Shares of Simon Property Group Inc. (NYSE:SPG) have been given an average recommendation of “Buy” by the seventeen brokerages that are covering the stock. Five investment analysts have rated the stock with a hold rating and eleven have given a buy rating to the company. The average 1-year price objective among brokers that have issued a report on the stock in the last year is $234.87.

A number of equities analysts have issued reports on SPG shares. RBC Capital Markets cut Simon Property Group from an “outperform” rating to a “sector perform” rating and upped their target price for the stock from $220.00 to $230.00 in a report on Tuesday, August 2nd. They noted that the move was a valuation call. Zacks Investment Research lowered Simon Property Group from a “buy” rating to a “hold” rating in a research report on Wednesday, August 3rd. Royal Bank Of Canada reduced their price target on Simon Property Group from $230.00 to $216.00 and set a “sector perform” rating on the stock in a research report on Tuesday, November 1st. Jefferies Group reiterated a “buy” rating and issued a $255.00 price target on shares of Simon Property Group in a research report on Sunday, October 23rd. Finally, Deutsche Bank AG upped their price target on Simon Property Group from $232.00 to $233.00 and gave the company a “buy” rating in a research report on Wednesday, August 17th.

Shares of Simon Property Group (NYSE:SPG) opened at 182.29 on Tuesday. Simon Property Group has a 52-week low of $174.91 and a 52-week high of $229.10. The stock’s 50 day moving average price is $195.36 and its 200-day moving average price is $206.96. The firm has a market cap of $57.28 billion, a price-to-earnings ratio of 31.05 and a beta of 0.65.

Simon Property Group (NYSE:SPG) last issued its earnings results on Wednesday, October 26th. The real estate investment trust reported $2.70 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.68 by $0.02. Simon Property Group had a return on equity of 36.22% and a net margin of 35.37%. The business earned $1.36 billion during the quarter, compared to analysts’ expectations of $1.35 billion. During the same quarter in the prior year, the firm earned $2.54 EPS. The business’s revenue for the quarter was up 2.8% compared to the same quarter last year. On average, analysts forecast that Simon Property Group will post $10.86 EPS for the current year.

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, November 30th. Stockholders of record on Wednesday, November 16th will be paid a $1.65 dividend. This represents a $6.60 annualized dividend and a dividend yield of 3.62%. The ex-dividend date is Monday, November 14th. Simon Property Group’s dividend payout ratio (DPR) is presently 112.25%.

In other news, SVP Steven K. Broadwater sold 945 shares of the stock in a transaction that occurred on Thursday, September 1st. The stock was sold at an average price of $215.41, for a total value of $203,562.45. Following the completion of the sale, the senior vice president now directly owns 2,965 shares of the company’s stock, valued at $638,690.65. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, CFO Andrew Juster sold 7,000 shares of the stock in a transaction that occurred on Monday, August 29th. The stock was sold at an average price of $215.68, for a total value of $1,509,760.00. The disclosure for this sale can be found here. 8.50% of the stock is owned by insiders.

Several hedge funds have recently modified their holdings of the company. Chilton Capital Management LLC increased its stake in shares of Simon Property Group by 11.2% in the first quarter. Chilton Capital Management LLC now owns 199,521 shares of the real estate investment trust’s stock valued at $41,439,000 after buying an additional 20,152 shares during the period. Retirement Systems of Alabama increased its stake in shares of Simon Property Group by 0.3% in the second quarter. Retirement Systems of Alabama now owns 157,740 shares of the real estate investment trust’s stock valued at $34,214,000 after buying an additional 515 shares during the period. Huntington National Bank increased its stake in shares of Simon Property Group by 29.4% in the second quarter. Huntington National Bank now owns 65,620 shares of the real estate investment trust’s stock valued at $14,233,000 after buying an additional 14,896 shares during the period. Standard Life Investments LTD increased its stake in shares of Simon Property Group by 9.3% in the second quarter. Standard Life Investments LTD now owns 202,513 shares of the real estate investment trust’s stock valued at $43,927,000 after buying an additional 17,297 shares during the period. Finally, UBS Asset Management Americas Inc. increased its stake in shares of Simon Property Group by 6.8% in the second quarter. UBS Asset Management Americas Inc. now owns 1,651,995 shares of the real estate investment trust’s stock valued at $358,318,000 after buying an additional 105,327 shares during the period. 98.79% of the stock is owned by hedge funds and other institutional investors.

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.

5 Day Chart for NYSE:SPG

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