Brokerages Set Simon Property Group, Inc. (NYSE:SPG) PT at $172.10

Shares of Simon Property Group, Inc. (NYSE:SPG) have been assigned a consensus recommendation of “Hold” from the ten research firms that are presently covering the stock, Marketbeat reports. Six investment analysts have rated the stock with a hold recommendation and four have assigned a buy recommendation to the company. The average 12 month price objective among analysts that have updated their coverage on the stock in the last year is $175.10.

A number of analysts have weighed in on SPG shares. Jefferies Financial Group raised Simon Property Group from a “hold” rating to a “buy” rating and boosted their price target for the stock from $179.00 to $198.00 in a research report on Thursday, January 2nd. StockNews.com lowered Simon Property Group from a “buy” rating to a “hold” rating in a report on Thursday, October 10th. Mizuho lifted their price target on shares of Simon Property Group from $158.00 to $182.00 and gave the company a “neutral” rating in a research report on Wednesday, December 4th. Piper Sandler upgraded shares of Simon Property Group from a “neutral” rating to an “overweight” rating and lifted their target price for the stock from $175.00 to $205.00 in a report on Wednesday. Finally, Deutsche Bank Aktiengesellschaft began coverage on shares of Simon Property Group in a report on Tuesday, December 17th. They set a “hold” rating and a $195.00 price target for the company.

Insider Activity at Simon Property Group

In other news, Director Reuben S. Leibowitz acquired 465 shares of the firm’s stock in a transaction on Monday, December 30th. The shares were purchased at an average cost of $168.59 per share, with a total value of $78,394.35. Following the completion of the purchase, the director now owns 55,919 shares of the company’s stock, valued at $9,427,384.21. This represents a 0.84 % increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 8.60% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently modified their holdings of SPG. SRS Capital Advisors Inc. increased its position in Simon Property Group by 236.0% in the 4th quarter. SRS Capital Advisors Inc. now owns 1,196 shares of the real estate investment trust’s stock valued at $206,000 after acquiring an additional 840 shares in the last quarter. Smartleaf Asset Management LLC grew its stake in shares of Simon Property Group by 37.2% during the fourth quarter. Smartleaf Asset Management LLC now owns 2,801 shares of the real estate investment trust’s stock worth $479,000 after purchasing an additional 759 shares during the period. Purkiss Capital Advisors LLC bought a new stake in shares of Simon Property Group in the 4th quarter valued at about $232,000. Spectrum Wealth Counsel LLC boosted its stake in Simon Property Group by 0.6% during the 4th quarter. Spectrum Wealth Counsel LLC now owns 43,301 shares of the real estate investment trust’s stock worth $7,457,000 after acquiring an additional 242 shares during the last quarter. Finally, Metis Global Partners LLC increased its stake in Simon Property Group by 8.7% in the fourth quarter. Metis Global Partners LLC now owns 48,702 shares of the real estate investment trust’s stock valued at $8,387,000 after purchasing an additional 3,886 shares in the last quarter. 93.01% of the stock is owned by institutional investors and hedge funds.

Simon Property Group Trading Up 3.3 %

Shares of NYSE SPG opened at $179.02 on Monday. The business has a 50-day moving average price of $175.74 and a two-hundred day moving average price of $170.06. 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 capitalization of $58.41 billion, a PE ratio of 23.84, a PEG ratio of 9.31 and a beta of 1.74. Simon Property Group has a one year low of $137.25 and a one year high of $186.00.

Simon Property Group (NYSE:SPG) last released its quarterly earnings data on Tuesday, February 4th. The real estate investment trust reported $3.68 EPS for the quarter, topping analysts’ consensus estimates of $1.98 by $1.70. Simon Property Group had a return on equity of 76.21% and a net margin of 43.36%. As a group, analysts predict that Simon Property Group will post 12.72 earnings per share for the current fiscal year.

Simon Property Group Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, March 31st. Stockholders of record on Monday, March 10th will be issued a dividend of $2.10 per share. This represents a $8.40 dividend on an annualized basis and a dividend yield of 4.69%. The ex-dividend date of this dividend is Monday, March 10th. Simon Property Group’s payout ratio is 111.85%.

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.