Avantax Advisory Services Inc. Acquires 4,691 Shares of Simon Property Group, Inc. (NYSE:SPG)

Avantax Advisory Services Inc. boosted its stake in Simon Property Group, Inc. (NYSE:SPG - Free Report) by 32.3% during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 19,195 shares of the real estate investment trust's stock after purchasing an additional 4,691 shares during the period. Avantax Advisory Services Inc.'s holdings in Simon Property Group were worth $3,188,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Park Square Financial Group LLC increased its holdings in Simon Property Group by 108.0% during the 1st quarter. Park Square Financial Group LLC now owns 156 shares of the real estate investment trust's stock valued at $26,000 after purchasing an additional 81 shares during the period. Richardson Financial Services Inc. grew its stake in Simon Property Group by 185.0% in the first quarter. Richardson Financial Services Inc. now owns 171 shares of the real estate investment trust's stock worth $28,000 after purchasing an additional 111 shares during the period. Continuum Advisory LLC raised its holdings in 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 purchasing an additional 156 shares in the last quarter. Colonial Trust Co SC boosted its holdings in shares of 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 buying an additional 57 shares in the last quarter. Finally, AdvisorNet Financial Inc increased its position in Simon Property Group by 77.2% during the 1st quarter. AdvisorNet Financial Inc now owns 218 shares of the real estate investment trust's stock valued at $36,000 after buying an additional 95 shares in the last quarter. Institutional investors own 93.01% of the company's stock.

Analyst Ratings Changes

SPG has been the subject of several recent analyst reports. Mizuho decreased their price target on Simon Property Group from $182.00 to $169.00 and set a "neutral" rating for the company in a research note on Tuesday, June 10th. JPMorgan Chase & Co. decreased their target price on Simon Property Group from $192.00 to $180.00 and set a "neutral" rating for the company in a research report on Thursday, May 22nd. Barclays started coverage on shares of Simon Property Group in a report on Wednesday, July 2nd. They set an "equal weight" rating and a $170.00 price target on the stock. Scotiabank boosted their price objective on shares of Simon Property Group from $159.00 to $163.00 and gave the company a "sector perform" rating in a report on Tuesday, June 17th. Finally, LADENBURG THALM/SH SH started coverage on shares of Simon Property Group in a report on Friday, July 18th. They issued a "buy" rating and a $225.00 target price on the stock. Seven analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. Based on data from MarketBeat.com, Simon Property Group currently has a consensus rating of "Hold" and a consensus target price of $182.73.

Insider Activity

In other Simon Property Group news, Director Daniel C. Smith purchased 378 shares of the stock in a transaction dated Monday, June 30th. The shares were acquired at an average cost of $159.29 per share, for a total transaction of $60,211.62. Following the completion of the transaction, the director directly owned 31,998 shares of the company's stock, valued at $5,096,961.42. This trade represents a 1.20% increase in their ownership of the stock. The purchase was disclosed in a filing with the SEC, which is available through this hyperlink. Also, Director Glyn Aeppel acquired 234 shares of the business's stock in a transaction dated Monday, June 30th. The stock was purchased at an average price of $159.29 per share, for a total transaction of $37,273.86. Following the completion of the acquisition, the director owned 19,057 shares in the company, valued at approximately $3,035,589.53. This trade represents a 1.24% increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders have acquired a total of 2,386 shares of company stock valued at $380,066 over the last three months. 8.66% of the stock is currently owned by corporate insiders.

Simon Property Group Price Performance

Shares of Simon Property Group stock traded down $2.50 during trading hours on Friday, reaching $161.30. The stock had a trading volume of 879,017 shares, compared to its average volume of 1,621,776. Simon Property Group, Inc. has a twelve month low of $136.34 and a twelve month high of $190.13. The stock's 50 day moving average is $161.81 and its 200 day moving average is $165.26. The company has a current ratio of 1.45, a quick ratio of 1.45 and a debt-to-equity ratio of 8.29. The firm has a market capitalization of $52.65 billion, a PE ratio of 25.68, a PEG ratio of 11.17 and a beta of 1.43.

Simon Property Group (NYSE:SPG - Get Free Report) last released its quarterly 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. Simon Property Group had a return on equity of 67.32% and a net margin of 35.98%. The business had revenue of $1.47 billion during the quarter, compared to analysts' expectations of $1.34 billion. During the same period in the prior year, the business posted $3.56 EPS. The company's revenue was up 2.1% compared to the same quarter last year. Equities analysts expect that Simon Property Group, Inc. will post 12.54 earnings per share for the current fiscal year.

Simon Property Group Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, June 30th. Investors of record on Monday, June 9th were issued a dividend of $2.10 per share. This represents a $8.40 dividend on an annualized basis and a yield of 5.2%. The ex-dividend date of this dividend was Monday, June 9th. Simon Property Group's dividend payout ratio is currently 133.76%.

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.