Simon Property Group, Inc. (NYSE:SPG) Receives Consensus Rating of “Hold” from Analysts

Simon Property Group, Inc. (NYSE:SPG) has been given an average recommendation of “Hold” by the nine brokerages that are covering the stock, Marketbeat.com reports. Six investment analysts have rated the stock with a hold rating and three have issued a buy rating on the company. The average 12 month price target among brokerages that have issued a report on the stock in the last year is $162.78.

Several equities research analysts have recently commented on SPG shares. Scotiabank increased their price objective on Simon Property Group from $152.00 to $169.00 and gave the company a “sector perform” rating in a report on Monday, August 26th. Evercore ISI raised shares of Simon Property Group from an “in-line” rating to an “outperform” rating and lifted their price objective for the company from $160.00 to $172.00 in a research report on Monday, September 16th. StockNews.com cut shares of Simon Property Group from a “buy” rating to a “hold” rating in a report on Thursday, October 10th. Mizuho lifted their price target on Simon Property Group from $155.00 to $158.00 and gave the stock a “neutral” rating in a report on Monday, August 19th. Finally, Stifel Nicolaus restated a “hold” rating and issued a $159.00 price objective (up previously from $157.50) on shares of Simon Property Group in a research note on Thursday, September 12th.

Insider Transactions at Simon Property Group

In other news, Director Allan B. Hubbard acquired 370 shares of the firm’s stock in a transaction on Monday, September 30th. The shares were purchased at an average cost of $167.30 per share, with a total value of $61,901.00. Following the acquisition, the director now directly owns 34,301 shares in the company, valued at $5,738,557.30. This represents a 1.09 % increase in their position. The purchase was disclosed in a document filed with the SEC, which is accessible through this link. 8.60% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Simon Property Group

Hedge funds and other institutional investors have recently modified their holdings of the company. Orion Portfolio Solutions LLC increased its position in Simon Property Group by 1.3% during the first quarter. Orion Portfolio Solutions LLC now owns 9,338 shares of the real estate investment trust’s stock worth $1,461,000 after acquiring an additional 121 shares during the period. Covestor Ltd boosted its holdings in Simon Property Group by 58.9% in the 1st quarter. Covestor Ltd now owns 259 shares of the real estate investment trust’s stock valued at $40,000 after purchasing an additional 96 shares during the period. InterOcean Capital Group LLC acquired a new position in shares of Simon Property Group during the 1st quarter worth approximately $219,000. Natixis increased its holdings in shares of Simon Property Group by 14.9% during the first quarter. Natixis now owns 33,365 shares of the real estate investment trust’s stock worth $5,221,000 after purchasing an additional 4,319 shares during the period. Finally, Crewe Advisors LLC bought a new position in shares of Simon Property Group during the first quarter worth approximately $41,000. Institutional investors and hedge funds own 93.01% of the company’s stock.

Simon Property Group Stock Up 0.2 %

Shares of SPG stock opened at $181.21 on Wednesday. The firm’s fifty day moving average price is $171.50 and its two-hundred day moving average price is $159.52. The company has a current ratio of 2.00, a quick ratio of 2.00 and a debt-to-equity ratio of 8.20. Simon Property Group has a 1 year low of $119.92 and a 1 year high of $182.84. The firm has a market capitalization of $59.13 billion, a P/E ratio of 24.13, a PEG ratio of 10.52 and a beta of 1.74.

Simon Property Group (NYSE:SPG) last released its earnings results on Friday, November 1st. The real estate investment trust reported $1.46 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $3.00 by ($1.54). Simon Property Group had a net margin of 43.36% and a return on equity of 76.21%. The company had revenue of $1.48 billion during the quarter, compared to analyst estimates of $1.32 billion. During the same period in the prior year, the firm posted $3.20 EPS. Simon Property Group’s revenue was up 4.9% compared to the same quarter last year. On average, equities analysts predict that Simon Property Group will post 12.79 EPS for the current fiscal year.

Simon Property Group Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, December 30th. Stockholders of record on Monday, December 9th will be given a $2.10 dividend. This is an increase from Simon Property Group’s previous quarterly dividend of $2.05. The ex-dividend date of this dividend is Monday, December 9th. This represents a $8.40 annualized dividend and a dividend yield of 4.64%. Simon Property Group’s dividend payout ratio is presently 109.19%.

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.