Simon Property Group, Inc. (NYSE:SPG) Shares Acquired by Breakwater Capital Group

Breakwater Capital Group boosted its position in Simon Property Group, Inc. (NYSE:SPG) by 7.7% during the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 1,540 shares of the real estate investment trust’s stock after purchasing an additional 110 shares during the quarter. Breakwater Capital Group’s holdings in Simon Property Group were worth $256,000 at the end of the most recent quarter.

Several other hedge funds have also recently bought and sold shares of SPG. Norges Bank acquired a new stake in shares of Simon Property Group in the fourth quarter valued at approximately $2,059,505,000. Northern Trust Corp increased its position in Simon Property Group by 45.9% in the 4th quarter. Northern Trust Corp now owns 5,462,856 shares of the real estate investment trust’s stock valued at $940,758,000 after acquiring an additional 1,718,398 shares during the period. Resolution Capital Ltd bought a new stake in Simon Property Group during the 4th quarter valued at $212,592,000. GAMMA Investing LLC raised its stake in Simon Property Group by 16,346.0% during the 1st quarter. GAMMA Investing LLC now owns 876,736 shares of the real estate investment trust’s stock valued at $145,608,000 after acquiring an additional 871,405 shares in the last quarter. Finally, Capital World Investors acquired a new position in Simon Property Group during the 4th quarter worth $119,777,000. 93.01% of the stock is currently owned by institutional investors.

Simon Property Group Price Performance

Shares of NYSE SPG opened at $162.19 on Friday. Simon Property Group, Inc. has a twelve month low of $136.34 and a twelve month high of $190.14. The company has a current ratio of 1.28, a quick ratio of 2.00 and a debt-to-equity ratio of 7.19. The firm has a 50-day moving average of $156.92 and a two-hundred day moving average of $169.31. The company has a market capitalization of $52.94 billion, a price-to-earnings ratio of 22.34, a PEG ratio of 10.10 and a beta of 1.43.

Simon Property Group (NYSE:SPG) last released its earnings results on Monday, May 12th. The real estate investment trust reported $2.95 EPS for the quarter, beating the consensus estimate of $2.91 by $0.04. The business had revenue of $1.47 billion during the quarter, compared to analyst estimates 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 period in the prior year, the business earned $3.56 earnings per share. As a group, analysts expect that Simon Property Group, Inc. will post 12.54 earnings per share for the current fiscal year.

Simon Property Group Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, June 30th. Shareholders of record on Monday, June 9th will be issued a dividend of $2.10 per share. The ex-dividend date of this dividend is Monday, June 9th. This represents a $8.40 annualized dividend and a yield of 5.18%. Simon Property Group’s payout ratio is presently 133.76%.

Analyst Upgrades and Downgrades

SPG has been the topic of a number of research analyst reports. Piper Sandler lowered 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. JPMorgan Chase & Co. decreased their target price on shares of Simon Property Group from $192.00 to $180.00 and set a “neutral” rating for the company in a research report on Thursday, May 22nd. Scotiabank dropped their price target on shares of Simon Property Group from $186.00 to $159.00 and set a “sector perform” rating on the stock in a research report on Wednesday, April 23rd. Stifel Nicolaus upped their price target on shares of Simon Property Group from $168.50 to $180.00 and gave the stock a “buy” rating in a research note on Tuesday, May 13th. Finally, Wall Street Zen cut shares of Simon Property Group from a “buy” rating to a “hold” rating in a report on Saturday, March 29th. Six research analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. According to data from MarketBeat, the stock currently has a consensus 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.