International Assets Investment Management LLC Acquires 283 Shares of Simon Property Group, Inc. (NYSE:SPG)

International Assets Investment Management LLC boosted its holdings in shares of Simon Property Group, Inc. (NYSE:SPGFree Report) by 10.3% during the first quarter, HoldingsChannel reports. The fund owned 3,035 shares of the real estate investment trust’s stock after purchasing an additional 283 shares during the quarter. International Assets Investment Management LLC’s holdings in Simon Property Group were worth $504,000 at the end of the most recent quarter.

Other institutional investors have also recently added to or reduced their stakes in the company. Hopwood Financial Services Inc. acquired a new position in shares of Simon Property Group during the fourth quarter worth $28,000. WR Wealth Planners LLC raised its position in 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 purchasing an additional 128 shares during the last quarter. Caisse Des Depots ET Consignations acquired a new position in Simon Property Group during the 4th quarter worth about $31,000. Continuum Advisory LLC lifted its holdings in Simon Property Group by 421.6% during the 1st quarter. Continuum Advisory LLC now owns 193 shares of the real estate investment trust’s stock worth $32,000 after buying an additional 156 shares during the period. Finally, TCTC Holdings LLC bought a new stake in shares of Simon Property Group in the 4th quarter valued at about $34,000. 93.01% of the stock is owned by institutional investors.

Simon Property Group Price Performance

Shares of SPG opened at $160.70 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 debt-to-equity ratio of 8.29, a quick ratio of 1.45 and a current ratio of 1.45. The business’s 50 day moving average price is $159.47 and its two-hundred day moving average price is $167.03. The firm has a market cap of $52.45 billion, a PE ratio of 25.59, a price-to-earnings-growth ratio of 8.78 and a beta of 1.47.

Simon Property Group (NYSE:SPGGet Free Report) last issued its quarterly 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 return on equity of 67.32% and a net margin of 35.98%. The firm had revenue of $1.47 billion for the quarter, compared to analyst estimates of $1.34 billion. During the same period in the previous year, the firm earned $3.56 earnings per share. The company’s revenue was up 2.1% compared to the same quarter last year. On average, equities analysts anticipate 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 paid a $2.10 dividend. 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 dividend payout ratio (DPR) is presently 133.76%.

Analysts Set New Price Targets

A number of brokerages have recently issued reports on SPG. Mizuho lowered their price objective 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. Stifel Nicolaus upped their target price on Simon Property Group from $168.50 to $180.00 and gave the company a “buy” rating in a report on Tuesday, May 13th. Scotiabank upped their target price on Simon Property Group from $159.00 to $163.00 and gave the company a “sector perform” rating in a report on Tuesday, June 17th. Wall Street Zen cut Simon Property Group from a “buy” rating to a “hold” rating in a report on Saturday, March 29th. Finally, JPMorgan Chase & Co. reduced their target price on Simon Property Group from $192.00 to $180.00 and set a “neutral” rating on the stock in a report on Thursday, May 22nd. Six analysts have rated the stock with a hold rating and four have given a buy rating to the stock. According to MarketBeat, the company has an average rating of “Hold” and a consensus target price of $179.44.

Check Out Our Latest Stock Report on Simon Property Group

About Simon Property Group

(Free Report)

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.

Further Reading

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Institutional Ownership by Quarter for Simon Property Group (NYSE:SPG)

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