Analysts Set Simon Property Group, Inc. (NYSE:SPG) Price Target at $172.10

Simon Property Group, Inc. (NYSE:SPG) has been assigned a consensus rating of “Hold” from the ten analysts that are covering the stock, Marketbeat.com reports. Six analysts have rated the stock with a hold rating and four have issued a buy rating on the company. The average 12 month target price among brokers that have covered the stock in the last year is $175.10.

Several equities analysts recently weighed in on SPG shares. Piper Sandler raised shares of Simon Property Group from a “neutral” rating to an “overweight” rating and raised their price target for the company from $175.00 to $205.00 in a research report on Wednesday. Deutsche Bank Aktiengesellschaft assumed coverage on Simon Property Group in a report on Tuesday, December 17th. They issued a “hold” rating and a $195.00 target price on the stock. Mizuho upped their price target on Simon Property Group from $158.00 to $182.00 and gave the stock a “neutral” rating in a report on Wednesday, December 4th. Finally, Jefferies Financial Group upgraded Simon Property Group from a “hold” rating to a “buy” rating and raised their price objective for the company from $179.00 to $198.00 in a research note on Thursday, January 2nd.

Insider Buying and Selling

In other news, Director Reuben S. Leibowitz acquired 465 shares of Simon Property Group stock in a transaction on Monday, December 30th. The stock was acquired at an average cost of $168.59 per share, with a total value 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 ownership of the stock. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 8.60% of the stock is currently owned by corporate insiders.

Institutional Trading of Simon Property Group

Several hedge funds have recently made changes to their positions in the company. WR Wealth Planners LLC raised its stake in Simon Property Group by 328.2% in the 4th quarter. WR Wealth Planners LLC now owns 167 shares of the real estate investment trust’s stock valued at $29,000 after acquiring an additional 128 shares during the period. Capital Performance Advisors LLP purchased a new position in shares of Simon Property Group in the third quarter worth about $30,000. New England Capital Financial Advisors LLC bought a new stake in shares of Simon Property Group in the fourth quarter valued at approximately $30,000. Synergy Asset Management LLC purchased a new stake in shares of Simon Property Group during the 4th quarter valued at approximately $41,000. Finally, Wingate Wealth Advisors Inc. bought a new position in Simon Property Group in the 4th quarter worth approximately $41,000. 93.01% of the stock is currently owned by institutional investors.

Simon Property Group Trading Down 0.1 %

NYSE SPG opened at $180.01 on Monday. Simon Property Group has a 52 week low of $139.25 and a 52 week high of $186.00. The business has a 50 day moving average price of $175.57 and a 200-day moving average price of $170.19. The company has a quick ratio of 2.00, a current ratio of 2.00 and a debt-to-equity ratio of 8.20. The company has a market cap of $58.73 billion, a price-to-earnings ratio of 23.97, a P/E/G ratio of 9.31 and a beta of 1.74.

Simon Property Group (NYSE:SPG) last announced its quarterly earnings results on Tuesday, February 4th. The real estate investment trust reported $3.68 EPS for the quarter, beating analysts’ consensus estimates of $1.98 by $1.70. Simon Property Group had a net margin of 43.36% and a return on equity of 76.21%. As a group, equities analysts expect that Simon Property Group will post 12.72 earnings per share for the current fiscal year.

Simon Property Group Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Monday, March 31st. Investors of record on Monday, March 10th will be issued a $2.10 dividend. This represents a $8.40 dividend on an annualized basis and a dividend yield of 4.67%. The ex-dividend date of this dividend is Monday, March 10th. Simon Property Group’s dividend payout ratio (DPR) is currently 111.85%.

About Simon Property Group

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.