Simon Property Group, Inc. (NYSE:SPG) Receives $160.35 Consensus Price Target from Analysts

Simon Property Group, Inc. (NYSE:SPGGet Rating) has earned a consensus recommendation of “Buy” from the nineteen research firms that are presently covering the stock, Marketbeat reports. Eight investment analysts have rated the stock with a hold recommendation and ten have given a buy recommendation to the company. The average 12 month target price among brokerages that have issued ratings on the stock in the last year is $162.25.

SPG has been the topic of a number of research analyst reports. Morgan Stanley dropped their price target on Simon Property Group from $180.00 to $160.00 and set an “overweight” rating on the stock in a research note on Monday, March 7th. Deutsche Bank Aktiengesellschaft dropped their price target on Simon Property Group from $190.00 to $173.00 and set a “buy” rating on the stock in a research note on Thursday, March 31st. StockNews.com initiated coverage on Simon Property Group in a research note on Thursday, March 31st. They set a “hold” rating on the stock. Mizuho dropped their target price on Simon Property Group from $162.00 to $158.00 and set a “neutral” rating on the stock in a research report on Tuesday, February 8th. Finally, Wells Fargo & Company dropped their target price on Simon Property Group from $152.00 to $140.00 and set an “equal weight” rating on the stock in a research report on Thursday, April 7th.

Shares of SPG stock traded up $0.12 during trading hours on Friday, reaching $128.00. 5,569 shares of the company’s stock were exchanged, compared to its average volume of 2,165,097. Simon Property Group has a 1 year low of $112.61 and a 1 year high of $171.12. The stock has a market cap of $42.06 billion, a PE ratio of 18.70, a PEG ratio of 2.46 and a beta of 1.49. The company has a current ratio of 1.01, a quick ratio of 1.01 and a debt-to-equity ratio of 6.64. The stock’s fifty day moving average price is $133.97 and its two-hundred day moving average price is $146.15.

Simon Property Group (NYSE:SPGGet Rating) last issued its quarterly earnings results on Sunday, February 6th. The real estate investment trust reported $1.53 earnings per share for the quarter, topping the Zacks’ consensus estimate of $1.44 by $0.09. Simon Property Group had a return on equity of 58.02% and a net margin of 43.97%. The business had revenue of $1.33 billion for the quarter, compared to analyst estimates of $1.26 billion. During the same quarter in the previous year, the firm earned $2.17 earnings per share. The company’s revenue was up 17.2% on a year-over-year basis. On average, equities analysts expect that Simon Property Group will post 11.73 EPS for the current fiscal year.

The firm also recently announced a quarterly dividend, which was paid on Thursday, March 31st. Stockholders of record on Thursday, March 10th were paid a dividend of $1.65 per share. This represents a $6.60 annualized dividend and a dividend yield of 5.16%. Simon Property Group’s payout ratio is 96.49%.

Several hedge funds have recently made changes to their positions in the company. Affinity Investment Advisors LLC increased its position in shares of Simon Property Group by 1.5% during the third quarter. Affinity Investment Advisors LLC now owns 4,353 shares of the real estate investment trust’s stock worth $566,000 after purchasing an additional 63 shares in the last quarter. Eagle Asset Management Inc. increased its position in shares of Simon Property Group by 0.5% during the third quarter. Eagle Asset Management Inc. now owns 13,000 shares of the real estate investment trust’s stock worth $1,689,000 after purchasing an additional 64 shares in the last quarter. CX Institutional increased its position in shares of Simon Property Group by 10.5% during the third quarter. CX Institutional now owns 682 shares of the real estate investment trust’s stock worth $89,000 after purchasing an additional 65 shares in the last quarter. Brown Advisory Inc. increased its position in shares of Simon Property Group by 3.2% during the fourth quarter. Brown Advisory Inc. now owns 2,226 shares of the real estate investment trust’s stock worth $356,000 after purchasing an additional 69 shares in the last quarter. Finally, Wetherby Asset Management Inc. grew its holdings in Simon Property Group by 1.2% in the 4th quarter. Wetherby Asset Management Inc. now owns 6,681 shares of the real estate investment trust’s stock valued at $1,068,000 after buying an additional 76 shares in the last quarter. 86.62% of the stock is owned by institutional investors and hedge funds.

Simon Property Group Company Profile (Get Rating)

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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Analyst Recommendations for Simon Property Group (NYSE:SPG)

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