Simon Property Group (NYSE:SPG) Receives New Coverage from Analysts at StockNews.com

StockNews.com began coverage on shares of Simon Property Group (NYSE:SPG – Get Rating) in a report published on Thursday morning. The firm issued a hold rating on the real estate investment trust’s stock.

SPG has been the subject of several other reports. Truist Financial raised their target price on Simon Property Group from $136.00 to $160.00 and gave the stock a buy rating in a research report on Thursday, December 2nd. Morgan Stanley cut their price objective on Simon Property Group from $180.00 to $160.00 and set an overweight rating for the company in a report on Monday, March 7th. Finally, Mizuho cut their price objective on Simon Property Group from $162.00 to $158.00 and set a neutral rating for the company in a report on Tuesday, February 8th. Seven research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company’s stock. According to MarketBeat, the company has an average rating of Buy and an average target price of $159.47.

Shares of Simon Property Group stock traded up $0.66 during midday trading on Thursday, hitting $132.22. The company had a trading volume of 32,062 shares, compared to its average volume of 2,229,055. The business’s 50 day simple moving average is $137.92 and its two-hundred day simple moving average is $146.23. The stock has a market cap of $43.45 billion, a PE ratio of 19.23, a P/E/G ratio of 2.53 and a beta of 1.51. The company has a debt-to-equity ratio of 6.64, a current ratio of 1.01 and a quick ratio of 1.01. Simon Property Group has a 1-year low of $110.96 and a 1-year high of $171.12.

Simon Property Group (NYSE:SPG – Get Rating) last announced its quarterly earnings data on Sunday, February 6th. The real estate investment trust reported $1.53 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.44 by $0.09. The business had revenue of $1.33 billion for the quarter, compared to the consensus estimate of $1.26 billion. Simon Property Group had a net margin of 43.97% and a return on equity of 58.02%. Simon Property Group’s quarterly revenue was up 17.2% on a year-over-year basis. During the same quarter last year, the company posted $2.17 earnings per share. On average, sell-side analysts expect that Simon Property Group will post 11.74 EPS for the current fiscal year.

The company also recently announced a quarterly dividend, which was paid on Thursday, March 31st. Shareholders of record on Thursday, March 10th were paid a $1.65 dividend. This represents a $6.60 annualized dividend and a yield of 4.99%. Simon Property Group’s payout ratio is 96.49%.

Several institutional investors have recently made changes to their positions in the company. Affinity Investment Advisors LLC increased its holdings in shares of Simon Property Group by 1.5% during the 3rd quarter. Affinity Investment Advisors LLC now owns 4,353 shares of the real estate investment trust’s stock worth $566,000 after acquiring an additional 63 shares during the last quarter. Eagle Asset Management Inc. increased its holdings in shares of Simon Property Group by 0.5% during the 3rd quarter. Eagle Asset Management Inc. now owns 13,000 shares of the real estate investment trust’s stock worth $1,689,000 after acquiring an additional 64 shares during the last quarter. CX Institutional increased its holdings in shares of Simon Property Group by 10.5% during the 3rd quarter. CX Institutional now owns 682 shares of the real estate investment trust’s stock worth $89,000 after acquiring an additional 65 shares during the last quarter. Brown Advisory Inc. increased its holdings in shares of Simon Property Group by 3.2% during the 4th quarter. Brown Advisory Inc. now owns 2,226 shares of the real estate investment trust’s stock worth $356,000 after acquiring an additional 69 shares during the last quarter. Finally, Gateway Advisory LLC increased its holdings in shares of Simon Property Group by 2.0% during the 3rd quarter. Gateway Advisory LLC now owns 3,756 shares of the real estate investment trust’s stock worth $488,000 after acquiring an additional 72 shares during the last quarter. Institutional investors own 86.62% of the company’s stock.

Simon Property Group Company Profile (Get Rating)

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.

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