Simon Property Group (NYSE:SPG) Cut to “Hold” at StockNews.com

StockNews.com lowered shares of Simon Property Group (NYSE:SPG) from a buy rating to a hold rating in a research note published on Saturday morning.

Other analysts also recently issued research reports about the stock. Jefferies Financial Group upgraded shares of Simon Property Group from a “hold” rating to a “buy” rating and boosted their price objective for the stock from $179.00 to $198.00 in a research report on Thursday, January 2nd. Deutsche Bank Aktiengesellschaft started coverage on shares of Simon Property Group in a research report on Tuesday, December 17th. They issued a “hold” rating and a $195.00 price target for the company. Mizuho upped their price objective on shares of Simon Property Group from $158.00 to $182.00 and gave the company a “neutral” rating in a research note on Wednesday, December 4th. Finally, Piper Sandler upgraded Simon Property Group from a “neutral” rating to an “overweight” rating and lifted their target price for the stock from $175.00 to $205.00 in a research report on Wednesday, February 5th. Six equities research analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average target price of $180.33.

Simon Property Group Stock Down 3.4 %

Simon Property Group stock opened at $165.32 on Friday. The stock has a market cap of $53.94 billion, a PE ratio of 22.77, a P/E/G ratio of 10.10 and a beta of 1.78. The company has a debt-to-equity ratio of 7.19, a current ratio of 1.28 and a quick ratio of 2.00. The stock’s fifty day moving average is $177.92 and its two-hundred day moving average is $174.62. Simon Property Group has a 1-year low of $139.25 and a 1-year high of $190.14.

Simon Property Group (NYSE:SPG) last released its quarterly earnings data on Tuesday, February 4th. The real estate investment trust reported $3.68 EPS for the quarter, beating analysts’ consensus estimates of $1.98 by $1.70. Simon Property Group had a return on equity of 74.02% and a net margin of 41.49%. On average, sell-side analysts expect that Simon Property Group will post 12.54 EPS for the current fiscal year.

Simon Property Group Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, March 31st. Investors of record on Monday, March 10th will be given a $2.10 dividend. This represents a $8.40 annualized dividend and a yield of 5.08%. The ex-dividend date is Monday, March 10th. Simon Property Group’s dividend payout ratio (DPR) is presently 115.70%.

Insider Buying and Selling at Simon Property Group

In other news, Director Reuben S. Leibowitz acquired 465 shares of the company’s stock in a transaction on Monday, December 30th. The shares were bought at an average cost of $168.59 per share, with a total value of $78,394.35. Following the purchase, the director now owns 55,919 shares of the company’s stock, valued at $9,427,384.21. This represents a 0.84 % increase in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. 8.50% of the stock is owned by company insiders.

Institutional Trading of Simon Property Group

Hedge funds and other institutional investors have recently made changes to their positions in the company. Hopwood Financial Services Inc. acquired a new stake in Simon Property Group in the fourth quarter valued at about $28,000. WR Wealth Planners LLC raised its stake in shares of Simon Property Group by 328.2% during the 4th quarter. WR Wealth Planners LLC now owns 167 shares of the real estate investment trust’s stock worth $29,000 after buying an additional 128 shares in the last quarter. Capital Performance Advisors LLP acquired a new stake in shares of Simon Property Group in the 3rd quarter valued at approximately $30,000. New England Capital Financial Advisors LLC purchased a new stake in shares of Simon Property Group in the fourth quarter valued at approximately $30,000. Finally, Caisse Des Depots ET Consignations purchased a new stake in shares of Simon Property Group in the fourth quarter valued at approximately $31,000. Hedge funds and other institutional investors own 93.01% of the company’s stock.

About Simon Property Group

Simon Property Group, Inc (NYSE:SPG) is a self-administered and self-managed real estate investment trust (REIT). Simon Property Group, L.P., or the Operating Partnership, is our majority-owned partnership subsidiary that owns all of our real estate properties and other assets. In this package, the terms Simon, we, our, or the Company refer to Simon Property Group, Inc, the Operating Partnership, and its subsidiaries.