Simon Property Group Inc (SPG) Upgraded by BidaskClub to “Hold”
BidaskClub upgraded shares of Simon Property Group Inc (NYSE:SPG) from a sell rating to a hold rating in a research note issued to investors on Monday, July 31st.
Several other brokerages have also recently commented on SPG. Jefferies Group LLC reiterated a buy rating and set a $210.00 target price on shares of Simon Property Group in a research report on Monday, April 17th. Barclays PLC lowered their price objective on shares of Simon Property Group from $206.00 to $200.00 and set an overweight rating for the company in a research report on Wednesday, April 19th. Zacks Investment Research upgraded shares of Simon Property Group from a sell rating to a hold rating in a research report on Tuesday, April 4th. BTIG Research restated a buy rating and issued a $231.00 price objective on shares of Simon Property Group in a research report on Monday, April 3rd. Finally, Vetr cut shares of Simon Property Group from a strong-buy rating to a buy rating and set a $186.15 price objective for the company. in a research report on Tuesday, May 2nd. One investment analyst has rated the stock with a sell rating, seven have given a hold rating and eleven have issued a buy rating to the stock. Simon Property Group presently has a consensus rating of Buy and an average target price of $195.01.
Shares of Simon Property Group (SPG) traded down 2.02% during trading on Monday, hitting $157.89. The stock had a trading volume of 1,839,334 shares. The stock’s 50 day moving average is $160.84 and its 200 day moving average is $167.22. The stock has a market capitalization of $49.08 billion, a price-to-earnings ratio of 28.14 and a beta of 0.58. 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 issued its earnings results on Tuesday, August 1st. The real estate investment trust reported $2.47 EPS for the quarter, beating the consensus estimate of $2.44 by $0.03. The company had revenue of $1.36 billion during the quarter, compared to analysts’ expectations of $1.37 billion. Simon Property Group had a net margin of 32.42% and a return on equity of 39.55%. The business’s revenue for the quarter was up 3.5% compared to the same quarter last year. During the same quarter in the previous year, the company posted $2.63 EPS. On average, equities research analysts expect that Simon Property Group will post $6.43 earnings per share for the current fiscal year.
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The company also recently announced a quarterly dividend, which will be paid on Thursday, August 31st. Investors of record on Thursday, August 17th will be paid a $1.80 dividend. This is an increase from Simon Property Group’s previous quarterly dividend of $1.75. This represents a $7.20 annualized dividend and a yield of 4.56%. The ex-dividend date is Tuesday, August 15th. Simon Property Group’s dividend payout ratio (DPR) is 124.33%.
A number of large investors have recently modified their holdings of SPG. BlackRock Inc. increased its stake in shares of Simon Property Group by 1,886.1% in the first quarter. BlackRock Inc. now owns 29,769,454 shares of the real estate investment trust’s stock valued at $5,121,238,000 after buying an additional 28,270,599 shares during the period. Vanguard Group Inc. increased its stake in shares of Simon Property Group by 2.1% in the first quarter. Vanguard Group Inc. now owns 45,481,675 shares of the real estate investment trust’s stock valued at $7,824,213,000 after buying an additional 923,592 shares during the period. PGGM Investments increased its stake in shares of Simon Property Group by 31.8% in the first quarter. PGGM Investments now owns 3,473,850 shares of the real estate investment trust’s stock valued at $597,606,000 after buying an additional 839,043 shares during the period. Eaton Vance Management boosted its position in Simon Property Group by 110.5% in the second quarter. Eaton Vance Management now owns 1,545,545 shares of the real estate investment trust’s stock valued at $250,007,000 after buying an additional 811,457 shares in the last quarter. Finally, Uniplan Investment Counsel Inc. boosted its position in Simon Property Group by 118.1% in the second quarter. Uniplan Investment Counsel Inc. now owns 1,318,807 shares of the real estate investment trust’s stock valued at $88,381,000 after buying an additional 714,159 shares in the last quarter. Institutional investors and hedge funds own 95.64% of the company’s stock.
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.
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