Simon Property Group (NYSE:SPG) Upgraded to “Buy” at StockNews.com

StockNews.com upgraded shares of Simon Property Group (NYSE:SPG) from a hold rating to a buy rating in a research report sent to investors on Friday morning.

Other equities analysts also recently issued reports about the stock. Mizuho increased their price objective on shares of Simon Property Group from $158.00 to $182.00 and gave the company a “neutral” rating in a research note on Wednesday, December 4th. Scotiabank set a $186.00 price objective on shares of Simon Property Group in a research note on Friday, February 28th. Piper Sandler upgraded shares of Simon Property Group from a “neutral” rating to an “overweight” rating and raised their target price for the company from $175.00 to $205.00 in a research note on Wednesday, February 5th. Jefferies Financial Group upgraded shares of Simon Property Group from a “hold” rating to a “buy” rating and raised their target price for the company from $179.00 to $198.00 in a research note on Thursday, January 2nd. Finally, Deutsche Bank Aktiengesellschaft began coverage on shares of Simon Property Group in a research note on Tuesday, December 17th. They issued a “hold” rating and a $195.00 target price for the company. Five research analysts have rated the stock with a hold rating and five have issued a buy rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $180.33.

Simon Property Group Stock Performance

Shares of NYSE:SPG opened at $162.12 on Friday. The firm has a market cap of $52.90 billion, a PE ratio of 22.33, a price-to-earnings-growth ratio of 10.10 and a beta of 1.78. The firm’s 50 day simple moving average is $176.11 and its 200-day simple moving average is $174.30. Simon Property Group has a one year low of $139.25 and a one year high of $190.14. The company has a debt-to-equity ratio of 7.19, a quick ratio of 2.00 and a current ratio of 1.28.

Simon Property Group (NYSE:SPG) last released its quarterly earnings data on Tuesday, February 4th. The real estate investment trust reported $3.68 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.98 by $1.70. Simon Property Group had a net margin of 41.49% and a return on equity of 74.02%. As a group, equities analysts predict that Simon Property Group will post 12.54 EPS for the current year.

Simon Property Group Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Monday, March 31st. Shareholders of record on Monday, March 10th will be issued a $2.10 dividend. The ex-dividend date is Monday, March 10th. This represents a $8.40 dividend on an annualized basis and a dividend yield of 5.18%. Simon Property Group’s dividend payout ratio is currently 115.70%.

Insiders Place Their Bets

In other Simon Property Group news, Director Reuben S. Leibowitz bought 465 shares of Simon Property Group stock in a transaction that occurred on Monday, December 30th. The stock was purchased at an average price of $168.59 per share, with a total value of $78,394.35. Following the completion of the acquisition, the director now directly owns 55,919 shares in the company, valued at approximately $9,427,384.21. This trade represents a 0.84 % increase in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Corporate insiders own 8.60% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors have recently made changes to their positions in the business. Pitcairn Co. raised its holdings in shares of Simon Property Group by 0.6% during the fourth quarter. Pitcairn Co. now owns 9,895 shares of the real estate investment trust’s stock worth $1,704,000 after purchasing an additional 55 shares during the last quarter. Colonial Trust Co SC raised its holdings in shares of Simon Property Group by 37.5% during the fourth quarter. Colonial Trust Co SC now owns 209 shares of the real estate investment trust’s stock worth $36,000 after purchasing an additional 57 shares during the last quarter. Childress Capital Advisors LLC increased its holdings in Simon Property Group by 3.6% in the fourth quarter. Childress Capital Advisors LLC now owns 1,689 shares of the real estate investment trust’s stock valued at $291,000 after buying an additional 58 shares in the last quarter. Global X Japan Co. Ltd. increased its holdings in Simon Property Group by 9.9% in the fourth quarter. Global X Japan Co. Ltd. now owns 655 shares of the real estate investment trust’s stock valued at $113,000 after buying an additional 59 shares in the last quarter. Finally, HighPoint Advisor Group LLC increased its holdings in Simon Property Group by 1.8% in the fourth quarter. HighPoint Advisor Group LLC now owns 3,396 shares of the real estate investment trust’s stock valued at $626,000 after buying an additional 60 shares in the last quarter. Hedge funds and other 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.