Shares of Simon Property Group Inc (NYSE:SPG) have been assigned a consensus recommendation of “Hold” from the sixteen research firms that are covering the firm, Marketbeat Ratings reports. Eight research analysts have rated the stock with a hold recommendation and seven have given a buy recommendation to the company. The average 1 year target price among analysts that have updated their coverage on the stock in the last year is $192.54.

A number of equities research analysts have recently issued reports on SPG shares. Mizuho downgraded shares of Simon Property Group to a “hold” rating and set a $193.00 price target on the stock. in a report on Tuesday, February 26th. Wells Fargo & Co downgraded shares of Simon Property Group from an “overweight” rating to a “market weight” rating in a report on Friday, February 8th. Barclays reissued a “buy” rating and issued a $202.00 price target on shares of Simon Property Group in a report on Tuesday, April 16th. Finally, JPMorgan Chase & Co. lowered their price target on shares of Simon Property Group from $198.00 to $193.00 and set an “overweight” rating on the stock in a report on Monday.

NYSE:SPG traded down $0.65 on Thursday, reaching $161.02. 23,776 shares of the company’s stock were exchanged, compared to its average volume of 1,434,546. The company has a quick ratio of 1.01, a current ratio of 1.01 and a debt-to-equity ratio of 6.34. The firm has a market capitalization of $50.14 billion, a PE ratio of 13.25, a P/E/G ratio of 2.95 and a beta of 0.56. Simon Property Group has a 52 week low of $159.69 and a 52 week high of $191.49.

Simon Property Group (NYSE:SPG) last issued its earnings results on Tuesday, April 30th. The real estate investment trust reported $3.04 earnings per share for the quarter, topping analysts’ consensus estimates of $3.02 by $0.02. The firm had revenue of $1.45 billion during the quarter, compared to analyst estimates of $1.43 billion. Simon Property Group had a net margin of 41.45% and a return on equity of 62.69%. The company’s quarterly revenue was up 4.2% on a year-over-year basis. During the same quarter last year, the business earned $2.00 earnings per share. Analysts anticipate that Simon Property Group will post 12.38 earnings per share for the current fiscal year.

Simon Property Group announced that its Board of Directors has initiated a share repurchase program on Tuesday, February 12th that permits the company to repurchase $2.00 billion in outstanding shares. This repurchase authorization permits the real estate investment trust to purchase up to 3.4% of its shares through open market purchases. Shares repurchase programs are usually an indication that the company’s management believes its stock is undervalued.

The company also recently declared a quarterly dividend, which was paid on Friday, May 31st. Stockholders of record on Friday, May 17th were issued a $2.05 dividend. This represents a $8.20 dividend on an annualized basis and a dividend yield of 5.09%. The ex-dividend date was Thursday, May 16th. Simon Property Group’s payout ratio is 67.60%.

In related news, insider John Rulli sold 9,160 shares of the firm’s stock in a transaction that occurred on Thursday, May 16th. The shares were sold at an average price of $176.17, for a total value of $1,613,717.20. Following the sale, the insider now directly owns 29,646 shares of the company’s stock, valued at $5,222,735.82. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Corporate insiders own 8.75% of the company’s stock.

A number of institutional investors and hedge funds have recently made changes to their positions in the stock. Private Trust Co. NA raised its stake in Simon Property Group by 4.7% in the first quarter. Private Trust Co. NA now owns 1,310 shares of the real estate investment trust’s stock valued at $238,000 after purchasing an additional 59 shares in the last quarter. Berman Capital Advisors LLC raised its stake in shares of Simon Property Group by 12.7% during the first quarter. Berman Capital Advisors LLC now owns 523 shares of the real estate investment trust’s stock worth $95,000 after acquiring an additional 59 shares in the last quarter. San Francisco Sentry Investment Group CA raised its stake in shares of Simon Property Group by 6.9% during the fourth quarter. San Francisco Sentry Investment Group CA now owns 933 shares of the real estate investment trust’s stock worth $157,000 after acquiring an additional 60 shares in the last quarter. First Personal Financial Services raised its stake in shares of Simon Property Group by 37.4% during the fourth quarter. First Personal Financial Services now owns 224 shares of the real estate investment trust’s stock worth $38,000 after acquiring an additional 61 shares in the last quarter. Finally, Flagship Harbor Advisors LLC raised its stake in shares of Simon Property Group by 13.3% during the first quarter. Flagship Harbor Advisors LLC now owns 527 shares of the real estate investment trust’s stock worth $96,000 after acquiring an additional 62 shares in the last quarter. 95.61% of the stock is currently owned by institutional investors and hedge funds.

Simon Property Group Company Profile

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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