Simon Property Group (NYSE:SPG) Price Target Lowered to $200.00 at Piper Sandler

Simon Property Group (NYSE:SPG) had its price target decreased by Piper Sandler from $205.00 to $200.00 in a research report sent to investors on Friday morning,Benzinga reports. Piper Sandler currently has an overweight rating on the real estate investment trust’s stock.

Other analysts have also issued research reports about the stock. Stifel Nicolaus increased their price target on shares of Simon Property Group from $168.50 to $180.00 and gave the stock a “buy” rating in a research report on Tuesday, May 13th. Scotiabank reduced their price target on shares of Simon Property Group from $186.00 to $159.00 and set a “sector perform” rating on the stock in a research report on Wednesday, April 23rd. Wall Street Zen lowered shares of Simon Property Group from a “buy” rating to a “hold” rating in a research report on Saturday, March 29th. Finally, JPMorgan Chase & Co. cut their target price on shares of Simon Property Group from $192.00 to $180.00 and set a “neutral” rating on the stock in a research report on Thursday. Six research analysts have rated the stock with a hold rating and five have issued a buy rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of “Hold” and a consensus price target of $179.20.

Simon Property Group Stock Down 0.7%

Shares of SPG opened at $156.85 on Friday. Simon Property Group has a 12 month low of $136.34 and a 12 month high of $190.14. The firm’s 50 day moving average is $157.74 and its 200-day moving average is $170.51. The stock has a market capitalization of $51.20 billion, a PE ratio of 21.60, a P/E/G ratio of 10.10 and a beta of 1.43. The company has a current ratio of 1.28, a quick ratio of 2.00 and a debt-to-equity ratio of 7.19.

Simon Property Group (NYSE:SPG) last announced its earnings results on Monday, May 12th. The real estate investment trust reported $2.95 EPS for the quarter, topping the consensus estimate of $2.91 by $0.04. Simon Property Group had a net margin of 41.49% and a return on equity of 74.02%. The company had revenue of $1.47 billion for the quarter, compared to analysts’ expectations of $1.34 billion. During the same period last year, the firm earned $3.56 earnings per share. The business’s revenue for the quarter was up 2.1% on a year-over-year basis. Equities research analysts forecast that Simon Property Group will post 12.54 EPS for the current year.

Simon Property Group Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, June 30th. Shareholders of record on Monday, June 9th will be given a $2.10 dividend. The ex-dividend date is Monday, June 9th. This represents a $8.40 dividend on an annualized basis and a yield of 5.36%. Simon Property Group’s dividend payout ratio is currently 133.76%.

Hedge Funds Weigh In On Simon Property Group

Hedge funds have recently modified their holdings of the business. Park Square Financial Group LLC lifted its holdings in shares of Simon Property Group by 108.0% during the first quarter. Park Square Financial Group LLC now owns 156 shares of the real estate investment trust’s stock worth $26,000 after purchasing an additional 81 shares during the period. Hopwood Financial Services Inc. acquired a new position in shares of Simon Property Group during the fourth quarter worth $28,000. WR Wealth Planners LLC lifted its holdings in shares of Simon Property Group by 328.2% during the fourth quarter. WR Wealth Planners LLC now owns 167 shares of the real estate investment trust’s stock worth $29,000 after purchasing an additional 128 shares during the period. Richardson Financial Services Inc. lifted its holdings in shares of Simon Property Group by 185.0% during the first quarter. Richardson Financial Services Inc. now owns 171 shares of the real estate investment trust’s stock worth $28,000 after purchasing an additional 111 shares during the period. Finally, New England Capital Financial Advisors LLC acquired a new position in shares of Simon Property Group during the fourth quarter worth $30,000. Institutional investors and hedge funds own 93.01% of the company’s stock.

About Simon Property Group

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.