In yesterday’s Wall Street session, Simon Property Group Inc. (NYSE:SPG) shares traded at $119.05, up 0.67% from the previous session.
18 analysts cover Simon Property Group Inc. (NYSE:SPG), according to research data. The consensus rating among analysts is ‘Overweight’. As we calculate the median target price by taking the range between a high of $160.00 and a low of $98.00, we find $124.50. Given the previous closing price of $118.26, this indicates a potential upside of 5.28 percent. SPG stock price is now 10.93% away from the 50-day moving average and 6.35% away from the 200-day moving average. The market capitalization of the company currently stands at $40.71B.
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The stock has received a hold rating from 10 analysts and a buy rating from 8. Brokers who have rated the stock have averaged $121.86 as their price target over the next twelve months.
On June 30, 2022, Jefferies Downgraded its previous ‘Buy’ rating to ‘Hold’ on the stock keeping its target price maintained at $100, while ‘Argus’ rates the stock as ‘Buy’.
In other news, SELIG STEFAN M, Director bought 202 shares of the company’s stock on Sep 30. The stock was bought for $18,037 at an average price of $89.29. Upon completion of the transaction, the Director now directly owns 25,546 shares in the company, valued at $3.04 million. An SEC document containing details of the transaction can be found on the SEC’s website. On Sep 30, Director Roe Peggy Fang bought 38 shares of the business’s stock. A total of $3,393 was incurred on buying the stock at an average price of $89.29. This leaves the insider owning 1,986 shares of the company worth $0.24 million. Insiders disposed of 8,353 shares of company stock worth roughly $0.99 million over the past 1 year. A total of 0.10% of the company’s stock is owned by insiders.
There have been several recent changes in the stakes of large investors in SPG stock. A new stake in Simon Property Group Inc. shares was purchased by AEW CAPITAL MANAGEMENT L P during the first quarter worth $33,792,000. ALYESKA INVESTMENT GROUP, L.P. invested $23,789,000 in shares of SPG during the first quarter. In the first quarter, ARTEMIS INVESTMENT MANAGEMENT LLP acquired a new stake in Simon Property Group Inc. valued at approximately $22,532,000. CAPITAL FUND MANAGEMENT S.A. acquired a new stake in SPG for approximately $10,833,000. AMALGAMATED FINANCIAL CORP. purchased a new stake in SPG valued at around $10,259,000 in the second quarter. In total, there are 1,316 active investors with 83.00% ownership of the company’s stock.
On Wednesday morning Simon Property Group Inc. (NYSE: SPG) stock kicked off with the opening price of $117.61. During the past 12 months, Simon Property Group Inc. has had a low of $86.02 and a high of $165.83. The fifty day moving average price for SPG is $107.92 and a two-hundred day moving average price translates $111.85 for the stock.
The latest earnings results from Simon Property Group Inc. (NYSE: SPG) was released for Jun, 2022. According to the REIT – Retail Company, earnings per share came in at $1.51, beating analysts’ expectations of $1.43 by 0.08. This compares to $2.07 EPS in the same period last year. The net profit margin was 37.70% and return on equity was 62.70% for SPG. The company reported revenue of $1.32 billion for the quarter, compared to $1.3 billion a year earlier. Comparatively to last year’s same quarter, the company’s quarterly revenue rose 1.48 percent. For the current quarter, analysts expect SPG to generate $1.23B in revenue.
Moreover, the firm recently paid out its quarterly dividend on 12/30/2022. Investors who held shares on 12/09/2022 were paid a $1.80 dividend. On an annualized basis, this represents a $7.20 dividend and a 6.05% percent yield. There was an ex-dividend date of 12/08/2022 for this dividend. In terms of dividend payout ratio, SPG is presently at 112.70%.
Simon Property Group Inc.(SPG) 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.
