Simon Property Group Inc (SPG) Upgraded to Buy by Hilliard Lyons

Hilliard Lyons upgraded shares of Simon Property Group Inc (NYSE:SPG) from a neutral rating to a buy rating in a research report report published on Friday. The firm currently has $197.00 price objective on the real estate investment trust’s stock. The analysts noted that the move was a valuation call.

Several other research analysts have also issued reports on SPG. Royal Bank of Canada restated a hold rating and set a $216.00 price target on shares of Simon Property Group in a report on Tuesday, January 3rd. Goldman Sachs Group Inc lowered shares of Simon Property Group from a buy rating to a neutral rating and lowered their price target for the stock from $207.00 to $185.00 in a report on Friday. BTIG Research restated a buy rating and set a $231.00 price target on shares of Simon Property Group in a report on Wednesday, February 1st. Barclays PLC lowered their price target on shares of Simon Property Group from $247.00 to $202.00 and set an overweight rating for the company in a report on Monday, January 23rd. Finally, Zacks Investment Research lowered shares of Simon Property Group from a hold rating to a sell rating in a report on Tuesday, March 7th. Seven investment analysts have rated the stock with a hold rating and nine have issued a buy rating to the company’s stock. The company presently has an average rating of Buy and a consensus price target of $225.13.

Shares of Simon Property Group (NYSE:SPG) traded up 0.25% on Friday, reaching $168.44. 517,432 shares of the company traded hands. The firm has a 50-day moving average price of $178.93 and a 200 day moving average price of $188.22. The company has a market capitalization of $52.73 billion, a PE ratio of 28.70 and a beta of 0.60. Simon Property Group has a one year low of $166.65 and a one year high of $229.10.

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

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

Institutional investors have recently bought and sold shares of the company. 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 worth $4,473,320,000 after buying an additional 2,211,682 shares in 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 worth $1,576,417,000 after buying an additional 289,385 shares in 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 worth $1,189,180,000 after buying an additional 127,005 shares in 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 worth $1,103,216,000 after buying an additional 64,200 shares in 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 worth $1,088,820,000 after buying an additional 206,498 shares in the last quarter. 97.40% of the stock is currently owned by hedge funds and other institutional investors.

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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