Bridgefront Capital LLC Buys Shares of 1,777 Simon Property Group, Inc. (NYSE:SPG)

Bridgefront Capital LLC acquired a new stake in shares of Simon Property Group, Inc. (NYSE:SPG - Free Report) in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor acquired 1,777 shares of the real estate investment trust's stock, valued at approximately $306,000.

A number of other institutional investors also recently modified their holdings of SPG. Diversified Trust Co increased its stake in shares of Simon Property Group by 65.3% during the fourth quarter. Diversified Trust Co now owns 17,319 shares of the real estate investment trust's stock valued at $2,983,000 after buying an additional 6,840 shares during the period. Fulton Bank N.A. bought a new position in Simon Property Group in the 4th quarter worth $346,000. First Hawaiian Bank raised its holdings in Simon Property Group by 35.0% in the 4th quarter. First Hawaiian Bank now owns 5,294 shares of the real estate investment trust's stock worth $912,000 after purchasing an additional 1,372 shares in the last quarter. ORG Partners LLC lifted its position in shares of Simon Property Group by 13.0% in the 4th quarter. ORG Partners LLC now owns 3,403 shares of the real estate investment trust's stock worth $587,000 after purchasing an additional 391 shares during the period. Finally, Harbor Capital Advisors Inc. boosted its stake in shares of Simon Property Group by 2.5% during the 4th quarter. Harbor Capital Advisors Inc. now owns 6,343 shares of the real estate investment trust's stock valued at $1,092,000 after purchasing an additional 154 shares in the last quarter. 93.01% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several analysts have commented on SPG shares. Scotiabank lowered their price objective on shares of Simon Property Group from $186.00 to $159.00 and set a "sector perform" rating for the company in a report on Wednesday, April 23rd. StockNews.com lowered Simon Property Group from a "buy" rating to a "hold" rating in a research report on Saturday, March 29th. Stifel Nicolaus upgraded Simon Property Group from a "hold" rating to a "buy" rating and set a $168.50 price objective for the company in a report on Wednesday, April 9th. Finally, Piper Sandler raised Simon Property Group from a "neutral" rating to an "overweight" rating and raised their price objective for the company from $175.00 to $205.00 in a research report on Wednesday, February 5th. Five investment analysts have rated the stock with a hold rating and five have given a buy rating to the company's stock. According to MarketBeat.com, the company currently has an average rating of "Moderate Buy" and a consensus price target of $178.39.

Simon Property Group Stock Up 0.2 %

Simon Property Group stock traded up $0.25 during mid-day trading on Friday, reaching $163.26. The stock had a trading volume of 1,612,138 shares, compared to its average volume of 1,510,183. The company has a market capitalization of $53.27 billion, a price-to-earnings ratio of 22.49, a PEG ratio of 10.10 and a beta of 1.43. 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 one year low of $136.34 and a one year high of $190.14. The company has a 50-day moving average price of $158.81 and a two-hundred day moving average price of $171.15.

Simon Property Group 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.