Simon Property Group, Inc. (NYSE:SPG) had its target price trimmed by Argus from $200.00 to $195.00 in a research note published on Tuesday. The brokerage currently has a buy rating on the real estate investment trust’s stock.

Other analysts have also recently issued research reports about the company. SunTrust Banks, Inc. set a $170.00 price target on Simon Property Group and gave the company a hold rating in a report on Sunday. Stifel Nicolaus set a $170.00 price target on Simon Property Group and gave the company a hold rating in a report on Sunday, August 27th. Jefferies Group LLC restated a buy rating and issued a $200.00 price target (up previously from $198.00) on shares of Simon Property Group in a report on Thursday, August 24th. Zacks Investment Research upgraded Simon Property Group from a hold rating to a buy rating and set a $182.00 price target for the company in a report on Wednesday, October 11th. Finally, BMO Capital Markets set a $175.00 price target on Simon Property Group and gave the company a buy rating in a report on Friday, October 27th. One equities research analyst has rated the stock with a sell rating, seven have issued a hold rating and twelve have assigned a buy rating to the company’s stock. The stock presently has an average rating of Buy and an average target price of $191.79.

Shares of Simon Property Group (SPG) traded up 0.74% during midday trading on Tuesday, hitting $156.48. 845,386 shares of the company were exchanged. The company has a 50-day moving average price of $161.84 and a 200-day moving average price of $160.75. Simon Property Group has a 52-week low of $150.15 and a 52-week high of $189.25. The stock has a market capitalization of $48.64 billion, a price-to-earnings ratio of 27.89 and a beta of 0.60.

Simon Property Group (NYSE:SPG) last announced its earnings results on Friday, October 27th. The real estate investment trust reported $2.89 earnings per share for the quarter, beating the consensus estimate of $2.88 by $0.01. Simon Property Group had a net margin of 31.96% and a return on equity of 41.85%. The firm had revenue of $1.40 billion during the quarter, compared to the consensus estimate of $1.39 billion. During the same quarter in the previous year, the company posted $2.70 EPS. The firm’s revenue for the quarter was up 3.4% on a year-over-year basis. On average, analysts forecast that Simon Property Group will post $6.35 EPS for the current year.

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The company also recently announced a quarterly dividend, which will be paid on Thursday, November 30th. Stockholders of record on Thursday, November 16th will be issued a dividend of $1.85 per share. The ex-dividend date of this dividend is Wednesday, November 15th. This represents a $7.40 dividend on an annualized basis and a dividend yield of 4.76%. This is a boost from Simon Property Group’s previous quarterly dividend of $1.80. Simon Property Group’s payout ratio is presently 126.98%.

Institutional investors have recently added to or reduced their stakes in the stock. Kissinger Financial Services LLC lifted its position in Simon Property Group by 1.4% during the 2nd quarter. Kissinger Financial Services LLC now owns 22,047 shares of the real estate investment trust’s stock worth $3,566,000 after acquiring an additional 294 shares in the last quarter. Principal Financial Group Inc. lifted its position in Simon Property Group by 9.7% during the 2nd quarter. Principal Financial Group Inc. now owns 6,112,741 shares of the real estate investment trust’s stock worth $988,797,000 after acquiring an additional 542,743 shares in the last quarter. Thrivent Financial For Lutherans lifted its position in Simon Property Group by 1.5% during the 2nd quarter. Thrivent Financial For Lutherans now owns 173,231 shares of the real estate investment trust’s stock worth $28,021,000 after acquiring an additional 2,530 shares in the last quarter. Eaton Vance Management lifted its position in Simon Property Group by 110.5% during the 2nd quarter. Eaton Vance Management now owns 1,545,545 shares of the real estate investment trust’s stock worth $250,007,000 after acquiring an additional 811,457 shares in the last quarter. Finally, Partners Value Investments LP acquired a new position in Simon Property Group during the 2nd quarter worth approximately $11,647,000. 95.10% of the stock is currently 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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