Simon Realty Group, Inc. (NYSE:SPG – Get Rating) declared a quarterly dividend on Monday, August 1, reports RTT News. Investors of record on Friday, September 9 will receive a dividend of 1.75 per share from the real estate investment trust on Friday, September 30. This represents a dividend of $7.00 on an annualized basis and a yield of 6.47%. This is an increase from Simon Property Group’s previous quarterly dividend of $1.70.

Simon Property Group has a payout ratio of 103.8%, meaning the company cannot currently cover its dividend with earnings alone and relies on its balance sheet to cover its dividend payments. Research analysts expect Simon Property Group to earn $12.24 per share next year, meaning the company should continue to be able to cover its $6.80 annual dividend with a ratio expected future payout of 55.6%.

Share of the Simon real estate group down 0.4%

Shares of NYSE:SPG traded down $0.47 during Monday’s trading, hitting $108.17. 88,626 shares of the company were traded, against an average volume of 2,144,019. The company has a market cap of $35.54 billion, a P/E ratio of 16.02, a price/earnings growth ratio of 2.55 and a beta of 1.49. The company has a fifty-day simple moving average of $102.11 and a 200-day simple moving average of $122.17. The company has a quick ratio of 1.10, a current ratio of 1.10 and a debt ratio of 6.82. Simon Property Group has a 1-year low of $93.06 and a 1-year high of $171.12.

Simon Property Group (NYSE:SPG – Get Rating) last released its results on Monday, May 9. The real estate investment trust reported earnings per share of $1.30 for the quarter, missing consensus analyst estimates of $2.74 per ($1.44). The company posted revenue of $1.30 billion for the quarter, versus analyst estimates of $1.24 billion. Simon Property Group achieved a return on equity of 56.67% and a net margin of 43.12%. The company’s revenue increased 4.5% year over year. During the same period of the previous year, the company achieved EPS of $2.48. Analysts expect Simon Property Group to post earnings per share of 11.72 for the current financial year.

Analysts set new price targets

Several brokerages have weighed in on SPG. UBS Group lowered its price target on Simon Property Group shares from $138.00 to $110.00 and set a “neutral” rating on the stock in a Monday July 25 research note. Deutsche Bank Aktiengesellschaft cut its price target on Simon Property Group shares from $173.00 to $129.00 in a Monday, July 18 report. Jefferies Financial Group downgraded shares of Simon Property Group from a “buy” rating to a “hold” rating and reduced its target price for the stock from $160.00 to $100.00 in a Thursday 30 report. June. Piper Sandler cut her price target on shares of Simon Property Group to $130.00 in a Monday July 4 report. Finally, Morgan Stanley lowered its price target on Simon Property Group shares from $145.00 to $133.00 and set an “overweight” rating on the stock in a Friday, July 15 report. Six research analysts gave the stock a hold rating and nine gave the company a buy rating. Based on data from MarketBeat.com, Simon Property Group currently has an average rating of “Moderate Buy” and an average price target of $147.60.

Simon Property Group Institutional Trading

Several hedge funds and other institutional investors have recently changed their stock holdings. Parkside Financial Bank & Trust increased its stake in Simon Property Group shares by 17.1% in the 1st quarter. Parkside Financial Bank & Trust now owns 638 shares of the real estate investment trust worth $84,000 after buying 93 additional shares during the period. Interchange Capital Partners LLC increased its stake in Simon Property Group by 5.1% in the 1st quarter. Interchange Capital Partners LLC now owns 3,740 shares of the real estate investment trust worth $492,000 after buying an additional 180 shares in the last quarter. MidWestOne Financial Group Inc. increased its stake in Simon Property Group by 3.6% in the 1st quarter. MidWestOne Financial Group Inc. now owns 5,354 shares of the real estate investment trust worth $704,000 after buying 184 additional shares in the last quarter. AMI Investment Management Inc. increased its stake in Simon Property Group by 1.2% in the 1st quarter. AMI Investment Management Inc. now owns 17,576 shares of the real estate investment trust worth $2,312,000 after purchasing an additional 204 shares last quarter. Finally, Orion Portfolio Solutions LLC increased its stake in Simon Property Group by 11.5% in the first quarter. Orion Portfolio Solutions LLC now owns 2,682 shares of the real estate investment trust worth $353,000 after acquiring 276 additional shares in the last quarter. Institutional investors hold 91.62% of the company’s shares.

Simon Real Estate Group Company Profile

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Simon is a real estate investment trust engaged in the ownership of leading 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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