Simon Property Group, Inc. (NYSE:SPG) Plans Quarterly Dividend of $2.10

Simon Property Group, Inc. (NYSE:SPG) declared a quarterly dividend on Tuesday, February 4th,RTT News reports. Investors of record on Monday, March 10th will be given a dividend of 2.10 per share by the real estate investment trust on Monday, March 31st. This represents a $8.40 dividend on an annualized basis and a yield of 4.69%. The ex-dividend date of this dividend is Monday, March 10th.

Simon Property Group has increased its dividend by an average of 11.5% annually over the last three years. Simon Property Group has a payout ratio of 128.0% meaning the company cannot currently cover its dividend with earnings alone and is relying on its balance sheet to cover its dividend payments. Equities analysts expect Simon Property Group to earn $12.44 per share next year, which means the company should continue to be able to cover its $8.40 annual dividend with an expected future payout ratio of 67.5%.

Simon Property Group Trading Up 3.3 %

SPG opened at $179.02 on Thursday. Simon Property Group has a fifty-two week low of $137.25 and a fifty-two week high of $186.00. The company has a debt-to-equity ratio of 8.20, a current ratio of 2.00 and a quick ratio of 2.00. The firm has a market capitalization of $58.41 billion, a price-to-earnings ratio of 23.84, a PEG ratio of 9.31 and a beta of 1.74. The company’s 50 day moving average price is $175.74 and its two-hundred day moving average price is $170.06.

Simon Property Group (NYSE:SPG) last posted its quarterly earnings data on Tuesday, February 4th. The real estate investment trust reported $3.68 EPS for the quarter, beating analysts’ consensus estimates of $1.98 by $1.70. Simon Property Group had a net margin of 43.36% and a return on equity of 76.21%. As a group, research analysts predict that Simon Property Group will post 12.72 earnings per share for the current year.

Wall Street Analysts Forecast Growth

A number of research firms have weighed in on SPG. StockNews.com lowered shares of Simon Property Group from a “buy” rating to a “hold” rating in a research note on Thursday, October 10th. Piper Sandler raised shares of Simon Property Group from a “neutral” rating to an “overweight” rating and raised their price objective for the company from $175.00 to $205.00 in a research note on Wednesday. Mizuho raised their price objective on shares of Simon Property Group from $158.00 to $182.00 and gave the company a “neutral” rating in a research note on Wednesday, December 4th. 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 research report on Thursday, January 2nd. Finally, Deutsche Bank Aktiengesellschaft started coverage on shares of Simon Property Group in a research report on Tuesday, December 17th. They set a “hold” rating and a $195.00 price target on the stock. Seven analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and an average target price of $175.10.

Insider Transactions at Simon Property Group

In other news, Director Reuben S. Leibowitz acquired 465 shares of Simon Property Group stock in a transaction that occurred on Monday, December 30th. The stock was bought at an average price of $168.59 per share, with a total value of $78,394.35. Following the completion of the purchase, the director now owns 55,919 shares in the company, valued at approximately $9,427,384.21. The trade was a 0.84 % increase in their ownership of the stock. The purchase was disclosed in a legal filing with the SEC, which is available through this link. Corporate insiders own 8.60% 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.