Simon Property Group (NYSE:SPG) Sets New 52-Week High – Should You Buy?

Simon Property Group, Inc. (NYSE:SPG)’s share price reached a new 52-week high during mid-day trading on Thursday . The company traded as high as $187.10 and last traded at $186.24, with a volume of 1004082 shares traded. The stock had previously closed at $183.88.

Analyst Ratings Changes

SPG has been the subject of several research analyst reports. Mizuho lifted their price objective 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. Deutsche Bank Aktiengesellschaft assumed coverage on shares of Simon Property Group in a report on Tuesday, December 17th. They set a “hold” rating and a $195.00 price objective on the stock. Jefferies Financial Group upgraded Simon Property Group from a “hold” rating to a “buy” rating and raised their target price for the company from $179.00 to $198.00 in a research note on Thursday, January 2nd. Finally, Piper Sandler raised Simon Property Group from a “neutral” rating to an “overweight” rating and upped their price target for the stock from $175.00 to $205.00 in a research note on Wednesday, February 5th. Seven equities 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, Simon Property Group has an average rating of “Hold” and a consensus target price of $175.10.

Simon Property Group Stock Down 0.6 %

The company has a market cap of $60.40 billion, a P/E ratio of 25.50, a price-to-earnings-growth ratio of 9.58 and a beta of 1.74. The company has a debt-to-equity ratio of 7.19, a current ratio of 1.28 and a quick ratio of 2.00. The stock has a fifty day moving average price of $175.72 and a two-hundred day moving average price of $171.45.

Simon Property Group (NYSE:SPG) last issued its quarterly earnings data on Tuesday, February 4th. The real estate investment trust reported $3.68 earnings per share for the quarter, beating the consensus estimate of $1.98 by $1.70. Simon Property Group had a return on equity of 74.02% and a net margin of 41.49%. On average, research analysts expect that Simon Property Group, Inc. will post 12.54 EPS for the current year.

Simon Property Group Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Monday, March 31st. Shareholders of record on Monday, March 10th will be paid a $2.10 dividend. The ex-dividend date of this dividend is Monday, March 10th. This represents a $8.40 annualized dividend and a yield of 4.54%. Simon Property Group’s dividend payout ratio (DPR) is 115.70%.

Insiders Place Their Bets

In related news, Director Reuben S. Leibowitz purchased 465 shares of the business’s stock in a transaction that occurred on Monday, December 30th. The shares were bought at an average cost of $168.59 per share, with a total value of $78,394.35. Following the acquisition, 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 filing with the SEC, which is accessible through this hyperlink. Insiders own 8.50% of the company’s stock.

Institutional Trading of Simon Property Group

A number of large investors have recently added to or reduced their stakes in the stock. Hopwood Financial Services Inc. bought a new position in shares of Simon Property Group during the 4th quarter worth $28,000. WR Wealth Planners LLC increased its stake in shares of Simon Property Group by 328.2% in the fourth quarter. WR Wealth Planners LLC now owns 167 shares of the real estate investment trust’s stock worth $29,000 after purchasing an additional 128 shares in the last quarter. New England Capital Financial Advisors LLC bought a new stake in shares of Simon Property Group in the fourth quarter valued at approximately $30,000. Capital Performance Advisors LLP bought a new stake in shares of Simon Property Group in the third quarter valued at approximately $30,000. Finally, Caisse Des Depots ET Consignations purchased a new stake in shares of Simon Property Group during the 4th quarter valued at approximately $31,000. Hedge funds and other institutional investors own 93.01% of the company’s stock.

Simon Property Group Company Profile

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.