Beacon Pointe Advisors LLC Has $5.23 Million Position in Simon Property Group, Inc. (NYSE:SPG)

Beacon Pointe Advisors LLC lessened its position in shares of Simon Property Group, Inc. (NYSE:SPG - Free Report) by 19.6% during the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 30,376 shares of the real estate investment trust's stock after selling 7,426 shares during the quarter. Beacon Pointe Advisors LLC's holdings in Simon Property Group were worth $5,231,000 at the end of the most recent quarter.

Other hedge funds have also added to or reduced their stakes in the company. Hopwood Financial Services Inc. bought a new position in shares of Simon Property Group in the 4th quarter valued at about $28,000. WR Wealth Planners LLC lifted its holdings in Simon Property Group by 328.2% in the fourth quarter. WR Wealth Planners LLC now owns 167 shares of the real estate investment trust's stock valued at $29,000 after buying an additional 128 shares during the period. New England Capital Financial Advisors LLC bought a new position in Simon Property Group in the fourth quarter valued at approximately $30,000. Caisse Des Depots ET Consignations acquired a new stake in Simon Property Group during the 4th quarter worth $31,000. Finally, TCTC Holdings LLC bought a new stake in shares of Simon Property Group during the 4th quarter valued at $34,000. Institutional investors own 93.01% of the company's stock.

Simon Property Group Stock Up 1.8 %

SPG traded up $2.90 during trading on Friday, reaching $161.77. The company had a trading volume of 1,319,863 shares, compared to its average volume of 1,515,904. The business's fifty day moving average price is $161.11 and its 200 day moving average price is $171.63. The company has a debt-to-equity ratio of 7.19, a current ratio of 1.28 and a quick ratio of 2.00. Simon Property Group, Inc. has a 12 month low of $136.34 and a 12 month high of $190.14. The company has a market cap of $52.78 billion, a P/E ratio of 22.28, a PEG ratio of 10.10 and a beta of 1.45.

Simon Property Group (NYSE:SPG - Get Free Report) last announced its earnings results on Tuesday, February 4th. The real estate investment trust reported $3.68 earnings per share for the quarter, topping analysts' consensus estimates of $1.98 by $1.70. Simon Property Group had a net margin of 41.49% and a return on equity of 74.02%. Equities analysts anticipate that Simon Property Group, Inc. will post 12.54 EPS for the current year.

Simon Property Group Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Monday, March 31st. Investors of record on Monday, March 10th were given a $2.10 dividend. This represents a $8.40 dividend on an annualized basis and a yield of 5.19%. The ex-dividend date of this dividend was Monday, March 10th. Simon Property Group's dividend payout ratio is presently 115.70%.

Analysts Set New Price Targets

Several research analysts have recently issued reports on the company. Stifel Nicolaus upgraded Simon Property Group from a "hold" rating to a "buy" rating and set a $168.50 price target on the stock in a research report on Wednesday, April 9th. StockNews.com lowered Simon Property Group from a "buy" rating to a "hold" rating in a research report on Saturday, March 29th. Scotiabank lowered their price target on Simon Property Group from $186.00 to $159.00 and set a "sector perform" rating for the company in a research note on Wednesday, April 23rd. Piper Sandler raised shares of Simon Property Group from a "neutral" rating to an "overweight" rating and lifted their price objective for the stock from $175.00 to $205.00 in a research note on Wednesday, February 5th. Finally, Jefferies Financial Group raised shares of Simon Property Group from a "hold" rating to a "buy" rating and upped their target price for the company from $179.00 to $198.00 in a research note on Thursday, January 2nd. Five equities research analysts have rated the stock with a hold rating and five have given a buy rating to the company's stock. Based on data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and a consensus price target of $178.39.

Simon Property Group Company Profile

Simon Property Group, Inc NYSE: SPG is a self-administered and self-managed real estate investment trust (REIT). Simon Property Group, L.P., or the Operating Partnership, is our majority-owned partnership subsidiary that owns all of our real estate properties and other assets. In this package, the terms Simon, we, our, or the Company refer to Simon Property Group, Inc, the Operating Partnership, and its subsidiaries.