Simon Property Group, Inc. (NYSE:SPG) Receives $180.33 Average Price Target from Analysts

Simon Property Group, Inc. (NYSE:SPG) has received a consensus rating of “Hold” from the nine analysts that are presently covering the firm, Marketbeat.com reports. Five research analysts have rated the stock with a hold recommendation and four have given a buy recommendation to the company. The average 1-year price target among brokerages that have issued a report on the stock in the last year is $180.33.

A number of research analysts recently commented on SPG shares. Jefferies Financial Group raised 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. Mizuho raised their target price on shares of Simon Property Group from $158.00 to $182.00 and gave the company a “neutral” rating in a report on Wednesday, December 4th. Deutsche Bank Aktiengesellschaft began coverage on shares of Simon Property Group in a report on Tuesday, December 17th. They set a “hold” rating and a $195.00 price target for the company. Scotiabank set a $186.00 price objective on shares of Simon Property Group in a research note on Friday, February 28th. Finally, Piper Sandler upgraded shares of Simon Property Group from a “neutral” rating to an “overweight” rating and boosted their price objective for the company from $175.00 to $205.00 in a research report on Wednesday, February 5th.

Insider Transactions at Simon Property Group

In other news, Director Reuben S. Leibowitz purchased 465 shares of Simon Property Group stock in a transaction dated Monday, December 30th. The shares were bought at an average cost of $168.59 per share, for a total transaction of $78,394.35. Following the completion of the acquisition, the director now 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 acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Company insiders own 8.50% of the company’s stock.

Institutional Inflows and Outflows

Large investors have recently added to or reduced their stakes in the business. Chancellor Financial Group WB LP acquired a new position in Simon Property Group in the 4th quarter valued at approximately $213,000. 111 Capital bought a new stake in shares of Simon Property Group in the fourth quarter worth $284,000. Wealth Enhancement Advisory Services LLC increased its holdings in Simon Property Group by 36.2% in the fourth quarter. Wealth Enhancement Advisory Services LLC now owns 23,660 shares of the real estate investment trust’s stock valued at $4,074,000 after purchasing an additional 6,293 shares during the period. Castle Rock Wealth Management LLC raised its position in Simon Property Group by 2.6% during the 4th quarter. Castle Rock Wealth Management LLC now owns 8,880 shares of the real estate investment trust’s stock worth $1,643,000 after purchasing an additional 223 shares during the last quarter. Finally, Phocas Financial Corp. acquired a new position in Simon Property Group during the 4th quarter worth about $466,000. Institutional investors own 93.01% of the company’s stock.

Simon Property Group Stock Performance

Shares of NYSE:SPG opened at $165.91 on Tuesday. Simon Property Group has a 12-month low of $139.25 and a 12-month high of $190.14. The company’s 50 day moving average price is $175.62 and its two-hundred day moving average price is $174.36. The firm has a market cap of $54.13 billion, a PE ratio of 22.85, a PEG ratio of 10.10 and a beta of 1.78. The company has a quick ratio of 2.00, a current ratio of 1.28 and a debt-to-equity ratio of 7.19.

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

Simon Property Group Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Monday, March 31st. Shareholders of record on Monday, March 10th will be paid a dividend of $2.10 per share. The ex-dividend date of this dividend is Monday, March 10th. This represents a $8.40 dividend on an annualized basis and a dividend yield of 5.06%. Simon Property Group’s payout ratio is presently 115.70%.

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.