Simon Property Group (SPG) PT Raised to $190.00 at Raymond James

Simon Property Group (NYSE:SPG) had its target price raised by Raymond James from $185.00 to $190.00 in a report published on Monday morning. Raymond James currently has an outperform rating on the real estate investment trust’s stock.

SPG has been the subject of a number of other reports. Citigroup increased their price target on Simon Property Group from $187.00 to $190.00 and gave the stock a buy rating in a report on Tuesday, July 31st. Jefferies Financial Group reiterated a $170.72 rating and set a $194.00 price target on shares of Simon Property Group in a report on Wednesday, July 18th. Zacks Investment Research downgraded Simon Property Group from a buy rating to a hold rating in a research note on Monday. Bank of America raised their target price on Simon Property Group from $193.00 to $203.00 and gave the company a buy rating in a research note on Monday, September 10th. Finally, JPMorgan Chase & Co. upgraded Simon Property Group from a neutral rating to an overweight rating in a research note on Friday, October 5th. Four analysts have rated the stock with a hold rating and ten have issued a buy rating to the stock. The stock currently has an average rating of Buy and a consensus target price of $195.42.

Shares of Simon Property Group stock opened at $183.52 on Monday. The company has a debt-to-equity ratio of 6.14, a current ratio of 1.12 and a quick ratio of 1.13. Simon Property Group has a 1-year low of $145.78 and a 1-year high of $188.21. The stock has a market cap of $57.58 billion, a price-to-earnings ratio of 16.37, a price-to-earnings-growth ratio of 2.46 and a beta of 0.53.

Simon Property Group (NYSE:SPG) last issued its quarterly earnings results on Thursday, October 25th. The real estate investment trust reported $1.80 earnings per share for the quarter, topping the Zacks’ consensus estimate of $1.73 by $0.07. Simon Property Group had a return on equity of 57.87% and a net margin of 40.83%. The firm had revenue of $1.41 billion during the quarter, compared to the consensus estimate of $1.42 billion. On average, sell-side analysts forecast that Simon Property Group will post 12.12 earnings per share for the current year.

The company also recently announced a quarterly dividend, which will be paid on Friday, November 30th. Stockholders of record on Friday, November 16th will be paid a $2.00 dividend. The ex-dividend date is Thursday, November 15th. This represents a $8.00 annualized dividend and a dividend yield of 4.36%. Simon Property Group’s dividend payout ratio is presently 71.36%.

In other news, insider John Rulli sold 1,330 shares of the firm’s stock in a transaction dated Monday, August 6th. The stock was sold at an average price of $177.05, for a total value of $235,476.50. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Company insiders own 8.64% of the company’s stock.

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Kaizen Advisory LLC lifted its position in Simon Property Group by 138.1% in the 2nd quarter. Kaizen Advisory LLC now owns 712 shares of the real estate investment trust’s stock valued at $121,000 after acquiring an additional 413 shares in the last quarter. TRUE Private Wealth Advisors bought a new position in Simon Property Group in the 3rd quarter valued at about $156,000. Peapack Gladstone Financial Corp bought a new position in Simon Property Group in the 2nd quarter valued at about $203,000. Cumberland Partners Ltd bought a new position in Simon Property Group in the 2nd quarter valued at about $204,000. Finally, Murphy Capital Management Inc. bought a new position in Simon Property Group in the 2nd quarter valued at about $205,000. 92.72% of the stock is currently owned by institutional investors and hedge funds.

About Simon Property Group

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.

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Analyst Recommendations for Simon Property Group (NYSE:SPG)

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