Integrated Advisors Network LLC Has $3.28 Million Position in Simon Property Group, Inc. (NYSE:SPG)

Integrated Advisors Network LLC boosted its stake in shares of Simon Property Group, Inc. (NYSE:SPG) by 4.8% in the 1st quarter, according to its most recent Form 13F filing with the SEC. The fund owned 19,764 shares of the real estate investment trust’s stock after purchasing an additional 903 shares during the period. Integrated Advisors Network LLC’s holdings in Simon Property Group were worth $3,282,000 as of its most recent filing with the SEC.

Other large investors have also recently bought and sold shares of the company. Brighton Jones LLC acquired a new position in Simon Property Group in the 4th quarter valued at $295,000. Stratos Wealth Partners LTD. lifted its holdings in Simon Property Group by 8.4% during the 4th quarter. Stratos Wealth Partners LTD. now owns 2,723 shares of the real estate investment trust’s stock worth $469,000 after buying an additional 212 shares during the period. Golden State Wealth Management LLC acquired a new position in Simon Property Group during the 4th quarter worth about $45,000. Kestra Private Wealth Services LLC increased its holdings in Simon Property Group by 407.0% in the fourth quarter. Kestra Private Wealth Services LLC now owns 15,893 shares of the real estate investment trust’s stock worth $2,737,000 after purchasing an additional 12,758 shares in the last quarter. Finally, Wingate Wealth Advisors Inc. acquired a new position in Simon Property Group in the fourth quarter valued at approximately $41,000. 93.01% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of research analysts recently weighed in on SPG shares. JPMorgan Chase & Co. dropped their price target on Simon Property Group from $192.00 to $180.00 and set a “neutral” rating on the stock in a research note on Thursday, May 22nd. Piper Sandler dropped their target price on Simon Property Group from $205.00 to $200.00 and set an “overweight” rating on the stock in a research report on Friday, May 23rd. Wall Street Zen downgraded Simon Property Group from a “buy” rating to a “hold” rating in a research report on Saturday, March 29th. Stifel Nicolaus raised their price target on Simon Property Group from $168.50 to $180.00 and gave the company a “buy” rating in a research report on Tuesday, May 13th. Finally, Mizuho reduced their price objective on Simon Property Group from $182.00 to $169.00 and set a “neutral” rating on the stock in a research note on Tuesday. Six analysts have rated the stock with a hold rating and four have issued a buy rating to the company. According to MarketBeat.com, Simon Property Group has a consensus rating of “Hold” and a consensus price target of $179.00.

Simon Property Group Price Performance

SPG stock opened at $159.62 on Thursday. The firm has a 50 day moving average price of $157.15 and a 200-day moving average price of $168.88. Simon Property Group, Inc. has a 52-week low of $136.34 and a 52-week high of $190.14. The firm has a market capitalization of $52.10 billion, a price-to-earnings ratio of 21.99, a PEG ratio of 10.10 and a beta of 1.47. The company has a debt-to-equity ratio of 7.19, a quick ratio of 2.00 and a current ratio of 1.28.

Simon Property Group (NYSE:SPG) last released its earnings results on Monday, May 12th. The real estate investment trust reported $2.95 earnings per share (EPS) for the quarter, beating the consensus estimate 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 analyst estimates of $1.34 billion. During the same period last year, the business earned $3.56 earnings per share. The business’s revenue was up 2.1% on a year-over-year basis. Equities research analysts forecast that Simon Property Group, Inc. will post 12.54 EPS for the current fiscal year.

Simon Property Group Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Monday, June 30th. Investors of record on Monday, June 9th will be issued a $2.10 dividend. The ex-dividend date is Monday, June 9th. This represents a $8.40 dividend on an annualized basis and a yield of 5.26%. Simon Property Group’s payout ratio is currently 133.76%.

Simon Property Group Company 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.