Simon Property Group (NYSE:SPG) Coverage Initiated by Analysts at Deutsche Bank Aktiengesellschaft

Deutsche Bank Aktiengesellschaft initiated coverage on shares of Simon Property Group (NYSE:SPG) in a report released on Tuesday morning, MarketBeat Ratings reports. The firm issued a hold rating and a $195.00 target price on the real estate investment trust’s stock.

Several other research analysts have also recently weighed in on the company. Truist Financial increased their price objective on Simon Property Group from $147.00 to $158.00 and gave the stock a “hold” rating in a research report on Wednesday, August 28th. Scotiabank raised their price target on shares of Simon Property Group from $152.00 to $169.00 and gave the stock a “sector perform” rating in a research report on Monday, August 26th. Evercore ISI raised Simon Property Group from an “in-line” rating to an “outperform” rating and lifted their price objective for the company from $160.00 to $172.00 in a report on Monday, September 16th. Mizuho upped their price target 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. Finally, Piper Sandler reaffirmed a “neutral” rating and issued a $175.00 price objective (down from $190.00) on shares of Simon Property Group in a research note on Tuesday, September 3rd. Eight research analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. According to data from MarketBeat, the company has an average rating of “Hold” and a consensus target price of $168.40.

Simon Property Group Stock Performance

NYSE SPG opened at $169.26 on Tuesday. The stock has a market cap of $55.23 billion, a PE ratio of 22.54, a P/E/G ratio of 10.50 and a beta of 1.75. The company has a debt-to-equity ratio of 8.20, a quick ratio of 2.00 and a current ratio of 2.00. The firm has a 50-day moving average of $177.27 and a 200-day moving average of $164.31. Simon Property Group has a 52-week low of $135.15 and a 52-week high of $186.00.

Simon Property Group (NYSE:SPG) last issued its quarterly earnings data on Friday, November 1st. The real estate investment trust reported $1.46 earnings per share (EPS) for the quarter, missing the consensus estimate of $3.00 by ($1.54). Simon Property Group had a return on equity of 76.21% and a net margin of 43.36%. The company had revenue of $1.48 billion for the quarter, compared to analyst estimates of $1.32 billion. During the same quarter last year, the business earned $3.20 earnings per share. The company’s revenue was up 4.9% on a year-over-year basis. On average, sell-side 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. Stockholders of record on Monday, December 9th will be given a dividend of $2.10 per share. This represents a $8.40 dividend on an annualized basis and a dividend yield of 4.96%. This is an increase from Simon Property Group’s previous quarterly dividend of $2.05. The ex-dividend date of this dividend is Monday, December 9th. Simon Property Group’s dividend payout ratio (DPR) is 111.85%.

Insider Activity at Simon Property Group

In other news, Director Allan B. Hubbard purchased 370 shares of the company’s stock in a transaction dated Monday, September 30th. The shares were purchased at an average price of $167.30 per share, for a total transaction of $61,901.00. Following the transaction, the director now owns 34,301 shares of the company’s stock, valued at approximately $5,738,557.30. This trade represents a 1.09 % increase in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. 8.50% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Simon Property Group

A number of hedge funds have recently bought and sold shares of the company. Wetzel Investment Advisors Inc. acquired a new stake in Simon Property Group during the 2nd quarter worth about $27,000. RFP Financial Group LLC grew its stake in Simon Property Group by 727.3% during the second quarter. RFP Financial Group LLC now owns 182 shares of the real estate investment trust’s stock worth $28,000 after purchasing an additional 160 shares during the period. Capital Performance Advisors LLP acquired a new stake in Simon Property Group during the third quarter worth approximately $30,000. Trivant Custom Portfolio Group LLC acquired a new position in Simon Property Group in the third quarter valued at approximately $42,000. Finally, Eastern Bank bought a new position in shares of Simon Property Group during the 3rd quarter worth approximately $42,000. Institutional investors own 93.01% of the company’s stock.

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.