Simon Property Group, Inc. (NYSE:SPG) Given Consensus Recommendation of “Moderate Buy” by Analysts

Shares of Simon Property Group, Inc. (NYSE:SPG) have earned an average recommendation of “Moderate Buy” from the eight analysts that are presently covering the company, Marketbeat.com reports. Four equities research analysts have rated the stock with a hold recommendation and four have given a buy recommendation to the company. The average twelve-month price objective among brokers that have issued ratings on the stock in the last year is $140.22.

Several equities research analysts have issued reports on the company. Truist Financial raised their target price on Simon Property Group from $139.00 to $147.00 and gave the stock a “hold” rating in a research note on Friday, March 22nd. StockNews.com raised shares of Simon Property Group from a “hold” rating to a “buy” rating in a research report on Thursday, April 18th. Morgan Stanley increased their target price on shares of Simon Property Group from $143.00 to $145.00 and gave the stock an “equal weight” rating in a research note on Monday, February 26th. Finally, Evercore ISI boosted their price target on shares of Simon Property Group from $142.00 to $150.00 and gave the company an “in-line” rating in a research note on Wednesday, February 28th.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of SPG. DT Investment Partners LLC raised its position in Simon Property Group by 714.3% in the 3rd quarter. DT Investment Partners LLC now owns 228 shares of the real estate investment trust’s stock valued at $25,000 after purchasing an additional 200 shares in the last quarter. Selway Asset Management purchased a new position in Simon Property Group in the third quarter worth approximately $26,000. Cape Investment Advisory Inc. grew its holdings in Simon Property Group by 3,200.0% during the 4th quarter. Cape Investment Advisory Inc. now owns 198 shares of the real estate investment trust’s stock worth $28,000 after acquiring an additional 192 shares in the last quarter. Annis Gardner Whiting Capital Advisors LLC acquired a new position in Simon Property Group during the 3rd quarter worth approximately $33,000. Finally, BOK Financial Private Wealth Inc. purchased a new stake in shares of Simon Property Group in the 4th quarter valued at approximately $34,000. 93.01% of the stock is currently owned by hedge funds and other institutional investors.

Simon Property Group Stock Up 1.1 %

Shares of SPG opened at $142.93 on Friday. Simon Property Group has a 52-week low of $100.17 and a 52-week high of $157.82. The company has a quick ratio of 1.77, a current ratio of 1.77 and a debt-to-equity ratio of 7.54. The stock has a fifty day simple moving average of $148.36 and a two-hundred day simple moving average of $137.77. The company has a market capitalization of $46.58 billion, a PE ratio of 20.48, a price-to-earnings-growth ratio of 7.36 and a beta of 1.68.

Simon Property Group (NYSE:SPG) last released its quarterly earnings data on Monday, February 5th. The real estate investment trust reported $2.29 earnings per share (EPS) for the quarter, missing the consensus estimate of $3.34 by ($1.05). Simon Property Group had a return on equity of 70.97% and a net margin of 42.30%. The firm had revenue of $1.53 billion for the quarter, compared to analyst estimates of $1.38 billion. During the same quarter in the previous year, the business posted $3.15 earnings per share. Simon Property Group’s revenue for the quarter was up 9.1% on a year-over-year basis. As a group, equities analysts forecast that Simon Property Group will post 12.06 EPS for the current year.

Simon Property Group Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, March 29th. Investors of record on Friday, March 8th were paid a dividend of $1.95 per share. This is an increase from Simon Property Group’s previous quarterly dividend of $1.90. This represents a $7.80 annualized dividend and a yield of 5.46%. The ex-dividend date was Thursday, March 7th. Simon Property Group’s dividend payout ratio is presently 111.75%.

Simon Property Group declared that its Board of Directors has approved a stock buyback plan on Thursday, February 8th that allows the company to repurchase $2.00 billion in shares. This repurchase authorization allows the real estate investment trust to reacquire up to 4.2% of its shares through open market purchases. Shares repurchase plans are generally a sign that the company’s leadership believes its stock is undervalued.

Simon Property Group Company Profile

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.