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.

NYSE SPG traded up $1.55 during trading on Thursday, hitting $164.05. The company’s stock had a trading volume of 1,276,902 shares, compared to its average volume of 1,775,604. The company has a quick ratio of 0.89, a current ratio of 0.89 and a debt-to-equity ratio of 5.93. The company has a market cap of $52.89 billion, a P/E ratio of 14.63, a P/E/G ratio of 2.18 and a beta of 0.58. Simon Property Group has a 52 week low of $145.78 and a 52 week high of $173.02.

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.

Analyst Recommendations for Simon Property Group (NYSE:SPG)

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