Simon Property Group, Inc. (NYSE:SPG) Receives $140.22 Average Target Price from Analysts

Shares of Simon Property Group, Inc. (NYSE:SPG) have received an average recommendation of “Moderate Buy” from the eight ratings firms that are covering the stock, Marketbeat reports. Four analysts have rated the stock with a hold recommendation and four have issued a buy recommendation on the company. The average twelve-month target price among brokers that have issued ratings on the stock in the last year is $140.22.

Several analysts have recently issued reports on SPG shares. Piper Sandler increased their price target on shares of Simon Property Group from $148.00 to $172.00 and gave the stock an “overweight” rating in a research report on Wednesday, December 20th. Truist Financial increased their price target on shares of Simon Property Group from $139.00 to $147.00 and gave the stock a “hold” rating in a research report on Friday, March 22nd. The Goldman Sachs Group increased their price target on shares of Simon Property Group from $144.00 to $161.00 and gave the stock a “buy” rating in a research report on Thursday, December 21st. Evercore ISI increased their price target on shares of Simon Property Group from $142.00 to $150.00 and gave the stock an “in-line” rating in a research report on Wednesday, February 28th. Finally, Morgan Stanley increased their price target on shares of Simon Property Group from $143.00 to $145.00 and gave the stock an “equal weight” rating in a research report on Monday, February 26th.

Simon Property Group Trading Down 1.7 %

Shares of SPG stock opened at $142.39 on Tuesday. The company has a debt-to-equity ratio of 7.54, a current ratio of 1.77 and a quick ratio of 1.77. The firm has a market cap of $46.40 billion, a PE ratio of 20.40, a price-to-earnings-growth ratio of 7.60 and a beta of 1.65. The company has a 50-day moving average of $149.67 and a two-hundred day moving average of $134.93. Simon Property Group has a 1-year low of $100.17 and a 1-year high of $157.82.

Simon Property Group (NYSE:SPG) last announced its earnings results on Monday, February 5th. The real estate investment trust reported $2.29 earnings per share for the quarter, missing the consensus estimate of $3.34 by ($1.05). The company had revenue of $1.53 billion for the quarter, compared to analysts’ expectations of $1.38 billion. Simon Property Group had a return on equity of 70.97% and a net margin of 42.30%. The company’s quarterly revenue was up 9.1% compared to the same quarter last year. During the same period last year, the business earned $3.15 EPS. On average, analysts predict that Simon Property Group will post 12.06 EPS for the current year.

Simon Property Group declared that its Board of Directors has initiated a share repurchase program on Thursday, February 8th that permits the company to repurchase $2.00 billion in shares. This repurchase authorization permits the real estate investment trust to reacquire up to 4.2% of its stock through open market purchases. Stock repurchase programs are usually a sign that the company’s leadership believes its shares are undervalued.

Simon Property Group Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, March 29th. Investors of record on Friday, March 8th were paid a $1.95 dividend. The ex-dividend date of this dividend was Thursday, March 7th. This represents a $7.80 dividend on an annualized basis and a yield of 5.48%. This is an increase from Simon Property Group’s previous quarterly dividend of $1.90. Simon Property Group’s payout ratio is currently 111.75%.

Institutional Inflows and Outflows

A number of institutional investors have recently added to or reduced their stakes in the company. Signet Financial Management LLC lifted its stake in Simon Property Group by 6.8% in the first quarter. Signet Financial Management LLC now owns 11,733 shares of the real estate investment trust’s stock worth $1,836,000 after acquiring an additional 749 shares during the last quarter. Aspiriant LLC purchased a new stake in shares of Simon Property Group during the 1st quarter worth approximately $1,139,000. Brookstone Capital Management lifted its position in shares of Simon Property Group by 9.6% during the 1st quarter. Brookstone Capital Management now owns 13,991 shares of the real estate investment trust’s stock worth $2,189,000 after buying an additional 1,230 shares during the last quarter. CFM Wealth Partners LLC purchased a new stake in shares of Simon Property Group during the 1st quarter worth approximately $595,000. Finally, Kingswood Wealth Advisors LLC lifted its position in shares of Simon Property Group by 83.6% during the 1st quarter. Kingswood Wealth Advisors LLC now owns 3,082 shares of the real estate investment trust’s stock worth $482,000 after buying an additional 1,403 shares during the last quarter. Hedge funds and other institutional investors own 93.01% of the company’s stock.

Simon Property Group Company Profile

Simon is a real estate investment trust engaged in the ownership of premier shopping, dining, entertainment and mixed-use destinations and an S&P 100 company (Simon Property Group, NYSE: SPG). Our properties across North America, Europe and Asia provide community gathering places for millions of people every day and generate billions in annual sales.