Simon Property Group Inc (SPG) Receives Consensus Rating of “Buy” from Analysts
Simon Property Group Inc (NYSE:SPG) has received a consensus recommendation of “Buy” from the sixteen ratings firms that are covering the firm, Marketbeat reports. One research analyst has rated the stock with a sell recommendation, six have given a hold recommendation and nine have given a buy recommendation to the company. The average 1 year price target among analysts that have covered the stock in the last year is $186.83.
Several brokerages have commented on SPG. ValuEngine raised Simon Property Group from a “sell” rating to a “hold” rating in a research report on Tuesday, June 5th. Wells Fargo & Co reaffirmed an “outperform” rating and issued a $175.00 price target (down from $185.00) on shares of Simon Property Group in a research report on Tuesday, May 1st. Boenning Scattergood reaffirmed a “buy” rating and issued a $240.00 price target on shares of Simon Property Group in a research report on Monday, April 30th. JPMorgan Chase & Co. downgraded Simon Property Group from an “overweight” rating to a “neutral” rating in a research report on Tuesday, March 27th. Finally, Zacks Investment Research upgraded Simon Property Group from a “sell” rating to a “hold” rating in a research report on Tuesday, March 20th.
Institutional investors and hedge funds have recently added to or reduced their stakes in the company. RFG Advisory Group LLC bought a new stake in Simon Property Group in the fourth quarter valued at $200,000. Advisory Services Network LLC grew its position in Simon Property Group by 822.4% in the fourth quarter. Advisory Services Network LLC now owns 1,236 shares of the real estate investment trust’s stock valued at $212,000 after acquiring an additional 1,102 shares during the period. Greenleaf Trust bought a new stake in Simon Property Group in the first quarter valued at $212,000. Bronfman E.L. Rothschild L.P. grew its position in Simon Property Group by 83.9% in the fourth quarter. Bronfman E.L. Rothschild L.P. now owns 1,278 shares of the real estate investment trust’s stock valued at $219,000 after acquiring an additional 583 shares during the period. Finally, ETRADE Capital Management LLC bought a new stake in Simon Property Group in the fourth quarter valued at $224,000. Institutional investors and hedge funds own 92.29% of the company’s stock.
Simon Property Group (NYSE:SPG) last issued its quarterly earnings results on Friday, April 27th. The real estate investment trust reported $2.87 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $2.83 by $0.04. The company had revenue of $1.40 billion for the quarter, compared to the consensus estimate of $1.38 billion. Simon Property Group had a return on equity of 50.24% and a net margin of 37.36%. The company’s revenue for the quarter was up 4.0% on a year-over-year basis. During the same period in the previous year, the business posted $1.53 EPS. sell-side analysts expect that Simon Property Group will post 12.03 earnings per share for the current fiscal year.
The company also recently disclosed a quarterly dividend, which was paid on Thursday, May 31st. Stockholders of record on Thursday, May 17th were given a dividend of $1.94 per share. This represents a $7.76 dividend on an annualized basis and a dividend yield of 4.73%. The ex-dividend date of this dividend was Wednesday, May 16th. Simon Property Group’s dividend payout ratio is presently 69.58%.
Simon Property Group Company Profile
Simon is a global leader 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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