Simon Property Group (NYSE:SPG) Reaches New 52-Week Low – Should You Sell?

Simon Property Group, Inc. (NYSE:SPG)’s stock price reached a new 52-week low during mid-day trading on Monday . The company traded as low as $138.11 and last traded at $141.69, with a volume of 1084219 shares traded. The stock had previously closed at $146.05.

Wall Street Analysts Forecast Growth

SPG has been the topic of a number of recent research reports. Deutsche Bank Aktiengesellschaft initiated coverage on Simon Property Group in a research report on Tuesday, December 17th. They set a “hold” rating and a $195.00 price target on the stock. Stifel Nicolaus raised shares of Simon Property Group from a “hold” rating to a “buy” rating and set a $168.50 price objective on the stock in a report on Wednesday. Scotiabank set a $186.00 target price on shares of Simon Property Group in a research note on Friday, February 28th. Piper Sandler upgraded shares of Simon Property Group from a “neutral” rating to an “overweight” rating and upped their price target for the company from $175.00 to $205.00 in a research note on Wednesday, February 5th. Finally, Jefferies Financial Group raised shares of Simon Property Group from a “hold” rating to a “buy” rating and raised their price objective for the stock from $179.00 to $198.00 in a report on Thursday, January 2nd. Five investment analysts have rated the stock with a hold rating and five have issued a buy rating to the company. According to data from MarketBeat, Simon Property Group presently has a consensus rating of “Moderate Buy” and a consensus price target of $181.39.

Simon Property Group Stock Up 9.3 %

The company’s 50 day simple moving average is $171.10 and its 200-day simple moving average is $173.55. The firm has a market capitalization of $50.04 billion, a PE ratio of 21.12, a PEG ratio of 10.10 and a beta of 1.45. The company has a debt-to-equity ratio of 7.19, a quick ratio of 2.00 and a current ratio of 1.28.

Simon Property Group (NYSE:SPG) last posted its quarterly earnings data on Tuesday, February 4th. The real estate investment trust reported $3.68 earnings per share (EPS) 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, analysts forecast that Simon Property Group, Inc. will post 12.54 EPS for the current fiscal year.

Simon Property Group Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Monday, March 31st. Investors of record on Monday, March 10th were paid a $2.10 dividend. This represents a $8.40 dividend on an annualized basis and a yield of 5.48%. The ex-dividend date of this dividend was Monday, March 10th. Simon Property Group’s dividend payout ratio is currently 115.70%.

Hedge Funds Weigh In On Simon Property Group

A number of hedge funds and other institutional investors have recently bought and sold shares of SPG. Pitcairn Co. grew its position in Simon Property Group by 0.6% in the fourth quarter. Pitcairn Co. now owns 9,895 shares of the real estate investment trust’s stock worth $1,704,000 after acquiring an additional 55 shares in the last quarter. Colonial Trust Co SC raised its holdings in shares of Simon Property Group by 37.5% during the 4th quarter. Colonial Trust Co SC now owns 209 shares of the real estate investment trust’s stock valued at $36,000 after buying an additional 57 shares in the last quarter. Childress Capital Advisors LLC boosted its stake in Simon Property Group by 3.6% in the fourth quarter. Childress Capital Advisors LLC now owns 1,689 shares of the real estate investment trust’s stock worth $291,000 after buying an additional 58 shares in the last quarter. Global X Japan Co. Ltd. grew its position in Simon Property Group by 9.9% during the fourth quarter. Global X Japan Co. Ltd. now owns 655 shares of the real estate investment trust’s stock valued at $113,000 after acquiring an additional 59 shares during the last quarter. Finally, HighPoint Advisor Group LLC grew its position in Simon Property Group by 1.8% during the fourth quarter. HighPoint Advisor Group LLC now owns 3,396 shares of the real estate investment trust’s stock valued at $626,000 after acquiring an additional 60 shares during the last quarter. Hedge funds and other institutional investors own 93.01% of the company’s stock.

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.