BMO Capital Markets began coverage on shares of Simon Property Group, Inc. (NYSE:SPG) in a report published on Monday morning, MarketBeat Ratings reports. The firm issued an outperform rating and a $175.00 price objective on the real estate investment trust’s stock.

Several other equities research analysts have also recently weighed in on the stock. Stifel Nicolaus set a $170.00 target price on shares of Simon Property Group and gave the company a hold rating in a research note on Sunday, August 27th. Jefferies Group LLC reiterated a buy rating and issued a $200.00 target price (up previously from $198.00) on shares of Simon Property Group in a research note on Thursday, August 24th. Argus reduced their target price on shares of Simon Property Group from $210.00 to $200.00 and set a buy rating for the company in a research note on Tuesday, August 22nd. BidaskClub cut shares of Simon Property Group from a hold rating to a sell rating in a research note on Wednesday, August 16th. Finally, Barclays PLC increased their target price on shares of Simon Property Group from $188.00 to $190.00 and gave the company an overweight rating in a research note on Tuesday, August 8th. Two equities research analysts have rated the stock with a sell rating, six have issued a hold rating and twelve have given a buy rating to the company. The stock presently has an average rating of Buy and an average target price of $193.76.

Simon Property Group (SPG) opened at 160.43 on Monday. The company has a 50 day moving average price of $159.50 and a 200 day moving average price of $163.28. The firm has a market cap of $49.87 billion, a PE ratio of 28.59 and a beta of 0.58. Simon Property Group has a 1-year low of $150.15 and a 1-year high of $215.56.

Simon Property Group (NYSE:SPG) last released its quarterly earnings results on Tuesday, August 1st. The real estate investment trust reported $2.47 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $2.44 by $0.03. Simon Property Group had a net margin of 32.07% and a return on equity of 39.29%. The company had revenue of $1.36 billion during the quarter, compared to analysts’ expectations of $1.37 billion. During the same period in the prior year, the company earned $2.63 earnings per share. The business’s quarterly revenue was up 3.5% compared to the same quarter last year. On average, equities research analysts forecast that Simon Property Group will post $6.34 earnings per share for the current year.

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The firm also recently declared a quarterly dividend, which was paid on Thursday, August 31st. Investors of record on Thursday, August 17th were given a $1.80 dividend. This represents a $7.20 annualized dividend and a yield of 4.49%. The ex-dividend date was Tuesday, August 15th. This is a positive change from Simon Property Group’s previous quarterly dividend of $1.75. Simon Property Group’s dividend payout ratio is 127.89%.

A number of large investors have recently bought and sold shares of the stock. Perigon Wealth Management LLC raised its position in Simon Property Group by 162.9% in the second quarter. Perigon Wealth Management LLC now owns 4,771 shares of the real estate investment trust’s stock worth $772,000 after purchasing an additional 2,956 shares in the last quarter. Brookfield Asset Management Inc. increased its holdings in shares of Simon Property Group by 28.4% during the second quarter. Brookfield Asset Management Inc. now owns 3,124,419 shares of the real estate investment trust’s stock worth $505,406,000 after buying an additional 690,169 shares in the last quarter. Phocas Financial Corp. increased its holdings in shares of Simon Property Group by 2.5% during the second quarter. Phocas Financial Corp. now owns 13,323 shares of the real estate investment trust’s stock worth $2,155,000 after buying an additional 325 shares in the last quarter. Sentry Investment Management LLC increased its holdings in shares of Simon Property Group by 11.4% during the second quarter. Sentry Investment Management LLC now owns 25,712 shares of the real estate investment trust’s stock worth $4,159,000 after buying an additional 2,634 shares in the last quarter. Finally, WFG Advisors LP increased its holdings in shares of Simon Property Group by 1.3% during the second quarter. WFG Advisors LP now owns 1,841 shares of the real estate investment trust’s stock worth $298,000 after buying an additional 23 shares in the last quarter. 95.16% 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.

Analyst Recommendations for Simon Property Group (NYSE:SPG)

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