Simon Property Group (NYSE:SPG) Stock Crosses Above Two Hundred Day Moving Average – Here’s Why

Simon Property Group, Inc. (NYSE:SPG) shares crossed above its 200-day moving average during trading on Monday . The stock has a 200-day moving average of $165.47 and traded as high as $171.52. Simon Property Group shares last traded at $170.87, with a volume of 852,014 shares changing hands.

Analyst Ratings Changes

Several research analysts have recently weighed in on the company. Mizuho lifted their price objective on Simon Property Group from $158.00 to $182.00 and gave the stock a “neutral” rating in a research report on Wednesday, December 4th. StockNews.com lowered Simon Property Group from a “buy” rating to a “hold” rating in a research note on Thursday, October 10th. Stifel Nicolaus reaffirmed a “hold” rating and set a $159.00 price objective (up previously from $157.50) on shares of Simon Property Group in a research report on Thursday, September 12th. Piper Sandler reaffirmed a “neutral” rating and set a $175.00 price objective (down previously from $190.00) on shares of Simon Property Group in a research report on Tuesday, September 3rd. Finally, Evercore ISI raised shares of Simon Property Group from an “in-line” rating to an “outperform” rating and raised their price objective for the stock from $160.00 to $172.00 in a research report on Monday, September 16th. Eight analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus target price of $169.22.

Simon Property Group Trading Down 0.7 %

The firm’s 50-day moving average is $177.04 and its 200-day moving average is $165.47. The company has a current ratio of 2.00, a quick ratio of 2.00 and a debt-to-equity ratio of 8.20. The firm has a market cap of $55.75 billion, a price-to-earnings ratio of 22.75, a P/E/G ratio of 10.50 and a beta of 1.75.

Simon Property Group (NYSE:SPG) last posted its quarterly earnings results on Friday, November 1st. The real estate investment trust reported $1.46 earnings per share (EPS) for the quarter, missing the consensus estimate 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 business had revenue of $1.48 billion during the quarter, compared to analyst estimates of $1.32 billion. During the same period in the previous year, the business posted $3.20 EPS. The business’s revenue for the quarter was up 4.9% compared to the same quarter last year. As a group, sell-side analysts anticipate that Simon Property Group, Inc. will post 12.76 EPS for the current fiscal year.

Simon Property Group Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, December 30th. Shareholders of record on Monday, December 9th were issued a dividend of $2.10 per share. This represents a $8.40 dividend on an annualized basis and a yield of 4.92%. This is an increase from Simon Property Group’s previous quarterly dividend of $2.05. The ex-dividend date was Monday, December 9th. Simon Property Group’s payout ratio is currently 111.85%.

Hedge Funds Weigh In On Simon Property Group

A number of hedge funds have recently bought and sold shares of SPG. IFG Advisory LLC purchased a new position in Simon Property Group during the 2nd quarter worth $285,000. Banque Cantonale Vaudoise bought a new stake in shares of Simon Property Group during the 2nd quarter worth $977,000. Graypoint LLC raised its stake in shares of Simon Property Group by 7.2% during the 2nd quarter. Graypoint LLC now owns 3,014 shares of the real estate investment trust’s stock worth $458,000 after purchasing an additional 202 shares during the period. Farther Finance Advisors LLC raised its stake in shares of Simon Property Group by 14.1% during the 2nd quarter. Farther Finance Advisors LLC now owns 1,898 shares of the real estate investment trust’s stock worth $278,000 after purchasing an additional 234 shares during the period. Finally, Aptus Capital Advisors LLC raised its stake in shares of Simon Property Group by 5.1% during the 2nd quarter. Aptus Capital Advisors LLC now owns 1,554 shares of the real estate investment trust’s stock worth $236,000 after purchasing an additional 76 shares during the period. 93.01% of the stock is owned by hedge funds and other institutional investors.

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.