Simon Property Group, Inc. (NYSE:SPG) Receives $172.10 Consensus Target Price from Analysts

Simon Property Group, Inc. (NYSE:SPG) has earned a consensus rating of “Hold” from the ten ratings firms that are currently covering the stock, Marketbeat.com reports. Seven research analysts have rated the stock with a hold rating and three have given a buy rating to the company. The average 1 year target price among brokers that have issued a report on the stock in the last year is $172.10.

SPG has been the subject of a number of analyst reports. 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 research note on Wednesday, December 4th. Deutsche Bank Aktiengesellschaft initiated coverage on shares of Simon Property Group in a research note on Tuesday, December 17th. They set a “hold” rating and a $195.00 target price for the company. Jefferies Financial Group upgraded Simon Property Group from a “hold” rating to a “buy” rating and boosted their price target for the company from $179.00 to $198.00 in a research note on Thursday, January 2nd. Evercore ISI upgraded shares of Simon Property Group from an “in-line” rating to an “outperform” rating and lifted their price target for the stock from $160.00 to $172.00 in a research note on Monday, September 16th. Finally, StockNews.com cut shares of Simon Property Group from a “buy” rating to a “hold” rating in a research note on Thursday, October 10th.

Insider Transactions at Simon Property Group

In other news, Director Reuben S. Leibowitz acquired 465 shares of the firm’s stock in a transaction on Monday, December 30th. The shares were purchased at an average cost of $168.59 per share, with a total value of $78,394.35. Following the acquisition, the director now directly owns 55,919 shares in the company, valued at $9,427,384.21. This represents a 0.84 % increase in their position. The purchase was disclosed in a document filed with the SEC, which is accessible through this link. 8.50% of the stock is owned by company insiders.

Institutional Investors Weigh In On Simon Property Group

A number of large investors have recently bought and sold shares of the company. Harbor Capital Advisors Inc. lifted its holdings in shares of Simon Property Group by 2.5% during the 4th quarter. Harbor Capital Advisors Inc. now owns 6,343 shares of the real estate investment trust’s stock worth $1,092,000 after acquiring an additional 154 shares during the period. ORG Partners LLC boosted its holdings in shares of Simon Property Group by 13.0% during the 4th quarter. ORG Partners LLC now owns 3,403 shares of the real estate investment trust’s stock valued at $587,000 after acquiring an additional 391 shares in the last quarter. First Hawaiian Bank raised its holdings in Simon Property Group by 35.0% in the 4th quarter. First Hawaiian Bank now owns 5,294 shares of the real estate investment trust’s stock valued at $912,000 after buying an additional 1,372 shares during the last quarter. Fulton Bank N.A. acquired a new stake in Simon Property Group during the 4th quarter worth approximately $346,000. Finally, Diversified Trust Co grew its holdings in Simon Property Group by 65.3% during the 4th quarter. Diversified Trust Co now owns 17,319 shares of the real estate investment trust’s stock worth $2,983,000 after acquiring an additional 6,840 shares during the last quarter. 93.01% of the stock is currently owned by institutional investors and hedge funds.

Simon Property Group Stock Down 2.1 %

Shares of Simon Property Group stock opened at $171.01 on Thursday. The stock has a 50-day moving average price of $177.38 and a 200 day moving average price of $166.98. Simon Property Group has a 1 year low of $135.15 and a 1 year high of $186.00. The company has a market cap of $55.80 billion, a P/E ratio of 22.77, a P/E/G ratio of 10.50 and a beta of 1.75. The company has a current ratio of 2.00, a quick ratio of 2.00 and a debt-to-equity ratio of 8.20.

Simon Property Group (NYSE:SPG) last posted its earnings results on Friday, November 1st. The real estate investment trust reported $1.46 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $3.00 by ($1.54). Simon Property Group had a net margin of 43.36% and a return on equity of 76.21%. The business had revenue of $1.48 billion during the quarter, compared to analyst estimates of $1.32 billion. During the same quarter last year, the firm earned $3.20 earnings per share. Simon Property Group’s revenue was up 4.9% compared to the same quarter last year. As a group, analysts expect that Simon Property Group will post 12.76 EPS for the current fiscal year.

Simon Property Group Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, December 30th. Stockholders of record on Monday, December 9th were given a $2.10 dividend. This represents a $8.40 dividend on an annualized basis and a dividend yield of 4.91%. The ex-dividend date was Monday, December 9th. This is an increase from Simon Property Group’s previous quarterly dividend of $2.05. Simon Property Group’s dividend payout ratio (DPR) is 111.85%.

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.