BMO Capital Markets set a $175.00 price target on Simon Property Group, Inc. (NYSE:SPG) in a research note published on Friday, October 27th. The firm currently has a buy rating on the real estate investment trust’s stock.
A number of other equities research analysts also recently commented on the company. Stifel Nicolaus reiterated a hold rating and set a $170.00 price objective on shares of Simon Property Group in a research report on Thursday, October 12th. Zacks Investment Research upgraded Simon Property Group from a hold rating to a buy rating and set a $182.00 price objective for the company in a research report on Wednesday, October 11th. Jefferies Group LLC restated a buy rating and issued a $200.00 target price (up previously from $198.00) on shares of Simon Property Group in a report on Thursday, August 24th. Argus reduced their target price on Simon Property Group from $210.00 to $200.00 and set a buy rating for the company in a report on Tuesday, August 22nd. Finally, BidaskClub lowered Simon Property Group from a hold rating to a sell rating in a report on Wednesday, August 16th. One research analyst has rated the stock with a sell rating, seven have given a hold rating and twelve have issued a buy rating to the company. The stock has an average rating of Buy and an average price target of $191.45.
Shares of Simon Property Group (SPG) opened at $163.75 on Friday. Simon Property Group has a 52-week low of $150.15 and a 52-week high of $189.25. The company has a market capitalization of $104,762.34, a price-to-earnings ratio of 14.87, a PEG ratio of 2.20 and a beta of 0.60. The company has a debt-to-equity ratio of 5.57, a quick ratio of 0.93 and a current ratio of 0.93.
Simon Property Group (NYSE:SPG) last announced its quarterly earnings data on Friday, October 27th. The real estate investment trust reported $2.89 EPS for the quarter, beating analysts’ consensus estimates of $2.88 by $0.01. Simon Property Group had a return on equity of 41.85% and a net margin of 31.96%. The company had revenue of $1.40 billion during the quarter, compared to the consensus estimate of $1.39 billion. During the same quarter in the prior year, the firm earned $2.70 EPS. The company’s quarterly revenue was up 3.4% compared to the same quarter last year. sell-side analysts forecast that Simon Property Group will post 11.21 earnings per share for the current fiscal year.
The business also recently declared a quarterly dividend, which will be paid on Thursday, November 30th. Stockholders of record on Thursday, November 16th will be paid a $1.85 dividend. The ex-dividend date is Wednesday, November 15th. This is an increase from Simon Property Group’s previous quarterly dividend of $1.80. This represents a $7.40 dividend on an annualized basis and a dividend yield of 4.52%. Simon Property Group’s dividend payout ratio is 126.98%.
A number of institutional investors have recently bought and sold shares of the business. Zeke Capital Advisors LLC increased its position in Simon Property Group by 189.3% during the third quarter. Zeke Capital Advisors LLC now owns 5,092 shares of the real estate investment trust’s stock worth $820,000 after buying an additional 3,332 shares during the last quarter. Amalgamated Bank increased its position in Simon Property Group by 2.2% during the third quarter. Amalgamated Bank now owns 37,313 shares of the real estate investment trust’s stock worth $6,008,000 after buying an additional 794 shares during the last quarter. Presima Inc. increased its position in Simon Property Group by 35.6% during the third quarter. Presima Inc. now owns 503,800 shares of the real estate investment trust’s stock worth $81,117,000 after buying an additional 132,215 shares during the last quarter. Cadence Capital Management LLC increased its position in Simon Property Group by 4.8% during the third quarter. Cadence Capital Management LLC now owns 21,537 shares of the real estate investment trust’s stock worth $3,468,000 after buying an additional 990 shares during the last quarter. Finally, Verity Asset Management Inc. acquired a new position in Simon Property Group during the third quarter worth $295,000. 95.24% of the stock is currently owned by hedge funds and other institutional investors.
About Simon Property Group
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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