The price of Simon Property Group Inc. (NYSE:SPG) shares last traded on Wall Street rose 0.67% to $125.44.
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 $130.00. Given the previous closing price of $124.60, this indicates a potential upside of 4.33 percent. SPG stock price is now 10.11% away from the 50-day moving average and 9.35% away from the 200-day moving average. The market capitalization of the company currently stands at $40.53B.
Brokers who have rated the stock have averaged $131.13 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 $6.16 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 $3.89 million. Insiders disposed of 20,227 shares of company stock worth roughly $2.54 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 ALLSTATE INVESTMENT MANAGEMENT CO during the first quarter worth $19,735,000. TWINBEECH CAPITAL LP invested $13,510,000 in shares of SPG during the first quarter. In the first quarter, POINT72 ASSET MANAGEMENT, L.P. acquired a new stake in Simon Property Group Inc. valued at approximately $9,614,000. GYL FINANCIAL SYNERGIES, LLC acquired a new stake in SPG for approximately $8,002,000. LIGHTHOUSE INVESTMENT PARTNERS, LLC purchased a new stake in SPG valued at around $7,526,000 in the second quarter. In total, there are 1,385 active investors with 83.00% ownership of the company’s stock.
A candlestick chart of Simon Property Group Inc. (NYSE: SPG) showed a price of $124.44 on Tuesday morning. 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 $65.97B, which is based on a 19.00 price-to-earnings ratio, a 2.21 price-to-earnings-growth ratio, and a beta of 1.55. The fifty day moving average price for SPG is $114.32 and a two-hundred day moving average price translates $114.87 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 5.90% 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.
