Astoria Portfolio Advisors LLC. Acquires Shares of 1,712 Simon Property Group, Inc. (NYSE:SPG)

Astoria Portfolio Advisors LLC. acquired a new position in Simon Property Group, Inc. (NYSE:SPG - Free Report) during the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm acquired 1,712 shares of the real estate investment trust's stock, valued at approximately $262,000.

A number of other large investors have also recently made changes to their positions in the stock. Hopwood Financial Services Inc. purchased a new stake in Simon Property Group in the 4th quarter worth $28,000. Caisse Des Depots ET Consignations bought a new position in shares of Simon Property Group in the fourth quarter worth about $31,000. Continuum Advisory LLC boosted its stake in shares of Simon Property Group by 421.6% in the first quarter. Continuum Advisory LLC now owns 193 shares of the real estate investment trust's stock worth $32,000 after acquiring an additional 156 shares during the period. TCTC Holdings LLC purchased a new stake in shares of Simon Property Group during the fourth quarter worth about $34,000. Finally, Colonial Trust Co SC raised its stake in Simon Property Group by 37.5% during the 4th quarter. Colonial Trust Co SC now owns 209 shares of the real estate investment trust's stock valued at $36,000 after purchasing an additional 57 shares during the period. 93.01% of the stock is owned by hedge funds and other institutional investors.

Simon Property Group Trading Up 0.4%

SPG traded up $0.63 on Thursday, hitting $166.47. The company had a trading volume of 925,334 shares, compared to its average volume of 1,541,335. The business's fifty day simple moving average is $160.46 and its 200 day simple moving average is $166.61. The company has a quick ratio of 1.45, a current ratio of 1.45 and a debt-to-equity ratio of 8.29. 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 $54.34 billion, a PE ratio of 26.51, a PEG ratio of 9.25 and a beta of 1.43.

Simon Property Group (NYSE:SPG - Get Free Report) last posted its quarterly earnings data on Monday, May 12th. The real estate investment trust reported $2.95 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.91 by $0.04. The business had revenue of $1.47 billion during the quarter, compared to analyst estimates of $1.34 billion. Simon Property Group had a return on equity of 67.32% and a net margin of 35.98%. The company's revenue for the quarter was up 2.1% on a year-over-year basis. During the same period last year, the company earned $3.56 EPS. Equities research 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 disclosed a quarterly dividend, which was paid on Monday, June 30th. Shareholders of record on Monday, June 9th were given a dividend of $2.10 per share. This represents a $8.40 dividend on an annualized basis and a yield of 5.05%. The ex-dividend date of this dividend was Monday, June 9th. Simon Property Group's dividend payout ratio (DPR) is 133.76%.

Insiders Place Their Bets

In other Simon Property Group news, Director Glyn Aeppel bought 234 shares of the business's stock in a transaction dated Monday, June 30th. The shares were purchased at an average price of $159.29 per share, with a total value of $37,273.86. Following the completion of the purchase, the director owned 19,057 shares in the company, valued at $3,035,589.53. This represents a 1.24% increase in their position. The purchase was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, Director Gary M. Rodkin purchased 246 shares of Simon Property Group stock in a transaction dated Monday, June 30th. The stock was acquired at an average price of $159.29 per share, for a total transaction of $39,185.34. Following the completion of the acquisition, the director owned 19,010 shares of the company's stock, valued at approximately $3,028,102.90. This trade represents a 1.31% increase in their position. The disclosure for this purchase can be found here. In the last quarter, insiders have bought 2,386 shares of company stock valued at $380,066. 8.66% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

SPG has been the subject of several recent analyst reports. Wall Street Zen downgraded Simon Property Group from a "buy" rating to a "hold" rating in a research note on Saturday, March 29th. Scotiabank boosted their target price on shares of Simon Property Group from $159.00 to $163.00 and gave the stock a "sector perform" rating in a report on Tuesday, June 17th. Barclays assumed coverage on shares of Simon Property Group in a research note on Wednesday. They set an "equal weight" rating and a $170.00 target price for the company. Piper Sandler reduced their price target on shares of Simon Property Group from $205.00 to $200.00 and set an "overweight" rating on the stock in a report on Friday, May 23rd. Finally, JPMorgan Chase & Co. decreased their price target on shares of 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. Seven equities research analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. According to data from MarketBeat.com, Simon Property Group currently has a consensus rating of "Hold" and an average target price of $178.50.

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.