Atria Investments Inc boosted its stake in shares of Simon Property Group, Inc. (NYSE:SPG – Free Report) by 14.0% during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 9,992 shares of the real estate investment trust’s stock after acquiring 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 reporting period.
Other hedge funds have also recently added to or reduced their stakes in the company. Muzinich & Co. Inc. bought a new position in shares of Simon Property Group in the 4th quarter valued at $25,000. US Asset Management LLC bought a new position in shares of Simon Property Group in the 4th quarter valued at $26,000. Householder Group Estate & Retirement Specialist LLC bought a new position in shares of Simon Property Group in the 1st quarter valued at $27,000. Financial Freedom LLC bought a new position in shares of Simon Property Group in the 4th quarter valued at $27,000. Finally, TCI Wealth Advisors Inc. increased its stake in shares of Simon Property Group by 259.1% in the 4th quarter. TCI Wealth Advisors Inc. now owns 237 shares of the real estate investment trust’s stock valued at $28,000 after purchasing an additional 171 shares during the last quarter. Institutional investors own 84.73% of the company’s stock.
Wall Street Analysts Forecast Growth
Several equities analysts have recently issued reports on the company. StockNews.com assumed coverage on Simon Property Group in a research note on Thursday, August 17th. They issued a “hold” rating on the stock. Stifel Nicolaus lifted their price target on Simon Property Group from $130.00 to $139.00 in a research note on Wednesday, July 12th. Mizuho cut their price objective on Simon Property Group from $116.00 to $106.00 in a report on Friday, May 26th. Finally, Wolfe Research raised Simon Property Group from a “peer perform” rating to an “outperform” rating and set a $127.00 price objective on the stock in a report on Wednesday, July 5th. Three analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. According to MarketBeat.com, Simon Property Group presently has an average rating of “Moderate Buy” and a consensus price target of $129.30.
Simon Property Group Stock Up 0.1 %
Shares of SPG opened at $110.73 on Monday. The company has a market capitalization of $36.23 billion, a PE ratio of 16.83, a PEG ratio of 4.56 and a beta of 1.53. Simon Property Group, Inc. has a 12 month low of $86.02 and a 12 month high of $133.08. The stock’s 50-day moving average price is $117.93 and its two-hundred day moving average price is $113.84. The company has a current ratio of 1.02, a quick ratio of 1.02 and a debt-to-equity ratio of 7.67.
Simon Property Group Increases Dividend
The firm also recently disclosed a quarterly dividend, which will be paid on Friday, September 29th. Stockholders of record on Friday, September 8th will be paid a $1.90 dividend. This represents a $7.60 dividend on an annualized basis and a dividend yield of 6.86%. This is an increase from Simon Property Group’s previous quarterly dividend of $1.85. The ex-dividend date of this dividend is Thursday, September 7th. Simon Property Group’s payout ratio is currently 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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