Simon Property Group (NYSE:SPG) Raised to Buy at StockNews.com

StockNews.com upgraded shares of Simon Property Group (NYSE:SPG) from a hold rating to a buy rating in a report published on Friday.

Several other research analysts have also weighed in on SPG. Mizuho increased their price objective on shares of Simon Property Group from $158.00 to $182.00 and gave the stock a “neutral” rating in a report on Wednesday, December 4th. Deutsche Bank Aktiengesellschaft initiated coverage on shares of Simon Property Group in a research note on Tuesday, December 17th. They set a “hold” rating and a $195.00 price objective on the stock. Scotiabank set a $186.00 price target on shares of Simon Property Group in a research report on Friday, February 28th. Jefferies Financial Group raised shares of Simon Property Group from a “hold” rating to a “buy” rating and lifted their price objective for the stock from $179.00 to $198.00 in a report on Thursday, January 2nd. Finally, Piper Sandler raised shares of Simon Property Group from a “neutral” rating to an “overweight” rating and boosted their price target for the company from $175.00 to $205.00 in a report on Wednesday, February 5th. Five research analysts have rated the stock with a hold rating and five have issued a buy rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $180.33.

Simon Property Group Stock Down 1.4 %

Shares of Simon Property Group stock opened at $162.12 on Friday. The firm has a fifty day moving average of $176.11 and a two-hundred day moving average of $174.43. The company has a debt-to-equity ratio of 7.19, a quick ratio of 2.00 and a current ratio of 1.28. The company has a market cap of $52.90 billion, a P/E ratio of 22.33, a PEG ratio of 10.10 and a beta of 1.78. Simon Property Group has a one year low of $139.25 and a one year high of $190.14.

Simon Property Group (NYSE:SPG) last issued 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 41.49% and a return on equity of 74.02%. On average, analysts forecast that Simon Property Group will post 12.54 earnings per share for the current year.

Simon Property Group Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Monday, March 31st. Stockholders of record on Monday, March 10th will be paid a $2.10 dividend. The ex-dividend date is Monday, March 10th. This represents a $8.40 dividend on an annualized basis and a dividend yield of 5.18%. Simon Property Group’s dividend payout ratio (DPR) is presently 115.70%.

Insider Activity

In other news, Director Reuben S. Leibowitz acquired 465 shares of the stock in a transaction that occurred on Monday, December 30th. The stock was purchased at an average cost of $168.59 per share, for a total transaction of $78,394.35. Following the completion of the transaction, 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 purchase was disclosed in a document filed with the SEC, which is available at this hyperlink. 8.60% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Simon Property Group

Several institutional investors have recently modified their holdings of the business. B. Metzler seel. Sohn & Co. Holding AG bought a new stake in shares of Simon Property Group during the 3rd quarter valued at $1,590,000. Connor Clark & Lunn Investment Management Ltd. grew its stake in Simon Property Group by 126.2% during the third quarter. Connor Clark & Lunn Investment Management Ltd. now owns 9,279 shares of the real estate investment trust’s stock worth $1,568,000 after purchasing an additional 5,177 shares during the period. Advisors Asset Management Inc. boosted its holdings in Simon Property Group by 8.4% in the third quarter. Advisors Asset Management Inc. now owns 17,874 shares of the real estate investment trust’s stock worth $3,021,000 after acquiring an additional 1,387 shares in the last quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. boosted its holdings in Simon Property Group by 168.7% in the third quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. now owns 219,579 shares of the real estate investment trust’s stock worth $37,114,000 after acquiring an additional 137,850 shares in the last quarter. Finally, Intech Investment Management LLC boosted its holdings in Simon Property Group by 21.2% in the third quarter. Intech Investment Management LLC now owns 31,388 shares of the real estate investment trust’s stock worth $5,305,000 after acquiring an additional 5,484 shares in the last quarter. Institutional investors 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.