00 price objective (up previously from $183.00) on shares of Simon Property Group in a research report on Monday, September 15th.

Insider Activity at Simon Property Group

In other Simon Property Group news, Director Glyn Aeppel bought 208 shares of the business's stock in a transaction on Tuesday, September 30th. The shares were acquired at an average cost of $185.95 per share, for a total transaction of $38,677.60. Following the purchase, the director owned 19,265 shares in the company, valued at approximately $3,582,326.75. This trade represents a 1.09% increase in their position. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Reuben S. Leibowitz bought 464 shares of the business's stock in a transaction on Tuesday, September 30th. The shares were acquired at an average price of $185.95 per share, for a total transaction of $86,280.80. Following the completion of the purchase, the director owned 58,659 shares in the company, valued at approximately $10,907,641.05. The trade was a 0.80% increase in their position. The disclosure for this purchase can be found here. Insiders have purchased 2,163 shares of company stock worth $401,605 over the last quarter. 8.66% of the stock is currently owned by company insiders.

Institutional Trading of Simon Property Group

Several institutional investors have recently added to or reduced their stakes in the business. Sound Income Strategies LLC boosted its stake in Simon Property Group by 1.8% during the 3rd quarter. Sound Income Strategies LLC now owns 120,729 shares of the real estate investment trust's stock valued at $21,591,000 after purchasing an additional 2,108 shares during the last quarter. Flputnam Investment Management Co. purchased a new stake in Simon Property Group during the 3rd quarter valued at $225,000. Focus Financial Network Inc. purchased a new stake in Simon Property Group during the 3rd quarter valued at $204,000. Meadowbrook Wealth Management LLC purchased a new stake in Simon Property Group during the 3rd quarter valued at $1,045,000. Finally, U.S. Capital Wealth Advisors LLC boosted its stake in Simon Property Group by 12.2% during the 3rd quarter. U.S. Capital Wealth Advisors LLC now owns 1,465 shares of the real estate investment trust's stock valued at $275,000 after purchasing an additional 159 shares during the last quarter. 93.01% of the stock is currently owned by hedge funds and other institutional investors.

Simon Property Group Stock Down 1.9%

Shares of NYSE:SPG opened at $175.39 on Friday. Simon Property Group has a 52-week low of $136.34 and a 52-week high of $190.13. The firm has a market capitalization of $57.26 billion, a P/E ratio of 27.11, a P/E/G ratio of 10.83 and a beta of 1.50. The stock has a 50 day moving average price of $178.12 and a 200-day moving average price of $165.96. The company has a debt-to-equity ratio of 9.05, a quick ratio of 1.23 and a current ratio of 1.23.

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

Simon Property Group Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, September 30th. Investors of record on Tuesday, September 9th were given a dividend of $2.15 per share. This is a boost from Simon Property Group's previous quarterly dividend of $2.10. The ex-dividend date of this dividend was Tuesday, September 9th. This represents a $8.60 dividend on an annualized basis and a yield of 4.9%. Simon Property Group's dividend payout ratio is 132.92%.

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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