Simon Property Group, Inc. (NYSE:SPG – Get Rating) has been given a consensus recommendation of “Moderate Buy” by the fifteen ratings firms that are covering the company, Marketbeat.com reports. Four investment analysts have rated the stock with a hold recommendation and eight have issued a buy recommendation on the company. The average 1-year price objective among brokers that have issued a report on the stock in the last year is $165.00.
A number of analysts recently issued reports on the stock. Wells Fargo & Company decreased their price objective on shares of Simon Property Group from $152.00 to $140.00 and set an “equal weight” rating for the company in a report on Thursday, April 7th. Deutsche Bank Aktiengesellschaft dropped their target price on shares of Simon Property Group from $190.00 to $173.00 and set a “buy” rating for the company in a research report on Thursday, March 31st. Truist Financial dropped their target price on shares of Simon Property Group from $155.00 to $130.00 in a research report on Friday, June 3rd. Morgan Stanley decreased their price target on shares of Simon Property Group from $180.00 to $160.00 and set an “overweight” rating on the stock in a research note on Monday, March 7th. Finally, StockNews.com initiated coverage on shares of Simon Property Group in a research note on Thursday, March 31st. They set a “hold” rating on the stock.
Several hedge funds have recently made changes to their positions in the company. Tobias Financial Advisors Inc. bought a new position in Simon Property Group in the 4th quarter worth about $28,939,000. Vancity Investment Management Ltd raised its position in Simon Property Group by 15.5% in the 4th quarter. Vancity Investment Management Ltd now owns 63,996 shares of the real estate investment trust’s stock worth $10,225,000 after buying an additional 8,568 shares during the last quarter. MML Investors Services LLC raised its position in Simon Property Group by 13.1% in the 4th quarter. MML Investors Services LLC now owns 15,673 shares of the real estate investment trust’s stock worth $2,504,000 after buying an additional 1,812 shares during the last quarter. LPL Financial LLC increased its position in shares of Simon Property Group by 6.9% during the 4th quarter. LPL Financial LLC now owns 214,724 shares of the real estate investment trust’s stock valued at $34,306,000 after purchasing an additional 13,802 shares during the last quarter. Finally, Verdence Capital Advisors LLC increased its position in shares of Simon Property Group by 19.3% during the 4th quarter. Verdence Capital Advisors LLC now owns 6,959 shares of the real estate investment trust’s stock valued at $1,112,000 after purchasing an additional 1,127 shares during the last quarter. Hedge funds and other institutional investors own 91.62% of the company’s stock.
NYSE SPG opened at $99.25 on Wednesday. The firm has a 50-day moving average price of $111.52 and a two-hundred day moving average price of $131.67. The company has a market capitalization of $32.61 billion, a P/E ratio of 14.64, a P/E/G ratio of 2.33 and a beta of 1.46. The company has a quick ratio of 1.10, a current ratio of 1.10 and a debt-to-equity ratio of 6.82. Simon Property Group has a 12-month low of $93.50 and a 12-month high of $171.12.
Simon Property Group (NYSE:SPG – Get Rating) last announced its quarterly earnings results on Monday, May 9th. The real estate investment trust reported $1.30 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.74 by ($1.44). The business had revenue of $1.30 billion during the quarter, compared to analyst estimates of $1.24 billion. Simon Property Group had a net margin of 43.12% and a return on equity of 56.67%. The company’s revenue was up 4.5% compared to the same quarter last year. During the same quarter last year, the company posted $2.48 earnings per share. Equities analysts expect that Simon Property Group will post 11.73 EPS for the current year.
The firm also recently announced a quarterly dividend, which will be paid on Thursday, June 30th. Stockholders of record on Thursday, June 9th will be issued a dividend of $1.70 per share. This represents a $6.80 dividend on an annualized basis and a dividend yield of 6.85%. The ex-dividend date is Wednesday, June 8th. This is a boost from Simon Property Group’s previous quarterly dividend of $1.65. Simon Property Group’s payout ratio is 100.30%.
Simon Property Group Company Profile (Get Rating)
Simon is a real estate investment trust engaged in the ownership of premier shopping, dining, entertainment and mixed-use destinations and an S&P 100 company (Simon Property Group, NYSE: SPG). Our properties across North America, Europe and Asia provide community gathering places for millions of people every day and generate billions in annual sales.
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