Shares of Simon Property Group Inc (NYSE:SPG) have been given an average recommendation of “Buy” by the sixteen research firms that are covering the firm, Marketbeat.com reports. Six investment analysts have rated the stock with a hold recommendation and nine have issued a buy recommendation on the company. The average twelve-month price objective among brokerages that have issued a report on the stock in the last year is $189.85.

Several equities analysts have commented on SPG shares. Bank of America raised their price objective on Simon Property Group from $193.00 to $203.00 and gave the company a “buy” rating in a research report on Monday, September 10th. Jefferies Financial Group reaffirmed a “$170.72” rating and issued a $194.00 price target on shares of Simon Property Group in a research report on Wednesday, July 18th. Barclays lifted their price target on Simon Property Group from $184.00 to $192.00 and gave the stock an “overweight” rating in a research report on Tuesday, July 17th. Wells Fargo & Co lifted their price target on Simon Property Group from $175.00 to $183.00 and gave the stock an “outperform” rating in a research report on Tuesday, July 31st. Finally, Royal Bank of Canada lifted their price target on Simon Property Group to $183.00 and gave the stock a “sector perform” rating in a research report on Tuesday, August 21st.

Simon Property Group stock traded up $0.54 on Friday, hitting $175.85. 24,838 shares of the stock traded hands, compared to its average volume of 1,364,059. The company has a current ratio of 1.13, a quick ratio of 1.13 and a debt-to-equity ratio of 6.13. The firm has a market capitalization of $56.70 billion, a P/E ratio of 15.67, a P/E/G ratio of 2.43 and a beta of 0.52. Simon Property Group has a 1 year low of $145.78 and a 1 year high of $186.03.

Simon Property Group (NYSE:SPG) last announced its quarterly earnings data on Monday, July 30th. The real estate investment trust reported $1.77 EPS for the quarter, beating the consensus estimate of $1.64 by $0.13. The business had revenue of $1.39 billion during the quarter, compared to analyst estimates of $1.38 billion. Simon Property Group had a return on equity of 55.59% and a net margin of 40.11%. The company’s revenue for the quarter was up 2.0% on a year-over-year basis. During the same quarter last year, the firm posted $1.23 earnings per share. analysts predict that Simon Property Group will post 12.12 earnings per share for the current year.

The business also recently declared a quarterly dividend, which was paid on Friday, August 31st. Stockholders of record on Friday, August 17th were given a $2.00 dividend. This represents a $8.00 annualized dividend and a dividend yield of 4.55%. The ex-dividend date was Thursday, August 16th. This is a positive change from Simon Property Group’s previous quarterly dividend of $1.94. Simon Property Group’s payout ratio is currently 71.36%.

In related news, insider John Rulli sold 1,330 shares of Simon Property Group stock in a transaction dated Monday, August 6th. The stock was sold at an average price of $177.05, for a total value of $235,476.50. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CAO Steven K. Broadwater sold 859 shares of Simon Property Group stock in a transaction dated Friday, June 29th. The stock was sold at an average price of $170.28, for a total value of $146,270.52. Following the completion of the sale, the chief accounting officer now owns 1,734 shares of the company’s stock, valued at $295,265.52. The disclosure for this sale can be found here. 8.64% of the stock is owned by insiders.

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Private Advisor Group LLC bought a new stake in Simon Property Group in the 2nd quarter worth about $668,000. Peapack Gladstone Financial Corp bought a new stake in Simon Property Group in the 2nd quarter worth about $203,000. Centersquare Investment Management LLC increased its holdings in Simon Property Group by 7.3% in the 2nd quarter. Centersquare Investment Management LLC now owns 3,070,931 shares of the real estate investment trust’s stock worth $522,642,000 after buying an additional 208,486 shares in the last quarter. Swiss National Bank increased its holdings in Simon Property Group by 8.9% in the 2nd quarter. Swiss National Bank now owns 1,085,698 shares of the real estate investment trust’s stock worth $184,775,000 after buying an additional 88,400 shares in the last quarter. Finally, Artisan Partners Limited Partnership grew its stake in shares of Simon Property Group by 6.0% during the 2nd quarter. Artisan Partners Limited Partnership now owns 280,460 shares of the real estate investment trust’s stock valued at $47,731,000 after purchasing an additional 15,964 shares during the period. Institutional investors own 93.84% of the company’s stock.

About Simon Property Group

Simon is a global leader 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.

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Analyst Recommendations for Simon Property Group (NYSE:SPG)

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