Royal Bank Of Canada reissued their hold rating on shares of Simon Property Group, Inc. (NYSE:SPG) in a report released on Thursday. Royal Bank Of Canada currently has a $176.00 price target on the real estate investment trust’s stock.
Several other brokerages have also commented on SPG. Stifel Nicolaus reissued a hold rating and issued a $170.00 price objective on shares of Simon Property Group in a report on Thursday, October 12th. Boenning Scattergood set a $240.00 price target on Simon Property Group and gave the stock a buy rating in a research note on Wednesday, August 2nd. Barclays PLC lifted their price target on Simon Property Group from $188.00 to $190.00 and gave the stock an overweight rating in a research note on Tuesday, August 8th. Zacks Investment Research raised Simon Property Group from a hold rating to a buy rating and set a $182.00 price target on the stock in a research note on Wednesday, October 11th. Finally, Jefferies Group LLC reaffirmed a buy rating and issued a $190.00 price target on shares of Simon Property Group in a research note on Monday, July 17th. One analyst has rated the stock with a sell rating, seven have assigned a hold rating and twelve have given a buy rating to the stock. The company currently has a consensus rating of Buy and a consensus target price of $191.45.
Shares of Simon Property Group (SPG) traded down $0.68 on Thursday, reaching $154.32. The company’s stock had a trading volume of 721,622 shares, compared to its average volume of 1,470,000. The company has a debt-to-equity ratio of 5.57, a quick ratio of 0.93 and a current ratio of 0.93. Simon Property Group has a one year low of $150.15 and a one year high of $189.25. The firm has a market capitalization of $49,370.00, a price-to-earnings ratio of 14.08, a P/E/G ratio of 2.08 and a beta of 0.60.
Simon Property Group (NYSE:SPG) last issued its quarterly earnings data on Friday, October 27th. The real estate investment trust reported $2.89 EPS for the quarter, beating the consensus estimate of $2.88 by $0.01. Simon Property Group had a return on equity of 41.85% and a net margin of 31.96%. The company had revenue of $1.40 billion for the quarter, compared to analyst estimates of $1.39 billion. During the same period last year, the company earned $2.70 earnings per share. Simon Property Group’s quarterly revenue was up 3.4% compared to the same quarter last year. analysts anticipate that Simon Property Group will post 11.21 earnings per share for the current fiscal year.
The business also recently disclosed a quarterly dividend, which will be paid on Thursday, November 30th. Investors of record on Thursday, November 16th will be given a dividend of $1.85 per share. This is an increase from Simon Property Group’s previous quarterly dividend of $1.80. The ex-dividend date of this dividend is Wednesday, November 15th. This represents a $7.40 dividend on an annualized basis and a yield of 4.80%. Simon Property Group’s dividend payout ratio (DPR) is presently 127.21%.
A number of large investors have recently bought and sold shares of SPG. Gotham Asset Management LLC purchased a new stake in Simon Property Group in the first quarter valued at $315,000. Driehaus Capital Management LLC raised its position in Simon Property Group by 12.1% in the first quarter. Driehaus Capital Management LLC now owns 2,425 shares of the real estate investment trust’s stock valued at $417,000 after purchasing an additional 262 shares during the period. Achmea Investment Management B.V. purchased a new stake in Simon Property Group in the first quarter valued at $555,000. PHH Investments Ltd. purchased a new stake in Simon Property Group in the first quarter valued at $852,000. Finally, Perigon Wealth Management LLC purchased a new stake in Simon Property Group in the first quarter valued at $312,000. Institutional investors own 95.24% of the company’s stock.
Simon Property Group Company Profile
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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