Simon Property Group, Inc. (NYSE:SPG) Shares Acquired by Thurston Springer Miller Herd & Titak Inc.

Thurston Springer Miller Herd & Titak Inc. lifted its stake in shares of Simon Property Group, Inc. (NYSE:SPG) by 41.3% during the 1st quarter, Holdings Channel reports. The fund owned 718 shares of the real estate investment trust’s stock after buying an additional 210 shares during the quarter. Thurston Springer Miller Herd & Titak Inc.’s holdings in Simon Property Group were worth $120,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently modified their holdings of the company. Hopwood Financial Services Inc. purchased a new position in Simon Property Group during the fourth quarter worth about $28,000. WR Wealth Planners LLC increased its holdings in shares of Simon Property Group by 328.2% during the 4th quarter. WR Wealth Planners LLC now owns 167 shares of the real estate investment trust’s stock worth $29,000 after buying an additional 128 shares during the last quarter. New England Capital Financial Advisors LLC purchased a new stake in shares of Simon Property Group during the 4th quarter valued at approximately $30,000. Caisse Des Depots ET Consignations purchased a new stake in shares of Simon Property Group during the 4th quarter valued at approximately $31,000. Finally, TCTC Holdings LLC acquired a new position in Simon Property Group in the fourth quarter valued at approximately $34,000. Institutional investors and hedge funds own 93.01% of the company’s stock.

Wall Street Analyst Weigh In

Several equities research analysts have issued reports on SPG shares. Stifel Nicolaus raised their target price on Simon Property Group from $168.50 to $180.00 and gave the stock a “buy” rating in a research note on Tuesday, May 13th. Wall Street Zen downgraded Simon Property Group from a “buy” rating to a “hold” rating in a research report on Saturday, March 29th. JPMorgan Chase & Co. decreased their target price on shares of Simon Property Group from $192.00 to $180.00 and set a “neutral” rating on the stock in a research report on Thursday, May 22nd. Scotiabank lowered their target price on shares of Simon Property Group from $186.00 to $159.00 and set a “sector perform” rating for the company in a research note on Wednesday, April 23rd. Finally, Piper Sandler reduced their price target on shares of Simon Property Group from $205.00 to $200.00 and set an “overweight” rating on the stock in a research note on Friday, May 23rd. Six equities research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus price target of $179.20.

Simon Property Group Stock Performance

NYSE SPG opened at $162.19 on Friday. The company has a debt-to-equity ratio of 7.19, a current ratio of 1.28 and a quick ratio of 2.00. The company has a market cap of $52.94 billion, a P/E ratio of 22.34, a P/E/G ratio of 10.10 and a beta of 1.47. The stock has a 50-day moving average of $156.92 and a two-hundred day moving average of $169.23. 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 quarterly earnings data on Monday, May 12th. The real estate investment trust reported $2.95 earnings per share for the quarter, beating analysts’ consensus estimates of $2.91 by $0.04. Simon Property Group had a net margin of 41.49% and a return on equity of 74.02%. The firm had revenue of $1.47 billion during the quarter, compared to analysts’ expectations of $1.34 billion. During the same quarter in the previous year, the business posted $3.56 earnings per share. The business’s quarterly revenue was up 2.1% compared to the same quarter last year. As a group, analysts anticipate that Simon Property Group, Inc. will post 12.54 EPS for the current 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 given a dividend of $2.10 per share. This represents a $8.40 dividend on an annualized basis and a dividend yield of 5.18%. The ex-dividend date is Monday, June 9th. Simon Property Group’s dividend payout ratio is currently 133.76%.

About Simon Property Group

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.