Simon Property Group, Inc. (NYSE:SPG) Receives $147.60 Average Target Price from Analysts

Simon Property Group, Inc. (NYSE:SPG) has been given a consensus recommendation of “Moderate Buy” by the ten ratings firms that are presently covering the company, Marketbeat Ratings reports. Five analysts have rated the stock with a hold recommendation and five have assigned a buy recommendation to the company. The average 1 year price target among analysts that have issued a report on the stock in the last year is $147.60.

A number of equities research analysts have issued reports on SPG shares. StockNews.com upgraded Simon Property Group from a “hold” rating to a “buy” rating in a research note on Thursday, April 18th. Argus raised their price objective on Simon Property Group from $157.00 to $168.00 and gave the company a “buy” rating in a research report on Tuesday, June 11th. Scotiabank raised their price objective on Simon Property Group from $142.00 to $152.00 and gave the company a “sector perform” rating in a research report on Thursday, May 16th. Evercore ISI raised their price objective on Simon Property Group from $142.00 to $150.00 and gave the company an “in-line” rating in a research report on Wednesday, February 28th. Finally, Truist Financial raised their price objective on Simon Property Group from $139.00 to $147.00 and gave the company a “hold” rating in a research report on Friday, March 22nd.

Simon Property Group Price Performance

NYSE SPG opened at $147.87 on Friday. The business’s fifty day moving average price is $147.08 and its 200-day moving average price is $146.48. The stock has a market capitalization of $48.20 billion, a price-to-earnings ratio of 18.84, a PEG ratio of 8.69 and a beta of 1.71. The company has a debt-to-equity ratio of 7.20, a current ratio of 2.19 and a quick ratio of 2.19. Simon Property Group has a 1-year low of $102.11 and a 1-year high of $157.82.

Simon Property Group (NYSE:SPG) last released its quarterly earnings results on Monday, May 6th. The real estate investment trust reported $2.25 earnings per share for the quarter, missing the consensus estimate of $2.80 by ($0.55). The firm had revenue of $1.44 billion for the quarter, compared to the consensus estimate of $1.31 billion. Simon Property Group had a net margin of 46.49% and a return on equity of 78.50%. Simon Property Group’s quarterly revenue was up 6.8% compared to the same quarter last year. During the same period in the previous year, the company earned $2.74 earnings per share. On average, equities analysts predict that Simon Property Group will post 12.84 earnings per share for the current year.

Simon Property Group Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, June 28th. Investors of record on Friday, June 7th will be issued a $2.00 dividend. This is an increase from Simon Property Group’s previous quarterly dividend of $1.95. The ex-dividend date is Friday, June 7th. This represents a $8.00 dividend on an annualized basis and a dividend yield of 5.41%. Simon Property Group’s dividend payout ratio (DPR) is presently 101.91%.

Institutional Trading of Simon Property Group

Several institutional investors have recently added to or reduced their stakes in SPG. Norges Bank bought a new stake in Simon Property Group in the fourth quarter worth about $2,561,181,000. International Assets Investment Management LLC lifted its stake in Simon Property Group by 13,226.4% in the fourth quarter. International Assets Investment Management LLC now owns 920,586 shares of the real estate investment trust’s stock worth $131,312,000 after purchasing an additional 913,678 shares during the last quarter. Vanguard Group Inc. lifted its stake in Simon Property Group by 1.5% in the first quarter. Vanguard Group Inc. now owns 46,380,446 shares of the real estate investment trust’s stock worth $7,258,076,000 after purchasing an additional 672,941 shares during the last quarter. Panagora Asset Management Inc. lifted its stake in Simon Property Group by 11,722.9% in the fourth quarter. Panagora Asset Management Inc. now owns 672,724 shares of the real estate investment trust’s stock worth $95,957,000 after purchasing an additional 667,034 shares during the last quarter. Finally, Duff & Phelps Investment Management Co. lifted its stake in Simon Property Group by 160.1% in the fourth quarter. Duff & Phelps Investment Management Co. now owns 763,371 shares of the real estate investment trust’s stock worth $108,887,000 after purchasing an additional 469,855 shares during the last quarter. Institutional investors own 93.01% of the company’s stock.

About Simon Property Group

Simon is a real estate investment trust engaged in the ownership of premier shopping, dining, entertainment and mixed-use destinations and an S&P 100 company (Simon Property Group, NYSE: SPG). Our properties across North America, Europe and Asia provide community gathering places for millions of people every day and generate billions in annual sales.