Simon Property Group, Inc. (NYSE:SPG – Get Free Report) has been given an average recommendation of “Moderate Buy” by the eight research firms that are covering the stock, Marketbeat reports. Four investment analysts have rated the stock with a hold rating and four have given a buy rating to the company. The average twelve-month price objective among brokerages that have issued ratings on the stock in the last year is $140.22.
Several equities analysts recently weighed in on the stock. Evercore ISI raised their target price on shares of Simon Property Group from $142.00 to $150.00 and gave the company an “in-line” rating in a research note on Wednesday, February 28th. StockNews.com raised Simon Property Group from a “hold” rating to a “buy” rating in a report on Thursday, April 18th. Truist Financial increased their price target on Simon Property Group from $139.00 to $147.00 and gave the company a “hold” rating in a research note on Friday, March 22nd. Finally, Morgan Stanley lifted their price objective on Simon Property Group from $143.00 to $145.00 and gave the stock an “equal weight” rating in a research note on Monday, February 26th.
View Our Latest Analysis on Simon Property Group
Institutional Trading of Simon Property Group
Simon Property Group Stock Performance
NYSE:SPG opened at $144.49 on Friday. The stock has a 50-day moving average price of $148.11 and a 200 day moving average price of $138.68. The stock has a market capitalization of $47.09 billion, a P/E ratio of 20.70, a P/E/G ratio of 7.50 and a beta of 1.68. Simon Property Group has a 12-month low of $100.17 and a 12-month high of $157.82. The company has a current ratio of 1.77, a quick ratio of 1.77 and a debt-to-equity ratio of 7.54.
Simon Property Group (NYSE:SPG – Get Free Report) last announced its quarterly earnings data on Monday, February 5th. The real estate investment trust reported $2.29 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $3.34 by ($1.05). Simon Property Group had a net margin of 42.30% and a return on equity of 70.97%. The company had revenue of $1.53 billion for the quarter, compared to analysts’ expectations of $1.38 billion. During the same period last year, the business earned $3.15 earnings per share. The company’s quarterly revenue was up 9.1% compared to the same quarter last year. Equities research analysts forecast that Simon Property Group will post 12.06 EPS for the current fiscal year.
Simon Property Group declared that its board has authorized a stock buyback plan on Thursday, February 8th that authorizes the company to buyback $2.00 billion in outstanding shares. This buyback authorization authorizes the real estate investment trust to reacquire up to 4.2% of its shares through open market purchases. Shares buyback plans are often an indication that the company’s board believes its stock is undervalued.
Simon Property Group Increases Dividend
The business also recently disclosed a quarterly dividend, which will be paid on Friday, June 28th. Stockholders of record on Friday, June 7th will be paid a $2.00 dividend. This represents a $8.00 annualized dividend and a dividend yield of 5.54%. This is a positive change from Simon Property Group’s previous quarterly dividend of $1.95. Simon Property Group’s dividend payout ratio (DPR) is presently 111.75%.
Simon Property Group Company Profile
Simon is a real estate investment trust engaged 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.
See Also
- Five stocks we like better than Simon Property Group
- The 3 Best Blue-Chip Stocks to Buy Now
- 3 CEO-Led Turnaround Stocks You Can Still Buy
- What is the Nikkei 225 index?
- 3 Value Stocks You Can Buy Before They Become Big
- Quiet Period Expirations Explained
- Chinese Stocks Stage Impressive Rebound
Receive News & Ratings for Simon Property Group Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Simon Property Group and related companies with MarketBeat.com's FREE daily email newsletter.