Simon Property Group (NYSE:SPG) Rating Lowered to “Hold” at StockNews.com

StockNews.com downgraded shares of Simon Property Group (NYSE:SPG) from a buy rating to a hold rating in a report published on Saturday.

Several other equities research analysts have also recently weighed in on the stock. Mizuho upped their price objective on shares of Simon Property Group from $158.00 to $182.00 and gave the stock a “neutral” rating in a research report on Wednesday, December 4th. Piper Sandler raised shares of Simon Property Group from a “neutral” rating to an “overweight” rating and upped their price objective for the stock from $175.00 to $205.00 in a research report on Wednesday, February 5th. Deutsche Bank Aktiengesellschaft began coverage on shares of Simon Property Group in a research report on Tuesday, December 17th. They set a “hold” rating and a $195.00 price objective for the company. Finally, Jefferies Financial Group raised shares of Simon Property Group from a “hold” rating to a “buy” rating and upped their price objective for the stock from $179.00 to $198.00 in a research report on Thursday, January 2nd. Six research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus price target of $178.44.

Simon Property Group Trading Down 2.0 %

SPG stock opened at $170.97 on Friday. The company has a debt-to-equity ratio of 7.19, a quick ratio of 2.00 and a current ratio of 1.28. The company’s 50-day simple moving average is $178.03 and its 200 day simple moving average is $174.50. Simon Property Group has a 52 week low of $139.25 and a 52 week high of $190.14. The company has a market capitalization of $55.78 billion, a PE ratio of 23.55, a price-to-earnings-growth ratio of 10.10 and a beta of 1.78.

Simon Property Group (NYSE:SPG) last posted its quarterly earnings data on Tuesday, February 4th. The real estate investment trust reported $3.68 earnings per share for the quarter, topping the consensus estimate of $1.98 by $1.70. Simon Property Group had a net margin of 41.49% and a return on equity of 74.02%. As a group, sell-side analysts anticipate 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. Stockholders of record on Monday, March 10th will be issued a $2.10 dividend. The ex-dividend date is Monday, March 10th. This represents a $8.40 dividend on an annualized basis and a dividend yield of 4.91%. Simon Property Group’s dividend payout ratio (DPR) is currently 115.70%.

Insider Transactions at Simon Property Group

In other news, Director Reuben S. Leibowitz acquired 465 shares of the stock in a transaction dated Monday, December 30th. The stock was bought at an average price of $168.59 per share, with a total value of $78,394.35. Following the completion of the purchase, the director now directly owns 55,919 shares of the company’s stock, valued at $9,427,384.21. This represents a 0.84 % increase in their position. The transaction was disclosed in a filing 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

Several institutional investors and hedge funds have recently made changes to their positions in SPG. Graypoint LLC increased its stake in shares of Simon Property Group by 9.6% in the third quarter. Graypoint LLC now owns 3,303 shares of the real estate investment trust’s stock valued at $558,000 after buying an additional 289 shares during the period. Portside Wealth Group LLC increased its position in Simon Property Group by 19.3% during the 3rd quarter. Portside Wealth Group LLC now owns 4,153 shares of the real estate investment trust’s stock valued at $702,000 after purchasing an additional 673 shares during the period. Capital Performance Advisors LLP acquired a new stake in Simon Property Group during the 3rd quarter valued at approximately $30,000. CWA Asset Management Group LLC acquired a new stake in Simon Property Group during the 3rd quarter valued at approximately $1,503,000. Finally, Applied Finance Capital Management LLC increased its position in Simon Property Group by 9.9% during the 3rd quarter. Applied Finance Capital Management LLC now owns 5,684 shares of the real estate investment trust’s stock valued at $961,000 after purchasing an additional 512 shares during the period. Institutional investors and hedge funds own 93.01% of the company’s stock.

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.