Simon Property Group (NYSE:SPG) Hits New 12-Month Low at $111.00

Simon Property Group, Inc. (NYSE:SPGGet Rating) shares hit a new 52-week low during mid-day trading on Thursday . The company traded as low as $111.00 and last traded at $112.35, with a volume of 54980 shares trading hands. The stock had previously closed at $113.67.

A number of equities analysts have commented on the stock. Stifel Nicolaus dropped their target price on shares of Simon Property Group from $180.00 to $165.00 in a research note on Tuesday, May 10th. Mizuho cut their price objective on shares of Simon Property Group from $162.00 to $158.00 and set a “neutral” rating on the stock in a research note on Tuesday, February 8th. StockNews.com began coverage on shares of Simon Property Group in a research note on Thursday, March 31st. They issued a “hold” rating on the stock. Morgan Stanley dropped their price target on shares of Simon Property Group from $180.00 to $160.00 and set an “overweight” rating on the stock in a research report on Monday, March 7th. Finally, Wells Fargo & Company reduced their price target on shares of Simon Property Group from $152.00 to $140.00 and set an “equal weight” rating for the company in a research report on Thursday, April 7th. Eight research analysts have rated the stock with a hold rating and ten have issued a buy rating to the company. According to MarketBeat.com, the stock has an average rating of “Buy” and an average price target of $164.31.

The company has a market capitalization of $36.69 billion, a PE ratio of 16.51, a price-to-earnings-growth ratio of 2.26 and a beta of 1.46. The company has a quick ratio of 1.10, a current ratio of 1.10 and a debt-to-equity ratio of 6.82. The firm has a 50-day moving average of $126.38 and a two-hundred day moving average of $143.34.

Simon Property Group (NYSE:SPGGet Rating) last released its quarterly earnings results on Monday, May 9th. The real estate investment trust reported $1.30 EPS for the quarter, missing the consensus estimate of $2.74 by ($1.44). Simon Property Group had a return on equity of 56.67% and a net margin of 43.12%. The firm had revenue of $1.30 billion for the quarter, compared to analysts’ expectations of $1.24 billion. During the same quarter in the prior year, the business earned $2.48 earnings per share. The company’s quarterly revenue was up 4.5% on a year-over-year basis. On average, equities research analysts expect that Simon Property Group, Inc. will post 11.72 EPS for the current year.

The company also recently declared a quarterly dividend, which will be paid on Thursday, June 30th. Stockholders of record on Thursday, June 9th will be given a dividend of $1.70 per share. This is a positive change from Simon Property Group’s previous quarterly dividend of $1.65. This represents a $6.80 annualized dividend and a dividend yield of 6.09%. The ex-dividend date of this dividend is Wednesday, June 8th. Simon Property Group’s dividend payout ratio (DPR) is currently 97.35%.

A number of large investors have recently added to or reduced their stakes in SPG. Morgan Stanley boosted its holdings in Simon Property Group by 56.6% in the second quarter. Morgan Stanley now owns 4,402,869 shares of the real estate investment trust’s stock valued at $574,486,000 after purchasing an additional 1,590,556 shares during the period. Mutual of America Capital Management LLC boosted its holdings in Simon Property Group by 0.6% in the third quarter. Mutual of America Capital Management LLC now owns 43,115 shares of the real estate investment trust’s stock valued at $5,604,000 after purchasing an additional 245 shares during the period. Fuller & Thaler Asset Management Inc. raised its stake in Simon Property Group by 30.4% in the third quarter. Fuller & Thaler Asset Management Inc. now owns 16,730 shares of the real estate investment trust’s stock valued at $2,174,000 after buying an additional 3,900 shares in the last quarter. California Public Employees Retirement System raised its stake in Simon Property Group by 0.3% in the third quarter. California Public Employees Retirement System now owns 734,125 shares of the real estate investment trust’s stock valued at $95,414,000 after buying an additional 2,294 shares in the last quarter. Finally, Eagle Asset Management Inc. raised its stake in Simon Property Group by 0.5% in the third quarter. Eagle Asset Management Inc. now owns 13,000 shares of the real estate investment trust’s stock valued at $1,689,000 after buying an additional 64 shares in the last quarter. Hedge funds and other institutional investors own 91.62% of the company’s stock.

Simon Property Group Company Profile (NYSE:SPG)

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.

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