Simon Property Group (NYSE:SPG) Rating Increased to Strong-Buy at Jefferies Financial Group

Jefferies Financial Group upgraded shares of Simon Property Group (NYSE:SPG) to a strong-buy rating in a research note published on Friday morning,Zacks.com reports.

Several other research firms also recently weighed in on SPG. Evercore set a $208.00 price target on shares of Simon Property Group in a research report on Monday, June 8th. JPMorgan Chase & Co. increased their target price on Simon Property Group from $210.00 to $217.00 and gave the company a “neutral” rating in a report on Monday, June 1st. Morgan Stanley raised their target price on Simon Property Group from $205.00 to $207.00 and gave the company an “equal weight” rating in a research report on Tuesday, June 9th. UBS Group set a $220.00 price target on Simon Property Group in a research note on Thursday, June 18th. Finally, Stifel Nicolaus increased their price objective on Simon Property Group from $185.00 to $194.00 and gave the company a “hold” rating in a research note on Tuesday, May 12th. Two investment analysts have rated the stock with a Strong Buy rating, four have given a Buy rating and nine have given a Hold rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $209.71.

Simon Property Group Price Performance

Shares of NYSE SPG opened at $227.13 on Friday. The firm has a market cap of $73.66 billion, a PE ratio of 15.78, a PEG ratio of 4.07 and a beta of 1.31. The firm has a fifty day moving average of $207.23 and a 200 day moving average of $196.03. The company has a debt-to-equity ratio of 4.68, a quick ratio of 0.84 and a current ratio of 0.84. Simon Property Group has a one year low of $158.00 and a one year high of $228.58.

Simon Property Group (NYSE:SPG) last posted its quarterly earnings data on Monday, May 11th. The real estate investment trust reported $1.48 earnings per share for the quarter, topping analysts’ consensus estimates of $1.46 by $0.02. Simon Property Group had a net margin of 70.60% and a return on equity of 104.54%. The company had revenue of $1.76 billion during the quarter, compared to analysts’ expectations of $1.54 billion. During the same period in the prior year, the business posted $2.95 earnings per share. The firm’s revenue for the quarter was up 19.3% on a year-over-year basis. Simon Property Group has set its FY 2026 guidance at 13.100-13.250 EPS. As a group, research analysts predict that Simon Property Group will post 13.21 EPS for the current fiscal year.

Simon Property Group Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, June 30th. Shareholders of record on Tuesday, June 9th will be paid a dividend of $2.25 per share. This represents a $9.00 dividend on an annualized basis and a yield of 4.0%. This is a boost from Simon Property Group’s previous quarterly dividend of $2.20. The ex-dividend date is Tuesday, June 9th. Simon Property Group’s payout ratio is currently 62.54%.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of the stock. Stance Capital LLC acquired a new position in shares of Simon Property Group during the third quarter worth $26,000. Wilkerson Advisory Group LLC acquired a new stake in Simon Property Group during the 4th quarter worth $29,000. SHP Wealth Management acquired a new stake in shares of Simon Property Group during the fourth quarter worth about $34,000. Dynamic Wealth Strategies LLC lifted its position in Simon Property Group by 195.8% during the 1st quarter. Dynamic Wealth Strategies LLC now owns 210 shares of the real estate investment trust’s stock worth $39,000 after acquiring an additional 139 shares during the period. Finally, Tompkins Financial Corp acquired a new stake in shares of Simon Property Group during the fourth quarter worth $42,000. 93.01% of the stock is currently owned by hedge funds and other institutional investors.

About Simon Property Group

Simon Property Group, Inc (NYSE: SPG) is a publicly traded real estate investment trust (REIT) that owns, develops and manages retail real estate properties. Its core business activities include acquisition, development, leasing and property management of regional malls, outlet centers and mixed?use retail destinations. The company operates retail brands that include high?profile regional shopping centers and the Premium Outlets platform, and it provides services such as tenant leasing, marketing, property operations and capital projects to optimize asset performance.

Simon’s portfolio spans a broad mix of enclosed malls, open?air centers, outlet properties and mixed?use developments, and the company pursues redevelopment and repositioning to adapt properties to changing consumer and retail trends.