Sunbelt Securities Inc. Purchases 391 Shares of Simon Property Group, Inc. (NYSE:SPG)

Sunbelt Securities Inc. boosted its position in Simon Property Group, Inc. (NYSE:SPG – Get Rating) by 14.0% in the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 3,180 shares of the real estate investment trust’s stock after purchasing an additional 391 shares during the quarter. Sunbelt Securities Inc.’s holdings in Simon Property Group were worth $285,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Parkside Financial Bank & Trust raised its stake in Simon Property Group by 17.1% in the first quarter. Parkside Financial Bank & Trust now owns 638 shares of the real estate investment trust’s stock valued at $84,000 after purchasing an additional 93 shares in the last quarter. Riverview Trust Co lifted its position in shares of Simon Property Group by 46.0% during the 3rd quarter. Riverview Trust Co now owns 308 shares of the real estate investment trust’s stock valued at $28,000 after acquiring an additional 97 shares during the period. Global Retirement Partners LLC boosted its stake in Simon Property Group by 27.9% during the third quarter. Global Retirement Partners LLC now owns 449 shares of the real estate investment trust’s stock worth $49,000 after acquiring an additional 98 shares in the last quarter. Tiedemann Advisors LLC grew its holdings in Simon Property Group by 1.9% in the third quarter. Tiedemann Advisors LLC now owns 5,431 shares of the real estate investment trust’s stock worth $487,000 after purchasing an additional 101 shares during the period. Finally, Brinker Capital Investments LLC increased its stake in Simon Property Group by 2.7% in the third quarter. Brinker Capital Investments LLC now owns 4,355 shares of the real estate investment trust’s stock valued at $391,000 after purchasing an additional 114 shares in the last quarter. 83.89% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of equities research analysts recently commented on the company. Truist Financial increased their price target on Simon Property Group from $125.00 to $130.00 and gave the company a “hold” rating in a research report on Tuesday, February 21st. StockNews.com initiated coverage on Simon Property Group in a report on Thursday. They set a “hold” rating on the stock. Deutsche Bank Aktiengesellschaft raised their price target on shares of Simon Property Group from $115.00 to $130.00 in a research note on Tuesday, January 3rd. Mizuho cut their target price on shares of Simon Property Group from $130.00 to $116.00 in a research report on Monday, March 13th. Finally, Morgan Stanley upped their price target on shares of Simon Property Group from $131.00 to $132.00 and gave the company an “overweight” rating in a research note on Wednesday, February 22nd. Seven equities research analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. Based on data from MarketBeat.com, Simon Property Group presently has a consensus rating of “Hold” and an average target price of $130.58.

Simon Property Group Stock Performance

Shares of SPG opened at $104.31 on Friday. Simon Property Group, Inc. has a 12-month low of $86.02 and a 12-month high of $138.65. The company has a current ratio of 0.97, a quick ratio of 0.97 and a debt-to-equity ratio of 6.99. The company has a market cap of $34.10 billion, a PE ratio of 16.00, a price-to-earnings-growth ratio of 2.64 and a beta of 1.52. The stock has a 50-day moving average price of $122.36 and a 200-day moving average price of $113.18.

Simon Property Group (NYSE:SPG – Get Rating) last announced its quarterly earnings data on Monday, February 6th. The real estate investment trust reported $2.06 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $3.14 by ($1.08). Simon Property Group had a net margin of 40.43% and a return on equity of 60.33%. The company had revenue of $1.40 billion for the quarter, compared to the consensus estimate of $1.29 billion. During the same period last year, the business posted $3.09 earnings per share. The firm’s quarterly revenue was up 5.6% compared to the same quarter last year. As a group, equities analysts forecast that Simon Property Group, Inc. will post 12.06 earnings per share for the current fiscal year.

Simon Property Group Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, March 31st. Investors of record on Friday, March 10th will be issued a $1.80 dividend. The ex-dividend date is Thursday, March 9th. This represents a $7.20 dividend on an annualized basis and a yield of 6.90%. Simon Property Group’s dividend payout ratio is currently 110.43%.

Simon Property Group Profile

(Get Rating)

Simon Property Group, Inc is a self-administered and self-managed real estate investment trust, which engages in the ownership, development, and management of shopping, dining, entertainment, and mixed-used destinations, which consist primarily of malls, Premium Outlets, and The Mills. The company was founded by Fred Simon, Herbert Simon and Melvin Simon in 1993 and is headquartered in Indianapolis, IN.