Simon Property Group, Inc. (NYSE:SPG) Receives Average Rating of “Hold” from Analysts

Simon Property Group, Inc. (NYSE:SPG) has earned an average recommendation of “Hold” from the fourteen brokerages that are covering the firm, Marketbeat Ratings reports. Nine equities research analysts have rated the stock with a hold rating and five have given a buy rating to the company. The average 1 year price target among brokers that have issued a report on the stock in the last year is $188.8462.

Several brokerages have recently commented on SPG. Truist Financial raised their price objective on shares of Simon Property Group from $168.00 to $169.00 and gave the stock a “hold” rating in a research report on Monday, August 25th. Evercore ISI increased their target price on shares of Simon Property Group from $187.00 to $188.00 and gave the stock an “in-line” rating in a research note on Friday, October 17th. Morgan Stanley lifted their price target on shares of Simon Property Group from $170.00 to $180.00 and gave the company an “equal weight” rating in a research note on Thursday, September 11th. LADENBURG THALM/SH SH initiated coverage on shares of Simon Property Group in a research report on Friday, July 18th. They set a “buy” rating and a $225.00 price objective on the stock. Finally, JPMorgan Chase & Co. raised their target price on Simon Property Group from $180.00 to $184.00 and gave the company a “neutral” rating in a research note on Friday, August 22nd.

Insider Activity

In other Simon Property Group news, Director Daniel C. Smith purchased 335 shares of the firm’s stock in a transaction on Tuesday, September 30th. The stock was acquired at an average price of $185.95 per share, for a total transaction of $62,293.25. Following the purchase, the director owned 32,333 shares of the company’s stock, valued at $6,012,321.35. This trade represents a 1.05% increase in their position. The purchase was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, Director Stefan M. Selig acquired 195 shares of the company’s stock in a transaction on Tuesday, September 30th. The stock was acquired at an average cost of $185.95 per share, for a total transaction of $36,260.25. Following the completion of the purchase, the director directly owned 32,076 shares of the company’s stock, valued at approximately $5,964,532.20. This represents a 0.61% increase in their position. The SEC filing for this purchase provides additional information. Over the last 90 days, insiders have purchased 2,163 shares of company stock valued at $401,605. Corporate insiders own 8.66% of the company’s stock.

Institutional Investors Weigh In On Simon Property Group

Hedge funds and other institutional investors have recently made changes to their positions in the business. Colonial Trust Co SC boosted its stake in Simon Property Group by 25.7% during the 3rd quarter. Colonial Trust Co SC now owns 318 shares of the real estate investment trust’s stock valued at $59,000 after purchasing an additional 65 shares during the last quarter. Legacy Wealth Asset Management LLC raised its stake in shares of Simon Property Group by 0.5% in the second quarter. Legacy Wealth Asset Management LLC now owns 13,768 shares of the real estate investment trust’s stock worth $2,213,000 after purchasing an additional 66 shares during the last quarter. Howard Capital Management Inc. lifted its holdings in shares of Simon Property Group by 3.1% in the third quarter. Howard Capital Management Inc. now owns 2,175 shares of the real estate investment trust’s stock valued at $408,000 after purchasing an additional 66 shares in the last quarter. Great Lakes Advisors LLC boosted its position in shares of Simon Property Group by 3.7% during the first quarter. Great Lakes Advisors LLC now owns 1,908 shares of the real estate investment trust’s stock valued at $317,000 after buying an additional 68 shares during the last quarter. Finally, Wedmont Private Capital boosted its position in shares of Simon Property Group by 1.0% during the second quarter. Wedmont Private Capital now owns 7,040 shares of the real estate investment trust’s stock valued at $1,147,000 after buying an additional 68 shares during the last quarter. 93.01% of the stock is owned by institutional investors.

Simon Property Group Stock Performance

Shares of Simon Property Group stock opened at $184.99 on Wednesday. The business has a 50-day moving average price of $180.61 and a two-hundred day moving average price of $170.13. Simon Property Group has a 1-year low of $136.34 and a 1-year high of $190.13. The company has a current ratio of 1.23, a quick ratio of 1.23 and a debt-to-equity ratio of 9.05. The company has a market cap of $60.40 billion, a P/E ratio of 28.59, a PEG ratio of 12.73 and a beta of 1.50.

Simon Property Group (NYSE:SPG) last announced its earnings results on Monday, November 3rd. The real estate investment trust reported $3.22 EPS for the quarter, beating the consensus estimate of $3.09 by $0.13. Simon Property Group had a return on equity of 72.38% and a net margin of 36.78%.The company had revenue of $1.60 billion for the quarter, compared to analyst estimates of $1.41 billion. During the same quarter in the prior year, the company earned $3.05 EPS. The firm’s revenue for the quarter was up 8.2% compared to the same quarter last year. Simon Property Group has set its FY 2025 guidance at 12.600-12.700 EPS. As a group, analysts anticipate that Simon Property Group will post 12.54 EPS for the current year.

Simon Property Group Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, December 31st. Shareholders of record on Wednesday, December 10th will be paid a $2.20 dividend. This represents a $8.80 dividend on an annualized basis and a yield of 4.8%. This is a boost from Simon Property Group’s previous quarterly dividend of $2.15. The ex-dividend date of this dividend is Wednesday, December 10th. Simon Property Group’s payout ratio is 128.09%.

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.