The stock of Simon Property Group Inc. (NYSE:SPG) last traded at $123.01, up 1.70% from the previous session.
Data from the available sources indicates that Simon Property Group Inc. (NYSE:SPG) is covered by 18 analysts. 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 $106.00, we find $128.00. Given the previous closing price of $120.95, this indicates a potential upside of 5.83 percent. SPG stock price is now 12.36% away from the 50-day moving average and 9.45% away from the 200-day moving average. The market capitalization of the company currently stands at $40.41B.
In total, 9 analysts have assigned it a hold rating, and 9 have given it a buy rating. Brokers who have rated the stock have averaged $129.75 as their price target over the next twelve months.
With the price target maintained at $127, Wolfe Research recently Upgraded its rating from Peer Perform to Outperform for Simon Property Group Inc. (NYSE: SPG).
In other news, LEIBOWITZ REUBEN S, Director bought 526 shares of the company’s stock on Jun 30. The stock was bought for $61,100 at an average price of $116.16. Upon completion of the transaction, the Director now directly owns 49,147 shares in the company, valued at $6.05 million. An SEC document containing details of the transaction can be found on the SEC’s website. On Jun 30, Director HUBBARD ALLAN B bought 429 shares of the business’s stock. A total of $49,833 was incurred on buying the stock at an average price of $116.16. This leaves the insider owning 31,026 shares of the company worth $3.82 million. Insiders disposed of 20,227 shares of company stock worth roughly $2.49 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 OFI INVEST ASSET MANAGEMENT during the first quarter worth $70,396,000. ALLSTATE INVESTMENT MANAGEMENT CO invested $19,353,000 in shares of SPG during the first quarter. In the first quarter, TWINBEECH CAPITAL LP acquired a new stake in Simon Property Group Inc. valued at approximately $13,248,000. POINT72 ASSET MANAGEMENT, L.P. acquired a new stake in SPG for approximately $9,427,000. GYL FINANCIAL SYNERGIES, LLC purchased a new stake in SPG valued at around $7,847,000 in the second quarter. In total, there are 1,383 active investors with 83.00% ownership of the company’s stock.
With an opening price of $121.53 on Tuesday morning, Simon Property Group Inc. (NYSE: SPG) set off the trading day. During the past 12 months, Simon Property Group Inc. has had a low of $86.02 and a high of $133.08. According to the stock market information, the enterprise value for the company is $65.18B, which is based on a 18.63 price-to-earnings ratio, a 2.17 price-to-earnings-growth ratio, and a beta of 1.54. The fifty day moving average price for SPG is $109.73 and a two-hundred day moving average price translates $112.53 for the stock.
The latest earnings results from Simon Property Group Inc. (NYSE: SPG) was released for Mar, 2023. According to the REIT – Retail Company, earnings per share came in at $1.38, missing analysts’ expectations of $1.39 by -0.01. This compares to $1.30 EPS in the same period last year. The net profit margin was 40.40% and return on equity was 71.60% for SPG. The company reported revenue of $1.35 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 4.24 percent. For the current quarter, analysts expect SPG to generate $1.25B in revenue.
Moreover, the firm recently paid out its quarterly dividend on 06/30/2023. Investors who held shares on 06/09/2023 were paid a $1.85 dividend. On an annualized basis, this represents a $7.40 dividend and a 6.02% percent yield. There was an ex-dividend date of 06/08/2023 for this dividend. In terms of dividend payout ratio, SPG is presently at 106.80%.
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.
