Goldman Sachs Group Inc lowered shares of Simon Property Group Inc (NYSE:SPG) from a buy rating to a neutral rating in a report released on Friday. The firm currently has $185.00 price objective on the real estate investment trust’s stock, down from their previous price objective of $207.00.

Other equities analysts have also issued reports about the stock. BTIG Research reiterated a buy rating and set a $231.00 target price on shares of Simon Property Group in a report on Wednesday, February 1st. Canaccord Genuity reiterated a buy rating on shares of Simon Property Group in a report on Saturday, January 7th. SunTrust Banks, Inc. lowered shares of Simon Property Group from a buy rating to a hold rating in a report on Thursday, January 19th. They noted that the move was a valuation call. Deutsche Bank AG lowered shares of Simon Property Group from a buy rating to a hold rating and lowered their target price for the company from $231.00 to $188.00 in a report on Monday, January 9th. Finally, Royal Bank of Canada reiterated a hold rating and set a $216.00 target price on shares of Simon Property Group in a report on Tuesday, January 3rd. Seven analysts have rated the stock with a hold rating and nine have given a buy rating to the company’s stock. Simon Property Group has an average rating of Buy and an average target price of $225.13.

Simon Property Group (NYSE:SPG) traded down 0.01% during trading on Friday, reaching $168.00. The company had a trading volume of 577,740 shares. The firm’s 50 day moving average price is $178.93 and its 200 day moving average price is $188.22. Simon Property Group has a 12-month low of $166.65 and a 12-month high of $229.10. The firm has a market capitalization of $52.60 billion, a PE ratio of 28.62 and a beta of 0.60.

Simon Property Group (NYSE:SPG) last released its earnings results on Tuesday, January 31st. The real estate investment trust reported $2.53 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $1.48 by $1.05. Simon Property Group had a net margin of 35.11% and a return on equity of 39.00%. The firm earned $1.43 billion during the quarter, compared to analyst estimates of $1.46 billion. During the same period last year, the business earned $2.40 earnings per share. The business’s revenue was up 3.3% on a year-over-year basis. Equities research analysts forecast that Simon Property Group will post $6.61 EPS for the current year.

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The business also recently announced a quarterly dividend, which was paid on Tuesday, February 28th. Shareholders of record on Tuesday, February 14th were given a $1.75 dividend. This represents a $7.00 dividend on an annualized basis and a yield of 4.17%. The ex-dividend date of this dividend was Friday, February 10th. This is an increase from Simon Property Group’s previous quarterly dividend of $1.65. Simon Property Group’s payout ratio is 119.25%.

A number of large investors have recently bought and sold shares of the company. Zacks Investment Management increased its stake in Simon Property Group by 0.3% in the third quarter. Zacks Investment Management now owns 1,539 shares of the real estate investment trust’s stock worth $319,000 after buying an additional 5 shares during the period. Nelson Van Denburg & Campbell Wealth Management Group LLC increased its stake in Simon Property Group by 0.6% in the third quarter. Nelson Van Denburg & Campbell Wealth Management Group LLC now owns 1,358 shares of the real estate investment trust’s stock worth $281,000 after buying an additional 8 shares during the period. Cetera Advisors LLC increased its stake in Simon Property Group by 0.3% in the third quarter. Cetera Advisors LLC now owns 3,075 shares of the real estate investment trust’s stock worth $633,000 after buying an additional 9 shares during the period. Alpha Windward LLC increased its stake in Simon Property Group by 1.5% in the third quarter. Alpha Windward LLC now owns 804 shares of the real estate investment trust’s stock worth $166,000 after buying an additional 12 shares during the period. Finally, Whitnell & Co. increased its stake in Simon Property Group by 0.3% in the third quarter. Whitnell & Co. now owns 5,004 shares of the real estate investment trust’s stock worth $1,036,000 after buying an additional 14 shares during the period. 97.40% of the stock is owned by institutional investors and hedge funds.

Simon Property Group Company Profile

Simon Property Group, Inc is a self-administered and self-managed real estate investment trust (REIT). The Company owns, develops and manages retail real estate properties, which consist primarily of malls, Premium Outlets and The Mills. Simon Property Group, L.P. (Operating Partnership), is the Company’s partnership subsidiary that owns all of its real estate properties and other assets.

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