Simon Property Group (NYSE:SPG) had its target price increased by Raymond James from $185.00 to $190.00 in a report published on Monday. Raymond James currently has an outperform rating on the real estate investment trust’s stock.
Several other equities research analysts have also commented on SPG. Zacks Investment Research lowered shares of Simon Property Group from a buy rating to a hold rating in a research note on Monday. Barclays lifted their price target on shares of Simon Property Group from $184.00 to $192.00 and gave the stock an overweight rating in a research note on Tuesday, July 17th. BMO Capital Markets reiterated a buy rating and set a $175.00 price target on shares of Simon Property Group in a research note on Monday, July 30th. Jefferies Financial Group restated a $170.72 rating and issued a $194.00 price objective on shares of Simon Property Group in a research note on Wednesday, July 18th. Finally, Scotiabank started coverage on shares of Simon Property Group in a research note on Tuesday, October 16th. They issued a sector perform rating on the stock. Four equities research analysts have rated the stock with a hold rating and ten have given a buy rating to the company’s stock. The stock has a consensus rating of Buy and an average target price of $195.42.
NYSE:SPG traded down $1.99 during midday trading on Monday, hitting $179.65. 24,957 shares of the company were exchanged, compared to its average volume of 1,865,568. Simon Property Group has a fifty-two week low of $145.78 and a fifty-two week high of $188.21. The company has a debt-to-equity ratio of 6.14, a current ratio of 1.12 and a quick ratio of 1.13. The firm has a market capitalization of $60.14 billion, a P/E ratio of 16.01, a P/E/G ratio of 2.55 and a beta of 0.53.
Simon Property Group (NYSE:SPG) last announced its quarterly earnings results on Thursday, October 25th. The real estate investment trust reported $1.80 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $1.73 by $0.07. Simon Property Group had a net margin of 40.83% and a return on equity of 57.87%. The firm had revenue of $1.41 billion for the quarter, compared to analyst estimates of $1.42 billion. On average, sell-side analysts anticipate that Simon Property Group will post 12.12 EPS for the current year.
The firm also recently disclosed a quarterly dividend, which will be paid on Friday, November 30th. Shareholders of record on Friday, November 16th will be paid a $2.00 dividend. The ex-dividend date is Thursday, November 15th. This represents a $8.00 dividend on an annualized basis and a yield of 4.45%. Simon Property Group’s dividend payout ratio is presently 71.36%.
In other Simon Property Group news, insider John Rulli sold 6,000 shares of Simon Property Group stock in a transaction on Tuesday, October 30th. The shares were sold at an average price of $186.52, for a total value of $1,119,120.00. The transaction was disclosed in a document filed with the SEC, which is available through this link. Insiders own 8.64% of the company’s stock.
A number of hedge funds and other institutional investors have recently bought and sold shares of the business. Kaizen Advisory LLC increased its stake in shares of Simon Property Group by 138.1% during the second quarter. Kaizen Advisory LLC now owns 712 shares of the real estate investment trust’s stock worth $121,000 after acquiring an additional 413 shares during the period. TRUE Private Wealth Advisors acquired a new position in shares of Simon Property Group during the third quarter worth about $156,000. Peapack Gladstone Financial Corp acquired a new position in shares of Simon Property Group during the second quarter worth about $203,000. Cumberland Partners Ltd acquired a new position in shares of Simon Property Group during the second quarter worth about $204,000. Finally, Murphy Capital Management Inc. acquired a new position in shares of Simon Property Group during the second quarter worth about $205,000. Institutional investors own 92.72% of the company’s stock.
About Simon Property Group
Simon is a global leader 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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