Traders Sell Simon Property Group Inc. (SPG) on Strength (SPG)
Investors sold shares of Simon Property Group Inc. (NYSE:SPG) on strength during trading hours on Friday. $34.48 million flowed into the stock on the tick-up and $58.11 million flowed out of the stock on the tick-down, for a money net flow of $23.63 million out of the stock. Of all companies tracked, Simon Property Group had the 0th highest net out-flow for the day. Simon Property Group traded up $0.55 for the day and closed at $216.02
Several analysts recently weighed in on the stock. Deutsche Bank AG lifted their target price on shares of Simon Property Group from $232.00 to $233.00 and gave the company a “buy” rating in a report on Wednesday, August 17th. Argus set a $245.00 price target on shares of Simon Property Group and gave the company a “buy” rating in a research report on Thursday, August 11th. Zacks Investment Research cut shares of Simon Property Group from a “buy” rating to a “hold” rating in a research report on Wednesday, August 3rd. Vetr raised shares of Simon Property Group from a “sell” rating to a “hold” rating and set a $232.00 price target for the company in a research report on Tuesday, August 2nd. Finally, RBC Capital Markets cut shares of Simon Property Group from an “outperform” rating to a “sector perform” rating and raised their price target for the company from $220.00 to $230.00 in a research report on Tuesday, August 2nd. They noted that the move was a valuation call. Five investment analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company. The stock currently has a consensus rating of “Buy” and an average target price of $234.45.
The company’s 50-day moving average price is $218.85 and its 200-day moving average price is $207.33. The firm has a market cap of $68.09 billion and a P/E ratio of 38.49.
Simon Property Group (NYSE:SPG) last released its quarterly earnings data on Wednesday, July 27th. The real estate investment trust reported $2.63 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.62 by $0.01. During the same period in the previous year, the company earned $2.41 EPS. The business earned $1.32 billion during the quarter, compared to analyst estimates of $1.33 billion. Simon Property Group’s revenue was down 2.5% on a year-over-year basis. Equities research analysts anticipate that Simon Property Group Inc. will post $10.87 EPS for the current year.
The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, August 31st. Stockholders of record on Wednesday, August 17th were given a $1.65 dividend. This represents a $6.60 annualized dividend and a dividend yield of 3.05%. This is a positive change from Simon Property Group’s previous quarterly dividend of $1.60. The ex-dividend date was Monday, August 15th.
In other news, CFO Andrew Juster sold 7,000 shares of the stock in a transaction on Monday, August 29th. The shares were sold at an average price of $215.68, for a total value of $1,509,760.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink.
Simon Property Group, Inc is a self-administered and self-managed real estate investment trust (REIT). The Company owns, develops and manages retail real estate properties, which consist primarily of malls, Premium Outlets and The Mills. Simon Property Group, L.P. (Operating Partnership), is the Company’s partnership subsidiary that owns all of its real estate properties and other assets.
Get Analysts' Upgrades and Downgrades Daily - Enter your email address below to receive a concise daily summary of analysts' upgrades, downgrades and new coverage with MarketBeat.com's FREE daily email newsletter.