AlphaCore Capital LLC Invests $522,000 in Simon Property Group, Inc. (NYSE:SPG)

AlphaCore Capital LLC acquired a new position in shares of Simon Property Group, Inc. (NYSE:SPG - Free Report) in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm acquired 3,029 shares of the real estate investment trust's stock, valued at approximately $522,000.

Several other large investors also recently modified their holdings of SPG. Asset Management One Co. Ltd. grew its position in Simon Property Group by 0.7% in the 4th quarter. Asset Management One Co. Ltd. now owns 587,933 shares of the real estate investment trust's stock valued at $101,130,000 after purchasing an additional 3,990 shares during the period. Merit Financial Group LLC acquired a new stake in Simon Property Group in the 4th quarter valued at $416,000. SG Americas Securities LLC grew its position in Simon Property Group by 48.0% in the 4th quarter. SG Americas Securities LLC now owns 7,151 shares of the real estate investment trust's stock valued at $1,231,000 after purchasing an additional 2,320 shares during the period. Vert Asset Management LLC grew its position in Simon Property Group by 3.1% in the 4th quarter. Vert Asset Management LLC now owns 125,398 shares of the real estate investment trust's stock valued at $21,595,000 after purchasing an additional 3,783 shares during the period. Finally, TTP Investments Inc. grew its position in Simon Property Group by 67.4% in the 4th quarter. TTP Investments Inc. now owns 57,399 shares of the real estate investment trust's stock valued at $9,885,000 after purchasing an additional 23,109 shares during the period. Institutional investors and hedge funds own 93.01% of the company's stock.

Simon Property Group Stock Performance

Shares of NYSE SPG traded up $1.54 during mid-day trading on Thursday, reaching $162.75. 694,778 shares of the company's stock were exchanged, compared to its average volume of 1,542,999. The firm has a market capitalization of $53.13 billion, a price-to-earnings ratio of 22.43, a price-to-earnings-growth ratio of 10.10 and a beta of 1.43. Simon Property Group, Inc. has a 52 week low of $136.34 and a 52 week high of $190.14. The company has a debt-to-equity ratio of 7.19, a current ratio of 1.28 and a quick ratio of 2.00. The firm has a 50-day moving average price of $157.48 and a two-hundred day moving average price of $170.16.

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

Simon Property Group Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, June 30th. Shareholders of record on Monday, June 9th will be issued a dividend of $2.10 per share. This represents a $8.40 dividend on an annualized basis and a yield of 5.16%. The ex-dividend date of this dividend is Monday, June 9th. Simon Property Group's payout ratio is presently 133.76%.

Analyst Upgrades and Downgrades

Several analysts recently issued reports on the stock. Stifel Nicolaus lifted their price target on shares of Simon Property Group from $168.50 to $180.00 and gave the company a "buy" rating in a research report on Tuesday, May 13th. Scotiabank reduced their price target on shares of Simon Property Group from $186.00 to $159.00 and set a "sector perform" rating for the company in a research report on Wednesday, April 23rd. Wall Street Zen cut Simon Property Group from a "buy" rating to a "hold" rating in a research note on Saturday, March 29th. JPMorgan Chase & Co. dropped their price objective on Simon Property Group from $192.00 to $180.00 and set a "neutral" rating on the stock in a research note on Thursday, May 22nd. Finally, Piper Sandler dropped their price objective on Simon Property Group from $205.00 to $200.00 and set an "overweight" rating on the stock in a research note on Friday, May 23rd. Six research analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of "Hold" and a consensus price target of $179.20.

About Simon Property Group

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.