Weekly Investment Analysts’ Ratings Updates for Simon Property Group (SPG)

Several brokerages have updated their recommendations and price targets on shares of Simon Property Group (NYSE: SPG) in the last few weeks:

• 9/12/2024 – Simon Property Group had its “hold” rating reaffirmed by analysts at Stifel Nicolaus. They now have a $159.00 price target on the stock, up previously from $157.50.
• 9/3/2024 – Simon Property Group had its “neutral” rating reaffirmed by analysts at Piper Sandler. They now have a $175.00 price target on the stock, down previously from $190.00.
• 9/2/2024 – Simon Property Group was downgraded by analysts at Piper Sandler from a “strong-buy” rating to a “hold” rating.
• 8/28/2024 – Simon Property Group had its price target raised by analysts at Evercore ISI from $157.00 to $160.00. They now have an “in-line” rating on the stock.
• 8/28/2024 – Simon Property Group had its price target raised by analysts at Truist Financial Co. from $147.00 to $158.00. They now have a “hold” rating on the stock.
• 8/26/2024 – Simon Property Group had its price target raised by analysts at Scotiabank from $152.00 to $169.00. They now have a “sector perform” rating on the stock.
• 8/19/2024 – Simon Property Group had its price target raised by analysts at Mizuho from $155.00 to $158.00. They now have a “neutral” rating on the stock.
• 8/16/2024 – Simon Property Group was upgraded by analysts at StockNews.com from a “hold” rating to a “buy” rating.
• 8/8/2024 – Simon Property Group was downgraded by analysts at StockNews.com from a “buy” rating to a “hold” rating.
• 8/6/2024 – Simon Property Group had its price target raised by analysts at Evercore ISI from $150.00 to $155.00. They now have an “in-line” rating on the stock.
• 8/6/2024 – Simon Property Group had its price target raised by analysts at Stifel Nicolaus from $152.00 to $157.50. They now have a “buy” rating on the stock.

Simon Property Group Price Performance

Shares of SPG stock traded up $0.28 on Friday, hitting $164.02. 2,440,903 shares of the company’s stock were exchanged, compared to its average volume of 1,454,225. The company has a debt-to-equity ratio of 7.53, a current ratio of 2.04 and a quick ratio of 2.04. Simon Property Group, Inc. has a 12 month low of $102.11 and a 12 month high of $169.18. The stock has a market cap of $53.48 billion, a P/E ratio of 20.89, a price-to-earnings-growth ratio of 8.95 and a beta of 1.74. The company has a 50 day moving average of $157.12 and a 200 day moving average of $151.49.

Simon Property Group (NYSE:SPG) last announced its quarterly earnings data on Monday, August 5th. The real estate investment trust reported $1.51 earnings per share for the quarter, missing the consensus estimate of $2.93 by ($1.42). Simon Property Group had a return on equity of 78.14% and a net margin of 45.90%. The business had revenue of $1.32 billion for the quarter, compared to the consensus estimate of $1.30 billion. During the same quarter in the prior year, the company earned $2.88 earnings per share. Simon Property Group’s quarterly revenue was up 4.8% compared to the same quarter last year. On average, equities research analysts predict that Simon Property Group, Inc. will post 12.85 EPS for the current year.

Simon Property Group Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, September 30th. Shareholders of record on Monday, September 9th will be issued a $2.05 dividend. This represents a $8.20 dividend on an annualized basis and a yield of 5.00%. The ex-dividend date is Monday, September 9th. This is a boost from Simon Property Group’s previous quarterly dividend of $2.00. Simon Property Group’s dividend payout ratio is presently 104.46%.

Insiders Place Their Bets

In other news, Director Reuben S. Leibowitz bought 486 shares of the stock in a transaction on Friday, June 28th. The stock was acquired at an average price of $150.17 per share, with a total value of $72,982.62. Following the acquisition, the director now directly owns 55,001 shares in the company, valued at $8,259,500.17. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Insiders own 8.50% of the company’s stock.

Institutional Investors Weigh In On Simon Property Group

Several institutional investors and hedge funds have recently made changes to their positions in SPG. Principal Securities Inc. acquired a new stake in shares of Simon Property Group in the fourth quarter valued at about $352,000. Avantax Advisory Services Inc. grew its stake in Simon Property Group by 1.6% during the fourth quarter. Avantax Advisory Services Inc. now owns 5,459 shares of the real estate investment trust’s stock worth $779,000 after purchasing an additional 86 shares during the period. Janney Montgomery Scott LLC grew its stake in Simon Property Group by 5.3% during the fourth quarter. Janney Montgomery Scott LLC now owns 57,409 shares of the real estate investment trust’s stock worth $8,189,000 after purchasing an additional 2,895 shares during the period. Sound View Wealth Advisors Group LLC grew its stake in Simon Property Group by 1.5% during the fourth quarter. Sound View Wealth Advisors Group LLC now owns 5,563 shares of the real estate investment trust’s stock worth $794,000 after purchasing an additional 83 shares during the period. Finally, Meridian Wealth Management LLC acquired a new stake in Simon Property Group during the fourth quarter worth approximately $235,000. Institutional investors and hedge funds own 93.01% of the company’s stock.

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.