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

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

Several other institutional investors have also recently bought and sold shares of the company. Hopwood Financial Services Inc. bought a new position in shares of Simon Property Group in the fourth quarter worth about $28,000. WR Wealth Planners LLC increased its stake in shares of 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 worth $29,000 after purchasing an additional 128 shares during the period. New England Capital Financial Advisors LLC bought a new position in shares of Simon Property Group in the fourth quarter worth about $30,000. Caisse Des Depots ET Consignations bought a new position in Simon Property Group in the 4th quarter worth approximately $31,000. Finally, TCTC Holdings LLC bought a new position in Simon Property Group in the 4th quarter worth approximately $34,000. Institutional investors own 93.01% of the company's stock.

Simon Property Group Price Performance

NYSE SPG traded up $0.93 on Wednesday, reaching $161.14. The company's stock had a trading volume of 1,488,387 shares, compared to its average volume of 1,544,888. The firm has a market cap of $52.60 billion, a PE ratio of 22.20, a price-to-earnings-growth ratio of 10.10 and a beta of 1.43. The business has a 50-day moving average price of $157.50 and a 200 day moving average price of $170.23. Simon Property Group, Inc. has a 52 week low of $136.34 and a 52 week high of $190.14. The company has a current ratio of 1.28, a quick ratio of 2.00 and a debt-to-equity ratio of 7.19.

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

Simon Property Group Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, June 30th. Stockholders of record on Monday, June 9th will be issued a $2.10 dividend. This represents a $8.40 annualized dividend and a dividend yield of 5.21%. The ex-dividend date of this dividend is Monday, June 9th. Simon Property Group's payout ratio is 133.76%.

Wall Street Analysts Forecast Growth

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