Simon Property Group, Inc. (NYSE:SPG) Stake Decreased by Diligent Investors LLC

Diligent Investors LLC lessened its holdings in shares of Simon Property Group, Inc. (NYSE:SPG) by 10.2% during the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 12,278 shares of the real estate investment trust’s stock after selling 1,395 shares during the period. Diligent Investors LLC’s holdings in Simon Property Group were worth $2,039,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds also recently made changes to their positions in the company. Hopwood Financial Services Inc. bought a new stake in shares of Simon Property Group during the fourth quarter valued at approximately $28,000. WR Wealth Planners LLC raised its holdings in shares of Simon Property Group by 328.2% during the fourth quarter. WR Wealth Planners LLC now owns 167 shares of the real estate investment trust’s stock valued at $29,000 after buying an additional 128 shares during the last quarter. New England Capital Financial Advisors LLC bought a new stake in shares of Simon Property Group during the fourth quarter valued at approximately $30,000. Caisse Des Depots ET Consignations bought a new stake in shares of Simon Property Group during the fourth quarter valued at approximately $31,000. Finally, TCTC Holdings LLC bought a new stake in shares of Simon Property Group during the fourth quarter valued at approximately $34,000. Institutional investors own 93.01% of the company’s stock.

Simon Property Group Stock Up 0.0%

Simon Property Group stock opened at $161.80 on Thursday. The company has a market capitalization of $52.82 billion, a P/E ratio of 22.29, a P/E/G ratio of 10.10 and a beta of 1.43. The firm’s fifty day simple moving average is $157.12 and its 200-day simple moving average is $169.58. The company has a current ratio of 1.28, a quick ratio of 2.00 and a debt-to-equity ratio of 7.19. Simon Property Group, Inc. has a 1-year low of $136.34 and a 1-year high of $190.14.

Simon Property Group (NYSE:SPG) last announced its earnings results on Monday, May 12th. The real estate investment trust reported $2.95 EPS for the quarter, topping the consensus estimate of $2.91 by $0.04. The firm had revenue of $1.47 billion for the quarter, compared to the consensus estimate of $1.34 billion. Simon Property Group had a net margin of 41.49% and a return on equity of 74.02%. The business’s quarterly revenue was up 2.1% on a year-over-year basis. During the same quarter last year, the firm posted $3.56 EPS. Sell-side analysts forecast that Simon Property Group, Inc. will post 12.54 earnings per share for the current fiscal year.

Simon Property Group Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Monday, June 30th. Stockholders of record on Monday, June 9th will be issued a dividend of $2.10 per share. The ex-dividend date is Monday, June 9th. This represents a $8.40 annualized dividend and a dividend yield of 5.19%. Simon Property Group’s payout ratio is 133.76%.

Wall Street Analysts Forecast Growth

Several brokerages recently commented on SPG. JPMorgan Chase & Co. dropped their target price on Simon Property Group from $192.00 to $180.00 and set a “neutral” rating on the stock in a report on Thursday, May 22nd. Wall Street Zen cut Simon Property Group from a “buy” rating to a “hold” rating in a report on Saturday, March 29th. Piper Sandler dropped their price target on Simon Property Group from $205.00 to $200.00 and set an “overweight” rating on the stock in a report on Friday, May 23rd. Scotiabank dropped their price target on Simon Property Group from $186.00 to $159.00 and set a “sector perform” rating on the stock in a report on Wednesday, April 23rd. Finally, Stifel Nicolaus upped their price target on Simon Property Group from $168.50 to $180.00 and gave the company a “buy” rating in a report on Tuesday, May 13th. Six investment analysts have rated the stock with a hold rating and five have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Hold” and an average target price of $179.20.

Simon Property Group Profile

Simon Property Group, Inc (NYSE:SPG) is a self-administered and self-managed real estate investment trust (REIT). Simon Property Group, L.P., or the Operating Partnership, is our majority-owned partnership subsidiary that owns all of our real estate properties and other assets. In this package, the terms Simon, we, our, or the Company refer to Simon Property Group, Inc, the Operating Partnership, and its subsidiaries.