Simon Property Group Inc (SPG) Downgraded by Goldman Sachs Group Inc to “Neutral”

Goldman Sachs Group Inc lowered shares of Simon Property Group Inc (NYSE:SPG) from a buy rating to a neutral rating in a research note released on Friday. Goldman Sachs Group Inc currently has $185.00 price objective on the real estate investment trust’s stock, down from their prior price objective of $207.00.

A number of other analysts have also commented on the company. Deutsche Bank AG lowered Simon Property Group from a buy rating to a hold rating and decreased their price objective for the stock from $231.00 to $188.00 in a report on Monday, January 9th. SunTrust Banks, Inc. lowered Simon Property Group from a buy rating to a hold rating in a report on Thursday, January 19th. They noted that the move was a valuation call. Zacks Investment Research lowered Simon Property Group from a hold rating to a sell rating in a report on Tuesday, March 7th. Canaccord Genuity reissued a buy rating on shares of Simon Property Group in a report on Saturday, January 7th. Finally, Barclays PLC decreased their price objective on Simon Property Group from $247.00 to $202.00 and set an overweight rating for the company in a report on Monday, January 23rd. Seven equities research analysts have rated the stock with a hold rating and nine have given a buy rating to the stock. The stock has an average rating of Buy and an average target price of $225.13.

Simon Property Group (NYSE:SPG) traded down 0.01% during mid-day trading on Friday, reaching $168.00. The company had a trading volume of 577,740 shares. The company’s 50-day moving average is $178.93 and its 200-day moving average is $188.22. Simon Property Group has a one year low of $166.65 and a one year high of $229.10. The stock has a market capitalization of $52.60 billion, a PE ratio of 28.62 and a beta of 0.60.

Simon Property Group (NYSE:SPG) last issued its quarterly earnings data on Tuesday, January 31st. The real estate investment trust reported $2.53 EPS for the quarter, topping analysts’ consensus estimates of $1.48 by $1.05. The firm earned $1.43 billion during the quarter, compared to analyst estimates of $1.46 billion. Simon Property Group had a return on equity of 39.00% and a net margin of 35.11%. The company’s revenue for the quarter was up 3.3% on a year-over-year basis. During the same period in the previous year, the company posted $2.40 EPS. Equities research analysts anticipate that Simon Property Group will post $6.61 earnings per share for the current year.

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The company also recently disclosed a quarterly dividend, which was paid on Tuesday, February 28th. Investors of record on Tuesday, February 14th were paid a $1.75 dividend. This is an increase from Simon Property Group’s previous quarterly dividend of $1.65. The ex-dividend date was Friday, February 10th. This represents a $7.00 annualized dividend and a yield of 4.17%. Simon Property Group’s dividend payout ratio is presently 119.25%.

A number of institutional investors have recently bought and sold shares of the stock. Cohen & Steers Inc. increased its position in Simon Property Group by 12.0% in the second quarter. Cohen & Steers Inc. now owns 20,623,882 shares of the real estate investment trust’s stock valued at $4,473,320,000 after buying an additional 2,211,682 shares during the last quarter. BlackRock Fund Advisors increased its position in Simon Property Group by 4.0% in the third quarter. BlackRock Fund Advisors now owns 7,615,174 shares of the real estate investment trust’s stock valued at $1,576,417,000 after buying an additional 289,385 shares during the last quarter. Principal Financial Group Inc. increased its position in Simon Property Group by 2.3% in the third quarter. Principal Financial Group Inc. now owns 5,744,554 shares of the real estate investment trust’s stock valued at $1,189,180,000 after buying an additional 127,005 shares during the last quarter. Northern Trust Corp increased its position in Simon Property Group by 1.2% in the third quarter. Northern Trust Corp now owns 5,329,290 shares of the real estate investment trust’s stock valued at $1,103,216,000 after buying an additional 64,200 shares during the last quarter. Finally, Shinko Asset Management Co. Ltd. increased its position in Simon Property Group by 4.1% in the third quarter. Shinko Asset Management Co. Ltd. now owns 5,259,747 shares of the real estate investment trust’s stock valued at $1,088,820,000 after buying an additional 206,498 shares during the last quarter. Institutional investors and hedge funds own 97.40% of the company’s stock.

About Simon Property Group

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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