Several analysts have recently updated their ratings and price targets for Simon Property Group (NYSE: SPG):
- 7/18/2022 – Simon Property Group had its price target lowered by analysts at Deutsche Bank Aktiengesellschaft from $173.00 to $129.00.
- 7/15/2022 – Simon Property Group had its price target lowered by analysts at Morgan Stanley from $145.00 to $133.00. They now have an “overweight” rating on the stock.
- 7/4/2022 – Simon Property Group had its price target lowered by analysts at Piper Sandler to $130.00.
- 6/30/2022 – Simon Property Group was downgraded by analysts at Jefferies Financial Group Inc. from a “buy” rating to a “hold” rating. They now have a $100.00 price target on the stock, down previously from $160.00.
- 6/22/2022 – Simon Property Group had its price target lowered by analysts at Compass Point from $200.00 to $160.00. They now have a “buy” rating on the stock.
- 6/3/2022 – Simon Property Group had its price target lowered by analysts at Truist Financial Co. from $155.00 to $130.00.
Simon Property Group Stock Up 2.4 %
Simon Property Group stock opened at $98.64 on Tuesday. The company has a debt-to-equity ratio of 6.82, a current ratio of 1.10 and a quick ratio of 1.10. Simon Property Group, Inc. has a 1-year low of $93.06 and a 1-year high of $171.12. The company has a market cap of $32.41 billion, a PE ratio of 14.55, a price-to-earnings-growth ratio of 2.26 and a beta of 1.48. The stock’s 50 day moving average price is $104.00 and its 200 day moving average price is $125.80.
Simon Property Group (NYSE:SPG – Get Rating) last issued its quarterly earnings data on Monday, May 9th. The real estate investment trust reported $1.30 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.74 by ($1.44). The firm had revenue of $1.30 billion for the quarter, compared to analyst estimates of $1.24 billion. Simon Property Group had a return on equity of 56.67% and a net margin of 43.12%. The business’s revenue for the quarter was up 4.5% compared to the same quarter last year. During the same period in the prior year, the firm posted $2.48 earnings per share. On average, sell-side analysts predict that Simon Property Group, Inc. will post 11.73 EPS for the current fiscal year.
Simon Property Group Increases Dividend
The company also recently disclosed a quarterly dividend, which was paid on Thursday, June 30th. Investors of record on Thursday, June 9th were issued a dividend of $1.70 per share. The ex-dividend date of this dividend was Wednesday, June 8th. This is a boost from Simon Property Group’s previous quarterly dividend of $1.65. This represents a $6.80 annualized dividend and a yield of 6.89%. Simon Property Group’s payout ratio is currently 100.30%.
Hedge Funds Weigh In On Simon Property Group
Several hedge funds and other institutional investors have recently bought and sold shares of SPG. Cowa LLC acquired a new position in Simon Property Group during the first quarter worth $107,000. Norges Bank acquired a new position in shares of Simon Property Group in the fourth quarter worth $518,891,000. State Street Corp raised its holdings in shares of Simon Property Group by 10.1% in the first quarter. State Street Corp now owns 23,491,606 shares of the real estate investment trust’s stock worth $3,090,556,000 after acquiring an additional 2,158,735 shares during the last quarter. Vanguard Group Inc. raised its holdings in shares of Simon Property Group by 3.9% in the first quarter. Vanguard Group Inc. now owns 49,391,784 shares of the real estate investment trust’s stock worth $6,497,983,000 after acquiring an additional 1,845,801 shares during the last quarter. Finally, BlackRock Inc. raised its holdings in shares of Simon Property Group by 3.5% in the fourth quarter. BlackRock Inc. now owns 35,039,594 shares of the real estate investment trust’s stock worth $5,598,275,000 after acquiring an additional 1,181,872 shares during the last quarter. 91.62% of the stock is owned by institutional investors and hedge funds.
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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