Simon Property Group, Inc. (SPG) Given Consensus Rating of “Buy” by Brokerages
Simon Property Group, Inc. (NYSE:SPG) has been given an average rating of “Buy” by the twenty analysts that are covering the stock, MarketBeat Ratings reports. One investment analyst has rated the stock with a sell rating, seven have assigned a hold rating and twelve have assigned 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 $192.01.
A number of research firms have issued reports on SPG. Boenning Scattergood set a $240.00 price target on shares of Simon Property Group and gave the stock a “buy” rating in a research report on Wednesday, August 2nd. Argus reduced their price target on shares of Simon Property Group from $210.00 to $200.00 and set a “buy” rating for the company in a research report on Tuesday, August 22nd. Barclays PLC raised their price target on shares of Simon Property Group from $188.00 to $190.00 and gave the stock an “overweight” rating in a research report on Tuesday, August 8th. Stifel Nicolaus reissued a “hold” rating and set a $170.00 price target on shares of Simon Property Group in a research report on Thursday, October 12th. Finally, Zacks Investment Research lowered shares of Simon Property Group from a “buy” rating to a “hold” rating in a research report on Tuesday, October 31st.
Several large investors have recently bought and sold shares of the company. Nelson Van Denburg & Campbell Wealth Management Group LLC grew its stake in Simon Property Group by 0.7% in the 2nd quarter. Nelson Van Denburg & Campbell Wealth Management Group LLC now owns 973 shares of the real estate investment trust’s stock valued at $157,000 after acquiring an additional 7 shares during the period. Whitnell & Co. grew its stake in Simon Property Group by 0.4% in the 2nd quarter. Whitnell & Co. now owns 5,363 shares of the real estate investment trust’s stock valued at $868,000 after acquiring an additional 21 shares during the period. WFG Advisors LP grew its stake in Simon Property Group by 1.3% in the 2nd quarter. WFG Advisors LP now owns 1,841 shares of the real estate investment trust’s stock valued at $298,000 after acquiring an additional 23 shares during the period. Sigma Planning Corp grew its stake in Simon Property Group by 1.1% in the 2nd quarter. Sigma Planning Corp now owns 3,832 shares of the real estate investment trust’s stock valued at $620,000 after acquiring an additional 40 shares during the period. Finally, South Texas Money Management Ltd. grew its stake in Simon Property Group by 1.7% in the 2nd quarter. South Texas Money Management Ltd. now owns 2,760 shares of the real estate investment trust’s stock valued at $446,000 after acquiring an additional 45 shares during the period. 95.24% of the stock is owned by hedge funds and other institutional investors.
Simon Property Group (SPG) traded down $0.33 during mid-day trading on Friday, reaching $158.00. 589,498 shares of the company were exchanged, compared to its average volume of 1,988,446. The firm has a market cap of $101,083.66, a PE ratio of 14.35, a PEG ratio of 2.14 and a beta of 0.60. The company has a quick ratio of 0.93, a current ratio of 0.93 and a debt-to-equity ratio of 5.57. Simon Property Group has a one year low of $150.15 and a one year high of $188.10.
Simon Property Group (NYSE:SPG) last released its earnings results on Friday, October 27th. The real estate investment trust reported $2.89 EPS for the quarter, topping analysts’ consensus estimates of $2.88 by $0.01. Simon Property Group had a net margin of 31.96% and a return on equity of 41.85%. The company had revenue of $1.40 billion during the quarter, compared to analysts’ expectations of $1.39 billion. During the same period last year, the business earned $2.70 EPS. Simon Property Group’s revenue for the quarter was up 3.4% on a year-over-year basis. sell-side analysts anticipate that Simon Property Group will post 11.2 earnings per share for the current year.
The company also recently announced a quarterly dividend, which will be paid on Thursday, November 30th. Stockholders of record on Thursday, November 16th will be issued a dividend of $1.85 per share. This represents a $7.40 annualized dividend and a dividend yield of 4.68%. This is a positive change from Simon Property Group’s previous quarterly dividend of $1.80. The ex-dividend date of this dividend is Wednesday, November 15th. Simon Property Group’s payout ratio is 130.51%.
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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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