3,014 Shares in Simon Property Group, Inc. (NYSE:SPG) Acquired by M Holdings Securities Inc.

M Holdings Securities Inc. bought a new position in shares of Simon Property Group, Inc. (NYSE:SPGGet Rating) during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund bought 3,014 shares of the real estate investment trust’s stock, valued at approximately $397,000.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in SPG. Westwood Wealth Management bought a new position in shares of Simon Property Group in the first quarter valued at $13,814,000. Tradition Wealth Management LLC bought a new position in shares of Simon Property Group in the first quarter valued at $25,000. Cyrus J. Lawrence LLC bought a new position in shares of Simon Property Group in the first quarter valued at $29,000. Tyler Stone Wealth Management bought a new position in shares of Simon Property Group in the fourth quarter valued at $38,000. Finally, Vectors Research Management LLC bought a new position in shares of Simon Property Group in the fourth quarter valued at $42,000. Institutional investors own 81.86% of the company’s stock.

Simon Property Group Trading Up 0.2 %

Simon Property Group stock opened at $99.70 on Friday. The stock has a market cap of $34.19 billion, a P/E ratio of 15.55, a P/E/G ratio of 1.88 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 company’s fifty day simple moving average is $104.74 and its 200-day simple moving average is $113.20. The company has a quick ratio of 1.02, a current ratio of 1.02 and a debt-to-equity ratio of 7.13.

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, topping 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 company had revenue of $1.28 billion during the quarter, compared to the consensus estimate of $1.25 billion. During the same quarter in the prior year, the company posted $2.92 EPS. The firm’s revenue was up 2.0% on a year-over-year basis. As a group, sell-side analysts forecast that Simon Property Group, Inc. will post 11.66 EPS for the current fiscal year.

Simon Property Group Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, September 30th. Investors of record on Friday, September 9th will be paid a $1.75 dividend. This represents a $7.00 dividend on an annualized basis and a dividend yield of 7.02%. This is an increase from Simon Property Group’s previous quarterly dividend of $1.70. The ex-dividend date is Thursday, September 8th. Simon Property Group’s dividend payout ratio (DPR) is presently 109.20%.

Analysts Set New Price Targets

SPG has been the topic of several research reports. Morgan Stanley dropped their price target on Simon Property Group from $133.00 to $131.00 and set an “overweight” rating on the stock in a report on Monday, August 29th. Jefferies Financial Group cut shares of Simon Property Group from a “buy” rating to a “hold” rating and lowered their price objective for the stock from $160.00 to $100.00 in a research report on Thursday, June 30th. Compass Point lowered their price objective on shares of Simon Property Group from $200.00 to $160.00 and set a “buy” rating on the stock in a research report on Wednesday, June 22nd. Piper Sandler lowered their price objective on shares of Simon Property Group to $130.00 in a research report on Monday, July 4th. Finally, UBS Group lifted their price objective on shares of Simon Property Group from $110.00 to $115.00 and gave the stock a “neutral” rating in a research report on Tuesday, August 2nd. Seven equities research analysts have rated the stock with a hold rating and seven have given a buy rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $142.29.

Simon Property Group 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.

See Also

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

Receive News & Ratings for Simon Property Group Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Simon Property Group and related companies with MarketBeat.com's FREE daily email newsletter.