Brokerages Set Simon Property Group, Inc. (NYSE:SPG) PT at $140.22

Simon Property Group, Inc. (NYSE:SPG) has been given an average recommendation of “Moderate Buy” by the eight research firms that are covering the stock, Marketbeat reports. Four investment analysts have rated the stock with a hold rating and four have given a buy rating to the company. The average twelve-month price objective among brokerages that have issued ratings on the stock in the last year is $140.22.

Several equities analysts recently weighed in on the stock. Evercore ISI raised their target price on shares of Simon Property Group from $142.00 to $150.00 and gave the company an “in-line” rating in a research note on Wednesday, February 28th. StockNews.com raised Simon Property Group from a “hold” rating to a “buy” rating in a report on Thursday, April 18th. Truist Financial increased their price target on Simon Property Group from $139.00 to $147.00 and gave the company a “hold” rating in a research note on Friday, March 22nd. Finally, Morgan Stanley lifted their price objective on Simon Property Group from $143.00 to $145.00 and gave the stock an “equal weight” rating in a research note on Monday, February 26th.

Institutional Trading of Simon Property Group

Institutional investors have recently bought and sold shares of the stock. Cape Investment Advisory Inc. grew its holdings in Simon Property Group by 3,200.0% during the 4th quarter. Cape Investment Advisory Inc. now owns 198 shares of the real estate investment trust’s stock valued at $28,000 after purchasing an additional 192 shares during the last quarter. DT Investment Partners LLC raised its holdings in shares of Simon Property Group by 714.3% in the third quarter. DT Investment Partners LLC now owns 228 shares of the real estate investment trust’s stock worth $25,000 after buying an additional 200 shares during the period. BOK Financial Private Wealth Inc. bought a new stake in shares of Simon Property Group during the 4th quarter worth approximately $34,000. Selway Asset Management purchased a new position in Simon Property Group during the 3rd quarter valued at $26,000. Finally, Indiana Trust & Investment Management CO bought a new position in Simon Property Group in the 1st quarter valued at $41,000. 93.01% of the stock is currently owned by institutional investors.

Simon Property Group Stock Performance

NYSE:SPG opened at $144.49 on Friday. The stock has a 50-day moving average price of $148.11 and a 200 day moving average price of $138.68. The stock has a market capitalization of $47.09 billion, a P/E ratio of 20.70, a P/E/G ratio of 7.50 and a beta of 1.68. Simon Property Group has a 12-month low of $100.17 and a 12-month high of $157.82. The company has a current ratio of 1.77, a quick ratio of 1.77 and a debt-to-equity ratio of 7.54.

Simon Property Group (NYSE:SPG) last announced its quarterly earnings data on Monday, February 5th. The real estate investment trust reported $2.29 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $3.34 by ($1.05). Simon Property Group had a net margin of 42.30% and a return on equity of 70.97%. The company had revenue of $1.53 billion for the quarter, compared to analysts’ expectations of $1.38 billion. During the same period last year, the business earned $3.15 earnings per share. The company’s quarterly revenue was up 9.1% compared to the same quarter last year. Equities research analysts forecast that Simon Property Group will post 12.06 EPS for the current fiscal year.

Simon Property Group declared that its board has authorized a stock buyback plan on Thursday, February 8th that authorizes the company to buyback $2.00 billion in outstanding shares. This buyback authorization authorizes the real estate investment trust to reacquire up to 4.2% of its shares through open market purchases. Shares buyback plans are often an indication that the company’s board believes its stock is undervalued.

Simon Property Group Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, June 28th. Stockholders of record on Friday, June 7th will be paid a $2.00 dividend. This represents a $8.00 annualized dividend and a dividend yield of 5.54%. This is a positive change from Simon Property Group’s previous quarterly dividend of $1.95. Simon Property Group’s dividend payout ratio (DPR) is presently 111.75%.

Simon Property Group Company Profile

Simon is a real estate investment trust engaged in the ownership of premier shopping, dining, entertainment and mixed-use destinations and an S&P 100 company (Simon Property Group, NYSE: SPG). Our properties across North America, Europe and Asia provide community gathering places for millions of people every day and generate billions in annual sales.