EP Wealth Advisors LLC Purchases 2,537 Shares of Simon Property Group, Inc. (NYSE:SPG)

EP Wealth Advisors LLC lifted its holdings in shares of Simon Property Group, Inc. (NYSE:SPG - Free Report) by 137.1% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 4,388 shares of the real estate investment trust's stock after buying an additional 2,537 shares during the quarter. EP Wealth Advisors LLC's holdings in Simon Property Group were worth $756,000 at the end of the most recent quarter.

A number of other institutional investors also recently modified their holdings of the business. Colonial Trust Co SC lifted its stake in Simon Property Group by 37.5% in the 4th quarter. Colonial Trust Co SC now owns 209 shares of the real estate investment trust's stock worth $36,000 after purchasing an additional 57 shares in the last quarter. CoreCap Advisors LLC lifted its stake in Simon Property Group by 29.2% in the 4th quarter. CoreCap Advisors LLC now owns 906 shares of the real estate investment trust's stock worth $156,000 after purchasing an additional 205 shares in the last quarter. Crestline Management LP lifted its stake in Simon Property Group by 1,622.3% in the 4th quarter. Crestline Management LP now owns 36,168 shares of the real estate investment trust's stock worth $6,228,000 after purchasing an additional 34,068 shares in the last quarter. BROOKFIELD Corp ON lifted its stake in Simon Property Group by 74.4% in the 4th quarter. BROOKFIELD Corp ON now owns 181,222 shares of the real estate investment trust's stock worth $31,208,000 after purchasing an additional 77,304 shares in the last quarter. Finally, Bridgefront Capital LLC purchased a new stake in Simon Property Group in the 4th quarter worth approximately $306,000. 93.01% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several analysts have issued reports on the stock. Scotiabank lowered their target price on shares of Simon Property Group from $186.00 to $159.00 and set a "sector perform" rating on the stock in a research note on Wednesday, April 23rd. Piper Sandler upgraded shares of Simon Property Group from a "neutral" rating to an "overweight" rating and increased their target price for the stock from $175.00 to $205.00 in a research note on Wednesday, February 5th. StockNews.com lowered shares of Simon Property Group from a "buy" rating to a "hold" rating in a report on Saturday, March 29th. Finally, Stifel Nicolaus increased their price target on shares of Simon Property Group from $168.50 to $180.00 and gave the stock a "buy" rating in a report on Tuesday. Five investment analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. According to data from MarketBeat, Simon Property Group currently has an average rating of "Moderate Buy" and an average price target of $179.67.

Simon Property Group Trading Up 1.0%

Shares of SPG stock traded up $1.71 on Friday, hitting $164.74. 472,495 shares of the company's stock traded hands, compared to its average volume of 1,526,521. The company has a debt-to-equity ratio of 7.19, a quick ratio of 2.00 and a current ratio of 1.28. Simon Property Group, Inc. has a one year low of $136.34 and a one year high of $190.14. The company's fifty day simple moving average is $158.06 and its 200 day simple moving average is $170.94. The stock has a market capitalization of $53.75 billion, a price-to-earnings ratio of 22.69, a P/E/G ratio of 10.10 and a beta of 1.43.

Simon Property Group (NYSE:SPG - Get Free Report) last released its earnings results on Monday, May 12th. The real estate investment trust reported $2.95 EPS for the quarter, beating the consensus estimate of $2.91 by $0.04. Simon Property Group had a net margin of 41.49% and a return on equity of 74.02%. The company had revenue of $1.47 billion for the quarter, compared to analyst estimates of $1.34 billion. During the same quarter last year, the firm earned $3.56 EPS. The firm's quarterly revenue was up 2.1% compared to the same quarter last year. Equities analysts forecast that Simon Property Group, Inc. will post 12.54 EPS for the current year.

Simon Property Group Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Monday, June 30th. Investors of record on Monday, June 9th will be issued a dividend of $2.10 per share. This represents a $8.40 annualized dividend and a dividend yield of 5.10%. The ex-dividend date is Monday, June 9th. Simon Property Group's dividend payout ratio is currently 115.70%.

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.