Creative Financial Designs Inc. ADV Grows Stake in Simon Property Group, Inc. (NYSE:SPG)

Creative Financial Designs Inc. ADV increased its stake in Simon Property Group, Inc. (NYSE:SPG) by 24.7% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 2,021 shares of the real estate investment trust’s stock after acquiring an additional 400 shares during the period. Creative Financial Designs Inc. ADV’s holdings in Simon Property Group were worth $336,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in SPG. Hopwood Financial Services Inc. purchased a new position in Simon Property Group in the fourth quarter worth about $28,000. WR Wealth Planners LLC boosted its position 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 period. Caisse Des Depots ET Consignations purchased a new position in shares of Simon Property Group during the fourth quarter valued at approximately $31,000. Continuum Advisory LLC boosted its position in shares of Simon Property Group by 421.6% during the first quarter. Continuum Advisory LLC now owns 193 shares of the real estate investment trust’s stock valued at $32,000 after buying an additional 156 shares during the period. Finally, TCTC Holdings LLC purchased a new position in shares of Simon Property Group during the fourth quarter valued at approximately $34,000. Hedge funds and other institutional investors own 93.01% of the company’s stock.

Simon Property Group Stock Performance

Shares of NYSE:SPG opened at $160.42 on Friday. The company has a market capitalization of $52.36 billion, a price-to-earnings ratio of 25.54, a price-to-earnings-growth ratio of 8.96 and a beta of 1.47. 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 1.45, a current ratio of 1.45 and a debt-to-equity ratio of 8.29. The firm has a 50 day moving average of $159.68 and a 200 day moving average of $166.90.

Simon Property Group (NYSE:SPG) last issued its quarterly earnings data 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. The company had revenue of $1.47 billion during the quarter, compared to the consensus estimate of $1.34 billion. Simon Property Group had a net margin of 35.98% and a return on equity of 67.32%. Simon Property Group’s revenue for the quarter was up 2.1% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $3.56 earnings per share. On average, sell-side analysts predict that Simon Property Group, Inc. will post 12.54 earnings per share for the current fiscal year.

Simon Property Group Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, June 30th. Investors of record on Monday, June 9th will be paid a $2.10 dividend. This represents a $8.40 dividend on an annualized basis and a yield of 5.24%. The ex-dividend date of this dividend is Monday, June 9th. Simon Property Group’s dividend payout ratio (DPR) is 133.76%.

Wall Street Analysts Forecast Growth

SPG has been the subject of several recent analyst reports. Mizuho dropped 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, June 10th. Wall Street Zen lowered Simon Property Group from a “buy” rating to a “hold” rating in a research report on Saturday, March 29th. Stifel Nicolaus boosted their target price 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. Scotiabank boosted their target price on Simon Property Group from $159.00 to $163.00 and gave the company a “sector perform” rating in a research report on Tuesday, June 17th. Finally, Piper Sandler dropped their target price on Simon Property Group from $205.00 to $200.00 and set an “overweight” rating for the company in a research report on Friday, May 23rd. Six analysts have rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Hold” and a consensus target price of $179.44.

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.