Simon Property Group Inc (NYSE:SPG) has been assigned a consensus rating of “Buy” from the twenty-one research firms that are covering the company, Marketbeat reports. One research analyst has rated the stock with a sell recommendation, seven have assigned a hold recommendation and thirteen have given a buy recommendation to the company. The average 1 year price objective among brokers that have covered the stock in the last year is $191.62.

A number of equities analysts have recently weighed in on the company. ValuEngine lowered Simon Property Group from a “buy” rating to a “hold” rating in a research note on Friday, February 2nd. Boenning Scattergood reaffirmed a “buy” rating and issued a $240.00 price objective on shares of Simon Property Group in a research note on Thursday, February 1st. Barclays reaffirmed a “buy” rating and issued a $190.00 price objective on shares of Simon Property Group in a research note on Wednesday, January 31st. Zacks Investment Research raised Simon Property Group from a “sell” rating to a “hold” rating in a research note on Friday, January 19th. Finally, Raymond James Financial set a $185.00 price objective on Simon Property Group and gave the stock a “buy” rating in a research note on Sunday, December 3rd.

In related news, CAO Steven K. Broadwater sold 621 shares of the stock in a transaction that occurred on Friday, December 29th. The stock was sold at an average price of $171.95, for a total transaction of $106,780.95. Following the completion of the transaction, the chief accounting officer now directly owns 2,290 shares of the company’s stock, valued at $393,765.50. The sale was disclosed in a filing with the SEC, which is available through this link. 8.42% of the stock is currently owned by corporate insiders.

A number of hedge funds have recently modified their holdings of the business. Cohen & Steers Inc. raised its position in Simon Property Group by 6.2% during the third quarter. Cohen & Steers Inc. now owns 12,350,345 shares of the real estate investment trust’s stock valued at $1,988,529,000 after purchasing an additional 719,375 shares during the period. APG Asset Management US Inc. raised its position in Simon Property Group by 0.3% during the fourth quarter. APG Asset Management US Inc. now owns 7,517,948 shares of the real estate investment trust’s stock valued at $1,291,132,000 after purchasing an additional 24,208 shares during the period. Bank of New York Mellon Corp raised its position in Simon Property Group by 13.5% during the third quarter. Bank of New York Mellon Corp now owns 6,628,178 shares of the real estate investment trust’s stock valued at $1,067,204,000 after purchasing an additional 789,384 shares during the period. Dimensional Fund Advisors LP raised its position in Simon Property Group by 0.5% during the third quarter. Dimensional Fund Advisors LP now owns 4,460,741 shares of the real estate investment trust’s stock valued at $718,227,000 after purchasing an additional 21,676 shares during the period. Finally, PGGM Investments raised its position in Simon Property Group by 2.3% during the third quarter. PGGM Investments now owns 3,637,334 shares of the real estate investment trust’s stock valued at $585,647,000 after purchasing an additional 83,093 shares during the period. Institutional investors and hedge funds own 47.57% of the company’s stock.

Shares of Simon Property Group (NYSE:SPG) traded up $5.02 on Friday, reaching $157.20. The company’s stock had a trading volume of 3,211,319 shares, compared to its average volume of 2,102,644. The company has a debt-to-equity ratio of 5.87, a quick ratio of 0.93 and a current ratio of 1.75. The stock has a market capitalization of $48,690.00, a PE ratio of 25.19, a price-to-earnings-growth ratio of 1.97 and a beta of 0.55. Simon Property Group has a fifty-two week low of $150.15 and a fifty-two week high of $187.35.

Simon Property Group (NYSE:SPG) last issued its quarterly earnings results on Wednesday, January 31st. The real estate investment trust reported $3.12 EPS for the quarter, hitting analysts’ consensus estimates of $3.12. The business had revenue of $1.43 billion during the quarter, compared to analysts’ expectations of $1.45 billion. Simon Property Group had a return on equity of 44.93% and a net margin of 35.14%. The business’s quarterly revenue was up .1% on a year-over-year basis. During the same quarter in the prior year, the business posted $1.26 earnings per share. equities research analysts forecast that Simon Property Group will post 12 EPS for the current year.

The company also recently declared a quarterly dividend, which will be paid on Wednesday, February 28th. Investors of record on Wednesday, February 14th will be paid a dividend of $1.95 per share. The ex-dividend date of this dividend is Tuesday, February 13th. This is a positive change from Simon Property Group’s previous quarterly dividend of $1.85. This represents a $7.80 dividend on an annualized basis and a yield of 4.96%. Simon Property Group’s dividend payout ratio is presently 118.59%.

COPYRIGHT VIOLATION WARNING: This piece of content was published by Daily Political and is owned by of Daily Political. If you are viewing this piece of content on another domain, it was stolen and republished in violation of U.S. & international trademark and copyright legislation. The original version of this piece of content can be accessed at https://www.dailypolitical.com/2018/02/09/simon-property-group-inc-spg-given-consensus-rating-of-buy-by-analysts.html.

Simon Property Group Company Profile

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.

Analyst Recommendations for Simon Property Group (NYSE:SPG)

Receive News & Ratings for Simon Property Group Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Simon Property Group and related companies with MarketBeat.com's FREE daily email newsletter.