Simon Property Group (NYSE:SPG) Rating Lowered to Hold at StockNews.com

StockNews.com downgraded shares of Simon Property Group (NYSE:SPG) from a buy rating to a hold rating in a research report sent to investors on Saturday morning.

Several other research analysts have also recently weighed in on the company. Piper Sandler raised Simon Property Group from a “neutral” rating to an “overweight” rating and boosted their price objective for the stock from $175.00 to $205.00 in a research report on Wednesday, February 5th. Deutsche Bank Aktiengesellschaft assumed coverage on shares of Simon Property Group in a report on Tuesday, December 17th. They issued a “hold” rating and a $195.00 price target on the stock. Scotiabank set a $186.00 price objective on shares of Simon Property Group in a report on Friday, February 28th. Mizuho boosted their target price 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, Jefferies Financial Group raised shares of Simon Property Group from a “hold” rating to a “buy” rating and increased their target price for the company from $179.00 to $198.00 in a research report on Thursday, January 2nd. Six equities research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average price target of $180.33.

Simon Property Group Stock Up 1.2 %

SPG opened at $166.27 on Friday. Simon Property Group has a fifty-two week low of $139.25 and a fifty-two week high of $190.14. 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 company’s 50-day moving average is $175.26 and its 200 day moving average is $174.54. The firm has a market capitalization of $54.25 billion, a P/E ratio of 22.90, a PEG ratio of 10.10 and a beta of 1.78.

Simon Property Group (NYSE:SPG) last posted its earnings results on Tuesday, February 4th. The real estate investment trust reported $3.68 EPS for the quarter, topping the consensus estimate of $1.98 by $1.70. Simon Property Group had a net margin of 41.49% and a return on equity of 74.02%. Research analysts expect that Simon Property Group will post 12.54 earnings per share for the current fiscal year.

Simon Property Group Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Monday, March 31st. Stockholders of record on Monday, March 10th were given a $2.10 dividend. This represents a $8.40 annualized dividend and a dividend yield of 5.05%. The ex-dividend date was Monday, March 10th. Simon Property Group’s dividend payout ratio (DPR) is currently 115.70%.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently bought and sold shares of the business. Hopwood Financial Services Inc. purchased a new stake in shares of Simon Property Group during the fourth quarter worth $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 valued at $29,000 after purchasing an additional 128 shares during the period. New England Capital Financial Advisors LLC purchased a new stake in Simon Property Group during the 4th quarter worth about $30,000. Caisse Des Depots ET Consignations bought a new position in Simon Property Group in the 4th quarter worth about $31,000. Finally, TCTC Holdings LLC purchased a new position in Simon Property Group during the 4th quarter valued at about $34,000. 93.01% of the stock is owned by institutional investors.

Simon Property Group Company Profile

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.