Simon Quick Advisors LLC Acquires 504 Shares of Simon Property Group, Inc. (NYSE:SPG)

Simon Quick Advisors LLC increased its holdings in shares of Simon Property Group, Inc. (NYSE:SPG) by 24.1% in the first quarter, according to its most recent filing with the SEC. The fund owned 2,592 shares of the real estate investment trust’s stock after acquiring an additional 504 shares during the period. Simon Quick Advisors LLC’s holdings in Simon Property Group were worth $431,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently modified their holdings of the business. Asset Management One Co. Ltd. raised its position in Simon Property Group by 0.7% during the 4th quarter. Asset Management One Co. Ltd. now owns 587,933 shares of the real estate investment trust’s stock valued at $101,130,000 after purchasing an additional 3,990 shares in the last quarter. Brighton Jones LLC bought a new stake in Simon Property Group during the 4th quarter valued at $295,000. Allworth Financial LP raised its position in Simon Property Group by 140.6% during the 4th quarter. Allworth Financial LP now owns 3,152 shares of the real estate investment trust’s stock valued at $545,000 after purchasing an additional 1,842 shares in the last quarter. Principal Securities Inc. raised its position in Simon Property Group by 4.2% during the 4th quarter. Principal Securities Inc. now owns 4,140 shares of the real estate investment trust’s stock valued at $713,000 after purchasing an additional 166 shares in the last quarter. Finally, PNC Financial Services Group Inc. raised its position in Simon Property Group by 7.7% during the 4th quarter. PNC Financial Services Group Inc. now owns 361,893 shares of the real estate investment trust’s stock valued at $62,322,000 after purchasing an additional 25,987 shares in the last quarter. 93.01% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

SPG has been the subject of a number of research analyst reports. Mizuho decreased their target price on Simon Property Group from $182.00 to $169.00 and set a “neutral” rating for the company in a research report on Tuesday. Stifel Nicolaus boosted their price target on Simon Property Group from $168.50 to $180.00 and gave the stock a “buy” rating in a research report on Tuesday, May 13th. Piper Sandler cut their target price on 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. JPMorgan Chase & Co. reduced 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 report on Thursday, May 22nd. Finally, Scotiabank reduced 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 report on Wednesday, April 23rd. Six investment analysts have rated the stock with a hold rating and four have given a buy rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus price target of $179.00.

Simon Property Group Stock Down 1.3%

Shares of SPG opened at $156.67 on Friday. Simon Property Group, Inc. has a 52 week low of $136.34 and a 52 week high of $190.14. The company has a quick ratio of 2.00, a current ratio of 1.28 and a debt-to-equity ratio of 7.19. The company has a market capitalization of $51.14 billion, a price-to-earnings ratio of 21.58, a PEG ratio of 10.10 and a beta of 1.47. The stock’s 50-day moving average price is $157.80 and its 200-day moving average price is $168.55.

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

Simon Property Group Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, June 30th. Shareholders of record on Monday, June 9th will be given a dividend of $2.10 per share. The ex-dividend date of this dividend is Monday, June 9th. This represents a $8.40 dividend on an annualized basis and a yield of 5.36%. Simon Property Group’s dividend 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.