Simon Property Group (NYSE:SPG) Upgraded at Piper Sandler

Piper Sandler upgraded shares of Simon Property Group (NYSE:SPG) from a neutral rating to an overweight rating in a report published on Wednesday morning, Marketbeat.com reports. Piper Sandler currently has $205.00 price target on the real estate investment trust’s stock, up from their prior price target of $175.00.

SPG has been the topic of several other reports. Deutsche Bank Aktiengesellschaft initiated coverage on shares of Simon Property Group in a research report on Tuesday, December 17th. They issued a “hold” rating and a $195.00 price objective on the stock. Jefferies Financial Group upgraded shares of Simon Property Group from a “hold” rating to a “buy” rating and lifted their price target for the company from $179.00 to $198.00 in a research note on Thursday, January 2nd. StockNews.com lowered shares of Simon Property Group from a “buy” rating to a “hold” rating in a research note on Thursday, October 10th. Finally, 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 note on Wednesday, December 4th. Seven analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. Based on data from MarketBeat.com, Simon Property Group has an average rating of “Hold” and a consensus target price of $175.10.

Simon Property Group Trading Down 0.1 %

Shares of NYSE SPG opened at $180.01 on Wednesday. The company’s fifty day moving average is $175.57 and its 200-day moving average is $170.19. The stock has a market cap of $58.73 billion, a price-to-earnings ratio of 23.97, a P/E/G ratio of 9.31 and a beta of 1.74. Simon Property Group has a twelve month low of $139.25 and a twelve month high of $186.00. The company has a quick ratio of 2.00, a current ratio of 2.00 and a debt-to-equity ratio of 8.20.

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

Simon Property Group Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Monday, March 31st. Investors of record on Monday, March 10th will be issued a dividend of $2.10 per share. The ex-dividend date is Monday, March 10th. This represents a $8.40 annualized dividend and a yield of 4.67%. Simon Property Group’s payout ratio is currently 111.85%.

Insider Transactions at Simon Property Group

In related news, Director Reuben S. Leibowitz acquired 465 shares of the stock in a transaction on Monday, December 30th. The shares were purchased at an average price of $168.59 per share, for a total transaction of $78,394.35. Following the purchase, the director now directly owns 55,919 shares in the company, valued at approximately $9,427,384.21. The trade was a 0.84 % increase in their ownership of the stock. The purchase was disclosed in a legal filing with the SEC, which is available through this hyperlink. Insiders own 8.60% of the company’s stock.

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of SPG. WR Wealth Planners LLC lifted its stake in shares of Simon Property Group by 328.2% in the 4th quarter. WR Wealth Planners LLC now owns 167 shares of the real estate investment trust’s stock valued at $29,000 after acquiring an additional 128 shares during the last quarter. Capital Performance Advisors LLP bought a new position in Simon Property Group during the 3rd quarter worth $30,000. New England Capital Financial Advisors LLC bought a new position in Simon Property Group during the 4th quarter worth $30,000. Synergy Asset Management LLC bought a new position in Simon Property Group during the 4th quarter worth $41,000. Finally, Wingate Wealth Advisors Inc. bought a new position in Simon Property Group during the 4th quarter worth $41,000. 93.01% of the stock is currently owned by 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.