Royal Bank Of Canada restated their hold rating on shares of Simon Property Group, Inc. (NYSE:SPG) in a research note released on Thursday, November 2nd. The firm currently has a $176.00 price target on the real estate investment trust’s stock.
SPG has been the topic of a number of other reports. Argus decreased their price objective on Simon Property Group from $200.00 to $195.00 and set a buy rating on the stock in a report on Tuesday, October 31st. Zacks Investment Research raised Simon Property Group from a hold rating to a buy rating and set a $182.00 price target on the stock in a research note on Wednesday, October 11th. Mizuho set a $183.00 price target on Simon Property Group and gave the stock a buy rating in a research note on Sunday, October 29th. Boenning Scattergood set a $240.00 price target on Simon Property Group and gave the stock a buy rating in a research note on Wednesday, August 2nd. Finally, Stifel Nicolaus set a $170.00 price target on Simon Property Group and gave the stock a hold rating in a research note on Sunday, August 27th. One analyst has rated the stock with a sell rating, seven have given a hold rating and twelve have given a buy rating to the stock. Simon Property Group presently has a consensus rating of Buy and an average price target of $191.45.
Shares of Simon Property Group (SPG) traded up $0.20 during midday trading on Thursday, reaching $160.51. The company’s stock had a trading volume of 2,085,800 shares, compared to its average volume of 1,827,928. Simon Property Group has a fifty-two week low of $150.15 and a fifty-two week high of $189.25. The company has a current ratio of 0.93, a quick ratio of 0.93 and a debt-to-equity ratio of 5.57. The company has a market cap of $102,561.53, a P/E ratio of 14.56, a P/E/G ratio of 2.15 and a beta of 0.60.
Simon Property Group (NYSE:SPG) last released its quarterly earnings results on Friday, October 27th. The real estate investment trust reported $2.89 earnings per share for the quarter, beating the consensus estimate 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 firm had revenue of $1.40 billion for the quarter, compared to analysts’ expectations of $1.39 billion. During the same quarter last year, the firm posted $2.70 EPS. The company’s revenue was up 3.4% compared to the same quarter last year. equities research analysts predict that Simon Property Group will post 11.21 EPS for the current fiscal year.
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The company also recently disclosed a quarterly dividend, which will be paid on Thursday, November 30th. Investors of record on Thursday, November 16th will be given a dividend of $1.85 per share. This represents a $7.40 dividend on an annualized basis and a yield of 4.61%. The ex-dividend date is Wednesday, November 15th. This is a boost from Simon Property Group’s previous quarterly dividend of $1.80. Simon Property Group’s dividend payout ratio is 126.98%.
Large investors have recently added to or reduced their stakes in the business. Norway Savings Bank boosted its stake in shares of Simon Property Group by 19.5% in the second quarter. Norway Savings Bank now owns 765 shares of the real estate investment trust’s stock worth $124,000 after acquiring an additional 125 shares during the period. Bronfman E.L. Rothschild L.P. boosted its stake in shares of Simon Property Group by 27.3% in the second quarter. Bronfman E.L. Rothschild L.P. now owns 787 shares of the real estate investment trust’s stock worth $127,000 after acquiring an additional 169 shares during the period. Alpha Windward LLC boosted its stake in shares of Simon Property Group by 12.2% in the second quarter. Alpha Windward LLC now owns 856 shares of the real estate investment trust’s stock worth $138,000 after acquiring an additional 93 shares during the period. Highstreet Asset Management Inc. bought a new position in shares of Simon Property Group in the second quarter worth about $157,000. Finally, Nelson Van Denburg & Campbell Wealth Management Group LLC boosted its stake in shares of Simon Property Group by 0.7% in the second quarter. Nelson Van Denburg & Campbell Wealth Management Group LLC now owns 973 shares of the real estate investment trust’s stock worth $157,000 after acquiring an additional 7 shares during the period. 95.24% of the stock is owned by institutional investors and hedge funds.
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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