Guardian Capital Advisors LP Buys 3,900 Shares of Simon Property Group, Inc. (NYSE:SPG)

Guardian Capital Advisors LP grew its stake in Simon Property Group, Inc. (NYSE:SPGGet Rating) by 58.3% during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 10,595 shares of the real estate investment trust’s stock after acquiring an additional 3,900 shares during the quarter. Guardian Capital Advisors LP’s holdings in Simon Property Group were worth $1,337,000 at the end of the most recent quarter.

Several other hedge funds have also added to or reduced their stakes in SPG. Cowa LLC bought a new stake in Simon Property Group in the first quarter worth $107,000. Norges Bank purchased a new position in shares of Simon Property Group in the fourth quarter worth $518,891,000. State Street Corp raised its stake in shares of Simon Property Group by 10.1% in the first quarter. State Street Corp now owns 23,491,606 shares of the real estate investment trust’s stock worth $3,090,556,000 after purchasing an additional 2,158,735 shares during the last quarter. Vanguard Group Inc. raised its stake in shares of Simon Property Group by 3.9% in the first quarter. Vanguard Group Inc. now owns 49,391,784 shares of the real estate investment trust’s stock worth $6,497,983,000 after purchasing an additional 1,845,801 shares during the last quarter. Finally, BlackRock Inc. raised its stake in shares of Simon Property Group by 3.5% in the fourth quarter. BlackRock Inc. now owns 35,039,594 shares of the real estate investment trust’s stock worth $5,598,275,000 after purchasing an additional 1,181,872 shares during the last quarter. 81.86% of the stock is owned by institutional investors.

Analyst Ratings Changes

Several research analysts have recently weighed in on SPG shares. Mizuho decreased their price target on Simon Property Group from $158.00 to $115.00 and set a “neutral” rating for the company in a research note on Wednesday, August 3rd. Compass Point decreased their price target on Simon Property Group from $200.00 to $160.00 and set a “buy” rating for the company in a research note on Wednesday, June 22nd. Jefferies Financial Group cut Simon Property Group from a “buy” rating to a “hold” rating and reduced their price objective for the company from $160.00 to $100.00 in a research report on Thursday, June 30th. Piper Sandler reduced their price objective on Simon Property Group to $130.00 in a research report on Monday, July 4th. Finally, UBS Group upped their price objective on Simon Property Group from $110.00 to $115.00 and gave the company a “neutral” rating in a research report on Tuesday, August 2nd. Seven analysts have rated the stock with a hold rating and seven have assigned a buy rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $142.29.

Simon Property Group Stock Performance

NYSE:SPG opened at $105.25 on Tuesday. The stock has a 50-day simple moving average of $104.35 and a two-hundred day simple moving average of $114.14. Simon Property Group, Inc. has a 52-week low of $93.06 and a 52-week high of $171.12. The company has a debt-to-equity ratio of 7.13, a quick ratio of 1.02 and a current ratio of 1.02. The firm has a market capitalization of $36.09 billion, a PE ratio of 16.42, a P/E/G ratio of 1.96 and a beta of 1.49.

Simon Property Group (NYSE:SPGGet Rating) last released its quarterly earnings results on Monday, August 1st. The real estate investment trust reported $1.51 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.43 by $0.08. Simon Property Group had a return on equity of 56.93% and a net margin of 40.59%. The business had revenue of $1.28 billion during the quarter, compared to analyst estimates of $1.25 billion. During the same quarter in the previous year, the company posted $2.92 earnings per share. Simon Property Group’s revenue for the quarter was up 2.0% on a year-over-year basis. Analysts forecast that Simon Property Group, Inc. will post 11.66 EPS for the current year.

Simon Property Group Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, September 30th. Stockholders of record on Friday, September 9th will be paid a $1.75 dividend. This is a positive change from Simon Property Group’s previous quarterly dividend of $1.70. The ex-dividend date of this dividend is Thursday, September 8th. This represents a $7.00 dividend on an annualized basis and a dividend yield of 6.65%. Simon Property Group’s dividend payout ratio is 109.20%.

About Simon Property Group

(Get Rating)

Simon is a real estate investment trust engaged in the ownership of premier shopping, dining, entertainment and mixed-use destinations and an S&P 100 company (Simon Property Group, NYSE: SPG). Our properties across North America, Europe and Asia provide community gathering places for millions of people every day and generate billions in annual sales.

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

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