Simon Property Group Inc. (NYSE:SPG) saw an upside of 1.62% to close Tuesday at $134.77 after adding $2.15 on the day. The 5-day average trading volume is 1,623,760 shares of the company’s common stock. It has gained $136.20 in the past week. An average of 1,842,385 shares of the company has been traded in the last 20 days, and the 50-day average volume stands at 1,876,252.
SPG’s 1-month performance is 2.78% or $6.87 on its low of $127.07 reached on 09/20/21. The company’s shares have touched a 52-week low of $59.35 and high of $137.38, with the stock’s rally to the 52-week high happening on 09/02/21. YTD, SPG has achieved 58.03% or $49.49. However, the current price is down -1.90%% from the 52-week high price.
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The company’s PE ratio for the last five years has touched a high of 38.44 and a low of 6.596. SPG stock has a beta of 1.50. Moving on to other valuation ratios, the trailing price-to-sales (P/S) ratio is 9.59 while the price-to-book (PB) in the most recent quarter is 13.88, with the price to cash flow ratio at 32.97.
Simon Property Group Inc. pays an annual dividend of $6.00 per share. Its dividend yield is 4.45% and the payout ratio is 116.00%. SPG’s most recent quarterly dividend payment was made on Sep. 30, when it paid $1.50 a share compared with prior rate of $1.40, up 6.67% from last year’s. The company has boosted its dividend for the last 2 consecutive years with the latest dividend increase of $0.10 reported on Monday August 2 2021. Measured over the last 3 years, the Dividend has been growing by -16.08% yearly.
It is projected that Simon Property Group Inc.’s next ex-dividend date will be on 13-Dec. SPG is expected to distribute $1.50 as its next dividend.
As well, the company’s long term debt to equity for the quarter ending June 29 was 8.22, while the total debt to equity was 8.22. In terms of profitability, the gross margin trailing 12 months is 81.00%. while for the period ending June 29; Simon Property Group Inc.’s operating margin was 44.20%. The firm’s gross profit as reported stood at $1.97 billion against revenue of $4.61 billion.
For the quarterly period ending June 29 this year, Net income and sales went up compared to those figures reported in the previous quarter. Net income grew 15.32% to $1.25 billion, while revenue of $1.24 billion was 1.13% off the previous quarter. Analysts expected SPG to announce $1.01 per share in earnings in its latest quarter, but it posted $1.88, representing a 86.10% surprise. EBITDA for the quarter stood at more than $937.69 million. SPG stock balance sheet for the quarter ending June 29 shows that, with total debt at $26.74 billion. Shareholders hold equity totaling $328.62 million
Let’s look briefly at Simon Property Group Inc. (SPG) price momentum from a technical analysis perspective. The 9-day relative strength index as at close on 12 October was 58.28% to suggest the stock is trending Neutral, with historical volatility in this time period at 24.87%.
The stock’s 5-day moving average is $133.22, reflecting a +2.57% or $3.38 change from its current price. SPG is currently trading +4.02% above its 20-day SMA, +9.95% above its 100-day SMA. However, the stock’s current price level is away from the SMA50 and SMA200 by +6.69% and +59.74% respectively.
Stochastic %K and %D was 52.74% and 52.92% and the average true range (ATR) pointed at 3.19. The RSI (14) points at 55.78%, while the 14-day stochastic is at 71.41% with the period’s ATR at 3.15. The stock’s 9-day MACD Oscillator is pointing at 0.62 and 0.05 on the 14-day charts.
In the most recent analyst report for Simon Property Group Inc. (NYSE: SPG), Argus upgraded it to a Buy rating. They previously had a Hold rating on the stock. Analysts offering their rating for SPG stock have a consensus rating for the stock as Overweight. Currently, 0 brokerage advisors rate SPG as a “sell,”, while 10 advise that investors “Hold.” 0 analysts have rated the stock as underweight. 0 rates the stock as overweight while 11 have offered a “buy” rating.
What is SPG’s price target for the next 12 months?
Analysts have a consensus price target ranging from a low of $130.00 and a high of $177.00, with their median price target at $146.00. Looking at these predictions, the average price target given by analysts is for Simon Property Group Inc. (SPG) stock is $150.33.