Analysts Set Simon Property Group, Inc. (NYSE:SPG) Target Price at $178.44

Simon Property Group, Inc. (NYSE:SPG) has earned a consensus recommendation of “Hold” from the nine analysts that are currently covering the stock, MarketBeat reports. Five research analysts have rated the stock with a hold recommendation and four have assigned a buy recommendation to the company. The average 1-year target price among brokerages that have updated their coverage on the stock in the last year is $178.44.

A number of equities research analysts have issued reports on the company. Deutsche Bank Aktiengesellschaft began coverage on Simon Property Group in a research report on Tuesday, December 17th. They set a “hold” rating and a $195.00 price target for the company. StockNews.com raised shares of Simon Property Group from a “hold” rating to a “buy” rating in a research report on Friday, February 28th. Piper Sandler upgraded shares of Simon Property Group from a “neutral” rating to an “overweight” rating and raised their price target for the company from $175.00 to $205.00 in a report on Wednesday, February 5th. Mizuho boosted their price objective on shares of Simon Property Group from $158.00 to $182.00 and gave the stock a “neutral” rating in a research note on Wednesday, December 4th. Finally, Jefferies Financial Group raised shares of Simon Property Group from a “hold” rating to a “buy” rating and raised their target price for the company from $179.00 to $198.00 in a research note on Thursday, January 2nd.

Simon Property Group Price Performance

SPG opened at $174.58 on Friday. Simon Property Group has a 1 year low of $139.25 and a 1 year high of $190.14. The company’s 50 day simple moving average is $178.05 and its 200 day simple moving average is $174.32. The stock has a market capitalization of $56.96 billion, a PE ratio of 24.05, a P/E/G ratio of 10.10 and a beta of 1.78. The company has a debt-to-equity ratio of 7.19, a quick ratio of 2.00 and a current ratio of 1.28.

Simon Property Group (NYSE:SPG) last announced its quarterly earnings results on Tuesday, February 4th. The real estate investment trust reported $3.68 earnings per share for the quarter, beating analysts’ consensus estimates 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 expect that Simon Property Group will post 12.54 EPS for the current year.

Simon Property Group Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, March 31st. Investors of record on Monday, March 10th will be issued a dividend of $2.10 per share. This represents a $8.40 dividend on an annualized basis and a yield of 4.81%. The ex-dividend date of this dividend is Monday, March 10th. Simon Property Group’s payout ratio is 115.70%.

Insider Buying and Selling

In other Simon Property Group news, Director Reuben S. Leibowitz acquired 465 shares of the stock in a transaction on Monday, December 30th. The stock was purchased at an average price of $168.59 per share, for a total transaction of $78,394.35. Following the purchase, the director now directly owns 55,919 shares in the company, valued at $9,427,384.21. This trade represents a 0.84 % increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 8.50% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Simon Property Group

Several institutional investors and hedge funds have recently made changes to their positions in the business. Hopwood Financial Services Inc. acquired a new stake in Simon Property Group in the fourth quarter valued at $28,000. WR Wealth Planners LLC raised its stake in shares of Simon Property Group by 328.2% in the 4th quarter. WR Wealth Planners LLC now owns 167 shares of the real estate investment trust’s stock valued at $29,000 after purchasing an additional 128 shares in the last quarter. Capital Performance Advisors LLP acquired a new stake in shares of Simon Property Group in the 3rd quarter valued at about $30,000. New England Capital Financial Advisors LLC bought a new position in shares of Simon Property Group during the fourth quarter worth about $30,000. Finally, Caisse Des Depots ET Consignations acquired a new position in Simon Property Group in the fourth quarter worth about $31,000. 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 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.