Simon Property Group, Inc. (NYSE:SPG) Receives $179.67 Average Target Price from Analysts

Simon Property Group, Inc. (NYSE:SPG - Get Free Report) has been assigned an average recommendation of "Moderate Buy" from the nine research firms that are presently covering the stock, Marketbeat Ratings reports. Four analysts have rated the stock with a hold recommendation and five have given a buy recommendation to the company. The average 12-month price objective among brokers that have issued a report on the stock in the last year is $179.67.

A number of equities analysts have recently commented on SPG shares. Scotiabank cut their target price on shares of Simon Property Group from $186.00 to $159.00 and set a "sector perform" rating on the stock in a report on Wednesday, April 23rd. Stifel Nicolaus raised their price objective on shares of Simon Property Group from $168.50 to $180.00 and gave the stock a "buy" rating in a research report on Tuesday. StockNews.com lowered shares of Simon Property Group from a "buy" rating to a "hold" rating in a research note on Saturday, March 29th. Finally, Piper Sandler upgraded shares of Simon Property Group from a "neutral" rating to an "overweight" rating and increased their target price for the stock from $175.00 to $205.00 in a research note on Wednesday, February 5th.

Institutional Investors Weigh In On Simon Property Group

Institutional investors have recently added to or reduced their stakes in the business. Harbor Capital Advisors Inc. lifted its holdings in Simon Property Group by 2.5% in the fourth quarter. Harbor Capital Advisors Inc. now owns 6,343 shares of the real estate investment trust's stock valued at $1,092,000 after acquiring an additional 154 shares during the period. Czech National Bank lifted its stake in shares of Simon Property Group by 6.5% in the fourth quarter. Czech National Bank now owns 66,498 shares of the real estate investment trust's stock valued at $11,452,000 after purchasing an additional 4,067 shares during the period. Brookstone Capital Management boosted its holdings in Simon Property Group by 2.6% during the fourth quarter. Brookstone Capital Management now owns 21,728 shares of the real estate investment trust's stock worth $3,742,000 after buying an additional 558 shares in the last quarter. Wedmont Private Capital boosted its holdings in Simon Property Group by 3.3% during the fourth quarter. Wedmont Private Capital now owns 6,727 shares of the real estate investment trust's stock worth $1,150,000 after buying an additional 216 shares in the last quarter. Finally, Miracle Mile Advisors LLC grew its position in Simon Property Group by 77.3% during the fourth quarter. Miracle Mile Advisors LLC now owns 16,230 shares of the real estate investment trust's stock worth $2,795,000 after buying an additional 7,075 shares during the period. Hedge funds and other institutional investors own 93.01% of the company's stock.

Simon Property Group Stock Up 1.3%

NYSE:SPG traded up $2.12 during trading hours on Wednesday, hitting $165.15. The company's stock had a trading volume of 1,352,577 shares, compared to its average volume of 1,528,851. Simon Property Group has a 52-week low of $136.34 and a 52-week high of $190.14. The company has a current ratio of 1.28, a quick ratio of 2.00 and a debt-to-equity ratio of 7.19. The stock has a market capitalization of $53.89 billion, a P/E ratio of 22.75, a price-to-earnings-growth ratio of 10.10 and a beta of 1.43. The stock has a fifty day moving average of $158.09 and a 200-day moving average of $170.89.

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

Simon Property Group Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Monday, June 30th. Investors of record on Monday, June 9th will be given a $2.10 dividend. The ex-dividend date is Monday, June 9th. This represents a $8.40 dividend on an annualized basis and a yield of 5.09%. Simon Property Group's payout ratio is currently 115.70%.

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.