Neuberger Berman Group LLC Decreases Stock Holdings in Simon Property Group, Inc. (NYSE:SPG)

Neuberger Berman Group LLC reduced its stake in Simon Property Group, Inc. (NYSE:SPGGet Rating) by 4.6% in the 1st quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 864,090 shares of the real estate investment trust’s stock after selling 41,941 shares during the quarter. Neuberger Berman Group LLC owned about 0.26% of Simon Property Group worth $113,691,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently modified their holdings of SPG. Tradition Wealth Management LLC purchased a new position in shares of Simon Property Group in the 1st quarter valued at approximately $25,000. Cyrus J. Lawrence LLC purchased a new position in shares of Simon Property Group in the 1st quarter valued at approximately $29,000. Tyler Stone Wealth Management purchased a new position in shares of Simon Property Group in the 4th quarter valued at approximately $38,000. SOA Wealth Advisors LLC. raised its position in shares of Simon Property Group by 2,000.0% in the 1st quarter. SOA Wealth Advisors LLC. now owns 294 shares of the real estate investment trust’s stock valued at $38,000 after purchasing an additional 280 shares during the last quarter. Finally, Riverview Trust Co purchased a new position in shares of Simon Property Group in the 1st quarter valued at approximately $38,000. 81.86% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

SPG has been the subject of several research analyst reports. Deutsche Bank Aktiengesellschaft decreased their price objective on shares of Simon Property Group from $173.00 to $129.00 in a research report on Monday, July 18th. Morgan Stanley cut their price target on shares of Simon Property Group from $133.00 to $131.00 and set an “overweight” rating on the stock in a report on Monday, August 29th. Piper Sandler cut their price target on shares of Simon Property Group to $130.00 in a report on Monday, July 4th. Truist Financial cut their price target on shares of Simon Property Group from $130.00 to $125.00 and set a “hold” rating on the stock in a report on Monday, August 15th. Finally, UBS Group increased their price target on shares of Simon Property Group from $110.00 to $115.00 and gave the stock a “neutral” rating in a report on Tuesday, August 2nd. Seven equities research analysts have rated the stock with a hold rating and seven have issued a buy rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $142.29.

Simon Property Group Price Performance

Shares of NYSE SPG opened at $99.70 on Friday. The stock has a market capitalization of $34.19 billion, a price-to-earnings ratio of 15.29, a PEG ratio of 1.89 and a beta of 1.49. Simon Property Group, Inc. has a 12 month low of $93.06 and a 12 month high of $171.12. The firm’s 50 day simple moving average is $104.70 and its 200-day simple moving average is $113.44. The company has a debt-to-equity ratio of 7.13, a current ratio of 1.02 and a quick ratio of 1.02.

Simon Property Group (NYSE:SPGGet Rating) last announced its earnings results on Monday, August 1st. The real estate investment trust reported $1.51 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates 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 firm had revenue of $1.28 billion for the quarter, compared to analyst estimates of $1.25 billion. During the same quarter last year, the firm posted $2.92 EPS. The business’s revenue was up 2.0% on a year-over-year basis. Analysts expect that Simon Property Group, Inc. will post 11.66 EPS for the current year.

Simon Property Group Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, September 30th. Stockholders of record on Friday, September 9th will be given a dividend of $1.75 per share. 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 7.02%. Simon Property Group’s dividend payout ratio (DPR) is 109.20%.

Simon Property Group Company Profile

(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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