Simon Property Group, Inc. (NYSE:SPG) Receives Consensus Rating of "Hold" from Analysts

Key Points

• Analysts have given Simon Property Group a consensus rating of "Hold", with nine analysts recommending holding the stock and four suggesting a buy; the average 1-year target price is $185.69.
• Simon Property Group reported $3.05 earnings per share for the last quarter, beating expectations, with revenue reaching $1.50 billion, a 13.9% increase year-over-year.
• The company has increased its quarterly dividend to $2.15 per share, with an annual yield of 4.7%, reflecting a positive change from its previous dividend amount.

Shares of Simon Property Group, Inc. (NYSE:SPG - Get Free Report) have earned a consensus recommendation of "Hold" from the thirteen analysts that are presently covering the stock, Marketbeat Ratings reports. Nine investment analysts have rated the stock with a hold recommendation and four have assigned a buy recommendation to the company. The average 1-year target price among analysts that have updated their coverage on the stock in the last year is $185.6923.

Several equities analysts have recently issued reports on the company. Morgan Stanley upped their price target on Simon Property Group from $170.00 to $180.00 and gave the company an "equal weight" rating in a research note on Thursday, September 11th. Stifel Nicolaus lowered Simon Property Group from a "buy" rating to a "hold" rating and set a $179.00 price target on the stock. in a research note on Tuesday, September 2nd. Evercore ISI reissued an "in-line" rating and issued a $187.00 target price (up previously from $183.00) on shares of Simon Property Group in a research note on Monday. Argus reissued a "buy" rating and issued a $185.00 target price on shares of Simon Property Group in a research note on Friday, September 5th. Finally, Piper Sandler cut their target price on Simon Property Group from $205.00 to $200.00 and set an "overweight" rating on the stock in a research note on Friday, May 23rd.

Insider Transactions at Simon Property Group

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

Institutional Trading of Simon Property Group

A number of large investors have recently bought and sold shares of the business. Legacy Wealth Asset Management LLC increased its stake in Simon Property Group by 0.5% during the 2nd quarter. Legacy Wealth Asset Management LLC now owns 13,768 shares of the real estate investment trust's stock worth $2,213,000 after purchasing an additional 66 shares in the last quarter. Great Lakes Advisors LLC increased its stake in Simon Property Group by 3.7% during the 1st quarter. Great Lakes Advisors LLC now owns 1,908 shares of the real estate investment trust's stock worth $317,000 after purchasing an additional 68 shares in the last quarter. Wedmont Private Capital increased its stake in Simon Property Group by 1.0% during the 2nd quarter. Wedmont Private Capital now owns 7,040 shares of the real estate investment trust's stock worth $1,147,000 after purchasing an additional 68 shares in the last quarter. PFS Partners LLC increased its stake in Simon Property Group by 13.6% during the 2nd quarter. PFS Partners LLC now owns 568 shares of the real estate investment trust's stock worth $91,000 after purchasing an additional 68 shares in the last quarter. Finally, Sumitomo Life Insurance Co. increased its stake in Simon Property Group by 1.6% during the 1st quarter. Sumitomo Life Insurance Co. now owns 4,471 shares of the real estate investment trust's stock worth $743,000 after purchasing an additional 70 shares in the last quarter. 93.01% of the stock is owned by institutional investors.

Simon Property Group Stock Performance

Shares of NYSE:SPG opened at $183.97 on Tuesday. The business's fifty day moving average price is $171.11 and its two-hundred day moving average price is $164.14. Simon Property Group has a fifty-two week low of $136.34 and a fifty-two week high of $190.13. The stock has a market capitalization of $60.07 billion, a price-to-earnings ratio of 28.43, a price-to-earnings-growth ratio of 11.05 and a beta of 1.50. The company has a debt-to-equity ratio of 9.05, a current ratio of 1.23 and a quick ratio of 1.23.

Simon Property Group (NYSE:SPG - Get Free Report) last issued its quarterly earnings results on Monday, August 4th. The real estate investment trust reported $3.05 earnings per share (EPS) for the quarter, beating 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 business had revenue of $1.50 billion for the quarter, compared to analyst estimates of $1.40 billion. During the same quarter in the prior year, the firm posted $2.90 earnings per share. The firm's revenue for the quarter 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, analysts predict that Simon Property Group will post 12.54 EPS for the current fiscal year.

Simon Property Group Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, September 30th. Shareholders of record on Tuesday, September 9th will be paid a $2.15 dividend. The ex-dividend date of this dividend is Tuesday, September 9th. This is a positive change from Simon Property Group's previous quarterly dividend of $2.10. This represents a $8.60 annualized dividend and a yield of 4.7%. Simon Property Group's payout ratio is currently 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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