Simon Property Group (NYSE:SPG) Upgraded at Stifel Nicolaus

Stifel Nicolaus upgraded shares of Simon Property Group (NYSE:SPG) from a hold rating to a buy rating in a research report released on Wednesday, Marketbeat Ratings reports. They currently have $168.50 price objective on the real estate investment trust’s stock.

Several other research analysts also recently commented on SPG. Scotiabank set a $186.00 target price on Simon Property Group in a research note on Friday, February 28th. StockNews.com lowered shares of Simon Property Group from a “buy” rating to a “hold” rating in a report on Saturday, March 29th. Jefferies Financial Group raised shares of Simon Property Group from a “hold” rating to a “buy” rating and raised their price target for the company from $179.00 to $198.00 in a report on Thursday, January 2nd. Piper Sandler upgraded Simon Property Group from a “neutral” rating to an “overweight” rating and increased their price objective for the stock from $175.00 to $205.00 in a research report on Wednesday, February 5th. Finally, Deutsche Bank Aktiengesellschaft started coverage on Simon Property Group in a research report on Tuesday, December 17th. They set a “hold” rating and a $195.00 target price for the company. Five equities research analysts have rated the stock with a hold rating and five have issued a buy rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $181.39.

Simon Property Group Stock Performance

NYSE:SPG traded down $4.06 on Wednesday, reaching $149.12. 1,045,043 shares of the company’s stock were exchanged, compared to its average volume of 1,493,087. The firm has a market cap of $48.65 billion, a price-to-earnings ratio of 20.53, a P/E/G ratio of 10.10 and a beta of 1.45. The company has a debt-to-equity ratio of 7.19, a current ratio of 1.28 and a quick ratio of 2.00. The stock has a fifty day simple moving average of $171.10 and a 200-day simple moving average of $173.55. Simon Property Group has a 52 week low of $136.34 and a 52 week high of $190.14.

Simon Property Group (NYSE:SPG) last released its quarterly earnings data on Tuesday, February 4th. The real estate investment trust reported $3.68 EPS for the quarter, topping the consensus estimate of $1.98 by $1.70. Simon Property Group had a net margin of 41.49% and a return on equity of 74.02%. As a group, sell-side analysts predict that Simon Property Group will post 12.54 earnings per share for the current year.

Simon Property Group Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Monday, March 31st. Investors of record on Monday, March 10th were given a $2.10 dividend. The ex-dividend date of this dividend was Monday, March 10th. This represents a $8.40 dividend on an annualized basis and a yield of 5.63%. Simon Property Group’s payout ratio is 115.70%.

Hedge Funds Weigh In On Simon Property Group

Institutional investors and hedge funds have recently made changes to their positions in the business. Norges Bank purchased a new stake in Simon Property Group during the fourth quarter valued at about $2,059,505,000. Geode Capital Management LLC boosted its stake in shares of Simon Property Group by 2.6% during the fourth quarter. Geode Capital Management LLC now owns 9,160,242 shares of the real estate investment trust’s stock valued at $1,577,600,000 after purchasing an additional 230,982 shares during the period. Northern Trust Corp increased its stake in shares of Simon Property Group by 45.9% in the fourth quarter. Northern Trust Corp now owns 5,462,856 shares of the real estate investment trust’s stock worth $940,758,000 after buying an additional 1,718,398 shares during the period. JPMorgan Chase & Co. grew its holdings in Simon Property Group by 5.5% in the 4th quarter. JPMorgan Chase & Co. now owns 4,710,538 shares of the real estate investment trust’s stock worth $811,202,000 after acquiring an additional 246,630 shares during the last quarter. Finally, Invesco Ltd. increased its position in shares of Simon Property Group by 14.8% in the fourth quarter. Invesco Ltd. now owns 4,216,575 shares of the real estate investment trust’s stock valued at $726,136,000 after acquiring an additional 542,511 shares during the period. Institutional investors own 93.01% of the company’s stock.

Simon Property Group Company Profile

Simon Property Group, Inc (NYSE:SPG) is a self-administered and self-managed real estate investment trust (REIT). Simon Property Group, L.P., or the Operating Partnership, is our majority-owned partnership subsidiary that owns all of our real estate properties and other assets. In this package, the terms Simon, we, our, or the Company refer to Simon Property Group, Inc, the Operating Partnership, and its subsidiaries.