Continuum Advisory LLC increased its position in Simon Property Group, Inc. (NYSE:SPG – Free Report) by 421.6% in the 1st quarter, according to its most recent 13F filing with the SEC. The firm owned 193 shares of the real estate investment trust’s stock after buying an additional 156 shares during the period. Continuum Advisory LLC’s holdings in Simon Property Group were worth $32,000 at the end of the most recent quarter.
A number of other institutional investors have also bought and sold shares of SPG. Norges Bank purchased a new position in shares of Simon Property Group in the fourth quarter valued at about $2,059,505,000. Geode Capital Management LLC lifted its holdings in Simon Property Group by 2.6% in the 4th quarter. Geode Capital Management LLC now owns 9,160,242 shares of the real estate investment trust’s stock worth $1,577,600,000 after purchasing an additional 230,982 shares in the last quarter. Northern Trust Corp boosted its stake 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 worth $940,758,000 after purchasing an additional 1,718,398 shares during the period. JPMorgan Chase & Co. grew its holdings in Simon Property Group by 5.5% during the 4th quarter. JPMorgan Chase & Co. now owns 4,710,538 shares of the real estate investment trust’s stock valued at $811,202,000 after buying an additional 246,630 shares in the last quarter. Finally, Invesco Ltd. raised its position in shares of Simon Property Group by 14.8% during the fourth quarter. Invesco Ltd. now owns 4,216,575 shares of the real estate investment trust’s stock valued at $726,136,000 after buying an additional 542,511 shares during the last quarter. Hedge funds and other institutional investors own 93.01% of the company’s stock.
Analyst Ratings Changes
SPG has been the subject of a number of research reports. Piper Sandler dropped their target price on shares of 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. Wall Street Zen downgraded shares of Simon Property Group from a “buy” rating to a “hold” rating in a report on Saturday, March 29th. Stifel Nicolaus lifted their target price on Simon Property Group from $168.50 to $180.00 and gave the stock a “buy” rating in a report on Tuesday, May 13th. Mizuho decreased their target price on Simon Property Group from $182.00 to $169.00 and set a “neutral” rating on the stock in a research report on Tuesday, June 10th. Finally, JPMorgan Chase & Co. dropped their price target on Simon Property Group from $192.00 to $180.00 and set a “neutral” rating for the company in a research note on Thursday, May 22nd. Six equities research analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. According to MarketBeat, the stock has an average rating of “Hold” and a consensus target price of $179.44.
Simon Property Group Trading Up 2.1%
SPG opened at $160.70 on Friday. The stock has a 50-day moving average of $159.47 and a 200 day moving average of $167.03. The company has a current ratio of 1.45, a quick ratio of 1.45 and a debt-to-equity ratio of 8.29. Simon Property Group, Inc. has a 12 month low of $136.34 and a 12 month high of $190.14. The firm has a market cap of $52.45 billion, a P/E ratio of 25.59, a P/E/G ratio of 8.78 and a beta of 1.47.
Simon Property Group (NYSE:SPG – Get Free Report) last posted its quarterly earnings data 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. The business had revenue of $1.47 billion during the quarter, compared to analyst estimates of $1.34 billion. Simon Property Group had a return on equity of 67.32% and a net margin of 35.98%. The company’s revenue for the quarter was up 2.1% on a year-over-year basis. During the same period last year, the company earned $3.56 EPS. As a group, research analysts forecast that Simon Property Group, Inc. will post 12.54 EPS for the current year.
Simon Property Group Announces Dividend
The company also recently disclosed a quarterly dividend, which will be paid on Monday, June 30th. Shareholders of record on Monday, June 9th will be paid a dividend of $2.10 per share. This represents a $8.40 annualized dividend and a yield of 5.23%. The ex-dividend date of this dividend is Monday, June 9th. Simon Property Group’s payout ratio is 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.
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