Simon Property Group (NYSE:SPG) Research Coverage Started at StockNews.com

StockNews.com assumed coverage on shares of Simon Property Group (NYSE:SPG – Get Rating) in a research note published on Thursday. The firm issued a hold rating on the real estate investment trust’s stock.

Several other research analysts have also commented on the company. Mizuho reduced their price target on Simon Property Group from $130.00 to $116.00 in a report on Monday, March 13th. Citigroup lifted their price target on Simon Property Group from $100.00 to $120.00 in a report on Wednesday, December 14th. Truist Financial lifted their price target on Simon Property Group from $125.00 to $130.00 and gave the stock a hold rating in a report on Tuesday, February 21st. Deutsche Bank Aktiengesellschaft lifted their price target on Simon Property Group from $115.00 to $130.00 in a report on Tuesday, January 3rd. Finally, Piper Sandler raised their price objective on Simon Property Group from $130.00 to $145.00 in a research report on Tuesday, January 17th. Seven analysts have rated the stock with a hold rating and five have given a buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has an average rating of Hold and an average price target of $130.58.

Simon Property Group Trading Down 4.5 %

Shares of SPG stock opened at $104.31 on Thursday. The stock’s fifty day moving average is $122.36 and its two-hundred day moving average is $113.25. The company has a debt-to-equity ratio of 6.99, a quick ratio of 0.97 and a current ratio of 0.97. The firm has a market capitalization of $34.10 billion, a P/E ratio of 16.00, a PEG ratio of 2.57 and a beta of 1.52. Simon Property Group has a fifty-two week low of $86.02 and a fifty-two week high of $138.65.

Simon Property Group (NYSE:SPG – Get Rating) last announced its quarterly earnings data on Monday, February 6th. The real estate investment trust reported $2.06 earnings per share for the quarter, missing analysts’ consensus estimates of $3.14 by ($1.08). Simon Property Group had a net margin of 40.43% and a return on equity of 60.33%. The firm had revenue of $1.40 billion during the quarter, compared to analysts’ expectations of $1.29 billion. During the same quarter in the previous year, the business posted $3.09 EPS. The company’s revenue for the quarter was up 5.6% on a year-over-year basis. Research analysts expect that Simon Property Group will post 12.06 earnings per share for the current fiscal year.

Simon Property Group Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, March 31st. Shareholders of record on Friday, March 10th will be given a $1.80 dividend. This represents a $7.20 annualized dividend and a yield of 6.90%. The ex-dividend date of this dividend is Thursday, March 9th. Simon Property Group’s dividend payout ratio is currently 110.43%.

Hedge Funds Weigh In On Simon Property Group

Institutional investors have recently bought and sold shares of the company. New England Capital Financial Advisors LLC acquired a new position in Simon Property Group in the 4th quarter valued at about $25,000. Muzinich & Co. Inc. acquired a new position in Simon Property Group in the 4th quarter valued at about $25,000. Community Bank N.A. acquired a new position in Simon Property Group in the 3rd quarter valued at about $26,000. US Asset Management LLC acquired a new position in Simon Property Group in the 4th quarter valued at about $26,000. Finally, Financial Freedom LLC acquired a new position in Simon Property Group in the 4th quarter valued at about $27,000. 83.89% of the stock is owned by institutional investors and hedge funds.

Simon Property Group Company Profile

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Simon Property Group, Inc is a self-administered and self-managed real estate investment trust, which engages in the ownership, development, and management of shopping, dining, entertainment, and mixed-used destinations, which consist primarily of malls, Premium Outlets, and The Mills. The company was founded by Fred Simon, Herbert Simon and Melvin Simon in 1993 and is headquartered in Indianapolis, IN.