By otakuyassine3@gmail.com 
Simon Property Group, Inc. (NYSE:SPG – Get Free Report) has earned a consensus rating of “Hold” from the nine ratings firms that are covering the firm, Marketbeat.com reports. Seven investment analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. The average 1-year target price among analysts that have updated their coverage on the stock in the last year is $169.22.
SPG has been the topic of a number of analyst reports. Stifel Nicolaus reaffirmed a “hold” rating and issued a $159.00 price objective (up previously from $157.50) on shares of Simon Property Group in a report on Thursday, September 12th. Scotiabank upped their price objective on Simon Property Group from $152.00 to $169.00 and gave the stock a “sector perform” rating in a report on Monday, August 26th. Deutsche Bank Aktiengesellschaft started coverage on Simon Property Group in a report on Tuesday, December 17th. They issued a “hold” rating and a $195.00 target price for the company. Truist Financial increased their price target on shares of Simon Property Group from $147.00 to $158.00 and gave the company a “hold” rating in a report on Wednesday, August 28th. Finally, Mizuho boosted their price objective on shares of Simon Property Group from $158.00 to $182.00 and gave the stock a “neutral” rating in a report on Wednesday, December 4th.
Insider Activity at Simon Property Group
In related news, Director Allan B. Hubbard purchased 370 shares of the business’s stock in a transaction dated Monday, September 30th. The stock was bought at an average cost of $167.30 per share, with a total value of $61,901.00. Following the completion of the acquisition, the director now directly owns 34,301 shares in the company, valued at $5,738,557.30. The trade was a 1.09 % increase in their position. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. 8.50% of the stock is owned by corporate insiders.
Institutional Trading of Simon Property Group
A number of large investors have recently made changes to their positions in the stock. Oddo BHF Asset Management Sas acquired a new stake in shares of Simon Property Group during the 3rd quarter worth about $1,144,000. Inspire Trust Co. N.A. boosted its position in Simon Property Group by 8.7% during the third quarter. Inspire Trust Co. N.A. now owns 12,500 shares of the real estate investment trust’s stock worth $2,113,000 after acquiring an additional 1,000 shares during the last quarter. Synovus Financial Corp grew its stake in Simon Property Group by 50.7% in the 3rd quarter. Synovus Financial Corp now owns 2,607 shares of the real estate investment trust’s stock worth $440,000 after acquiring an additional 877 shares during the period. Blankinship & Foster LLC acquired a new position in Simon Property Group in the 3rd quarter valued at $608,000. Finally, Wilmington Savings Fund Society FSB purchased a new position in shares of Simon Property Group during the 3rd quarter worth $834,000. Institutional investors and hedge funds own 93.01% of the company’s stock.
Simon Property Group Stock Up 1.4 %
SPG opened at $171.61 on Friday. The business has a 50 day moving average price of $177.29 and a two-hundred day moving average price of $164.54. Simon Property Group has a 52 week low of $135.15 and a 52 week high of $186.00. The company has a market cap of $55.99 billion, a PE ratio of 22.85, a P/E/G ratio of 10.50 and a beta of 1.75. The company has a quick ratio of 2.00, a current ratio of 2.00 and a debt-to-equity ratio of 8.20.
Simon Property Group (NYSE:SPG – Get Free Report) last posted its quarterly earnings data on Friday, November 1st. The real estate investment trust reported $1.46 earnings per share for the quarter, missing analysts’ consensus estimates of $3.00 by ($1.54). The firm had revenue of $1.48 billion during the quarter, compared to analysts’ expectations of $1.32 billion. Simon Property Group had a net margin of 43.36% and a return on equity of 76.21%. The business’s quarterly revenue was up 4.9% on a year-over-year basis. During the same quarter last year, the business earned $3.20 earnings per share. As a group, research analysts anticipate that Simon Property Group will post 12.76 EPS for the current year.
Simon Property Group Increases Dividend
The business also recently disclosed a quarterly dividend, which will be paid on Monday, December 30th. Investors of record on Monday, December 9th will be given a dividend of $2.10 per share. This is an increase from Simon Property Group’s previous quarterly dividend of $2.05. This represents a $8.40 annualized dividend and a dividend yield of 4.89%. The ex-dividend date is Monday, December 9th. Simon Property Group’s payout ratio is currently 111.85%.
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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