Atria Investments Inc boosted its stake in Simon Property Group, Inc. (NYSE:SPG – Free Report) by 14.0% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 9,992 shares of the real estate investment trust’s stock after purchasing an additional 1,224 shares during the period. Atria Investments Inc’s holdings in Simon Property Group were worth $1,119,000 at the end of the most recent quarter.
A number of other large investors have also added to or reduced their stakes in the stock. Private Advisor Group LLC bought a new stake in Simon Property Group in the 1st quarter worth approximately $2,266,000. AMG National Trust Bank bought a new stake in Simon Property Group in the 1st quarter worth approximately $2,393,000. Kentucky Retirement Systems boosted its stake in shares of Simon Property Group by 0.4% during the 1st quarter. Kentucky Retirement Systems now owns 25,851 shares of the real estate investment trust’s stock worth $2,895,000 after acquiring an additional 114 shares during the last quarter. Register Financial Advisors LLC boosted its stake in shares of Simon Property Group by 37.1% during the 1st quarter. Register Financial Advisors LLC now owns 1,126 shares of the real estate investment trust’s stock worth $126,000 after acquiring an additional 305 shares during the last quarter. Finally, Resources Investment Advisors LLC. purchased a new position in shares of Simon Property Group during the 1st quarter worth $390,000. Institutional investors own 84.73% of the company’s stock.
Wall Street Analyst Weigh In
SPG has been the topic of several analyst reports. Wolfe Research upgraded shares of Simon Property Group from a “peer perform” rating to an “outperform” rating and set a $127.00 price target on the stock in a research note on Wednesday, July 5th. Stifel Nicolaus lifted their price target on shares of Simon Property Group from $130.00 to $139.00 in a research note on Wednesday, July 12th. Mizuho lowered their target price on shares of Simon Property Group from $116.00 to $106.00 in a research note on Friday, May 26th. Finally, StockNews.com assumed coverage on shares of Simon Property Group in a research note on Thursday, August 17th. They set a “hold” rating on the stock. Three investment analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. According to data from MarketBeat.com, Simon Property Group has a consensus rating of “Moderate Buy” and an average price target of $129.30.
Simon Property Group Stock Up 0.1 %
Shares of SPG stock opened at $110.73 on Monday. The stock has a market cap of $36.23 billion, a P/E ratio of 16.83, a PEG ratio of 4.56 and a beta of 1.53. Simon Property Group, Inc. has a 52 week low of $86.02 and a 52 week high of $133.08. The company has a quick ratio of 1.02, a current ratio of 1.02 and a debt-to-equity ratio of 7.67. The company’s fifty day simple moving average is $117.93 and its two-hundred day simple moving average is $113.84.
Simon Property Group Increases Dividend
The business also recently declared a quarterly dividend, which will be paid on Friday, September 29th. Shareholders of record on Friday, September 8th will be paid a $1.90 dividend. The ex-dividend date of this dividend is Thursday, September 7th. This represents a $7.60 annualized dividend and a yield of 6.86%. This is a boost from Simon Property Group’s previous quarterly dividend of $1.85. Simon Property Group’s payout ratio is presently 112.46%.
Simon Property Group Profile
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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