Simon Property Group, Inc. (SPG) Given a $170.00 Price Target at Stifel Nicolaus
Stifel Nicolaus set a $170.00 target price on Simon Property Group, Inc. (NYSE:SPG) in a research report report published on Sunday morning. The brokerage currently has a hold rating on the real estate investment trust’s stock.
A number of other research firms also recently issued reports on SPG. Vetr downgraded Simon Property Group from a strong-buy rating to a buy rating and set a $186.15 price objective for the company. in a report on Tuesday, May 2nd. Boenning Scattergood set a $240.00 price target on Simon Property Group and gave the company a buy rating in a report on Wednesday, August 2nd. Barclays PLC raised their price target on Simon Property Group from $188.00 to $190.00 and gave the company an overweight rating in a report on Tuesday, August 8th. Argus reduced their price target on Simon Property Group from $225.00 to $210.00 and set a buy rating for the company in a report on Thursday, June 29th. Finally, BidaskClub upgraded Simon Property Group from a strong sell rating to a sell rating in a report on Sunday, July 16th. Two equities research analysts have rated the stock with a sell rating, six have assigned a hold rating and eleven have issued a buy rating to the company’s stock. Simon Property Group has a consensus rating of Hold and an average target price of $195.01.
Shares of Simon Property Group (NYSE:SPG) traded up 0.24% during midday trading on Friday, reaching $159.42. 41,555 shares of the company’s stock traded hands. The stock has a market cap of $49.55 billion, a P/E ratio of 28.41 and a beta of 0.58. The stock has a 50-day moving average price of $159.66 and a 200-day moving average price of $165.41. Simon Property Group has a 52-week low of $150.15 and a 52-week high of $219.41.
Simon Property Group (NYSE:SPG) last posted its quarterly earnings data on Tuesday, August 1st. The real estate investment trust reported $2.47 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.44 by $0.03. The business had revenue of $1.36 billion during the quarter, compared to the consensus estimate of $1.37 billion. Simon Property Group had a return on equity of 39.29% and a net margin of 32.07%. The firm’s quarterly revenue was up 3.5% compared to the same quarter last year. During the same quarter in the prior year, the company earned $2.63 earnings per share. Analysts forecast that Simon Property Group will post $6.33 earnings per share for the current year.
The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, August 31st. Investors of record on Thursday, August 17th will be given a dividend of $1.80 per share. The ex-dividend date of this dividend is Tuesday, August 15th. This is a boost from Simon Property Group’s previous quarterly dividend of $1.75. This represents a $7.20 annualized dividend and a dividend yield of 4.53%. Simon Property Group’s dividend payout ratio (DPR) is 127.89%.
Several large investors have recently added to or reduced their stakes in SPG. Phocas Financial Corp. boosted its stake in Simon Property Group by 2.5% in the second quarter. Phocas Financial Corp. now owns 13,323 shares of the real estate investment trust’s stock valued at $2,155,000 after buying an additional 325 shares during the period. Sentry Investment Management LLC boosted its stake in Simon Property Group by 11.4% in the second quarter. Sentry Investment Management LLC now owns 25,712 shares of the real estate investment trust’s stock valued at $4,159,000 after buying an additional 2,634 shares during the period. WFG Advisors LP boosted its stake in Simon Property Group by 1.3% in the second quarter. WFG Advisors LP now owns 1,841 shares of the real estate investment trust’s stock valued at $298,000 after buying an additional 23 shares during the period. Toronto Dominion Bank boosted its stake in Simon Property Group by 21.3% in the second quarter. Toronto Dominion Bank now owns 105,853 shares of the real estate investment trust’s stock valued at $17,120,000 after buying an additional 18,609 shares during the period. Finally, Cetera Investment Advisers acquired a new stake in Simon Property Group during the second quarter valued at approximately $353,000. 95.16% of the stock is currently owned by institutional investors.
Simon Property Group Company Profile
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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