Simon Property Group Inc (SPG) Given Consensus Rating of “Buy” by Analysts
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.
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%.
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.
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