Baader Bank Aktiengesellschaft Purchases 1,976 Shares of Simon Property Group, Inc. (NYSE:SPG)

Key Points

• Baader Bank Aktiengesellschaft significantly increased its stake in Simon Property Group by 134.9%, owning 3,441 shares valued at $571,000 after acquiring an additional 1,976 shares during the first quarter.
• Analysts have mixed ratings on Simon Property Group, with target prices ranging from $169.00 to $225.00, and a consensus price target of $182.73.
• Simon Property Group declared a quarterly dividend of $2.10 per share, translating to an annualized yield of 5.07% and a payout ratio of 133.76%.

Baader Bank Aktiengesellschaft lifted its stake in shares of Simon Property Group, Inc. (NYSE:SPG - Free Report) by 134.9% in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 3,441 shares of the real estate investment trust's stock after purchasing an additional 1,976 shares during the quarter. Baader Bank Aktiengesellschaft's holdings in Simon Property Group were worth $571,000 at the end of the most recent quarter.

Several other hedge funds have also recently modified their holdings of SPG. Wellington Shields & Co. LLC increased its position in Simon Property Group by 3.6% during the 1st quarter. Wellington Shields & Co. LLC now owns 5,700 shares of the real estate investment trust's stock worth $947,000 after purchasing an additional 200 shares in the last quarter. Mesirow Financial Investment Management Inc. increased its position in Simon Property Group by 18.1% during the 1st quarter. Mesirow Financial Investment Management Inc. now owns 2,508 shares of the real estate investment trust's stock worth $417,000 after purchasing an additional 385 shares in the last quarter. Arkadios Wealth Advisors purchased a new stake in Simon Property Group during the 1st quarter worth about $397,000. Vestcor Inc increased its position in Simon Property Group by 27.5% during the 1st quarter. Vestcor Inc now owns 55,650 shares of the real estate investment trust's stock worth $9,242,000 after purchasing an additional 12,020 shares in the last quarter. Finally, XTX Topco Ltd increased its position in Simon Property Group by 96.8% during the 1st quarter. XTX Topco Ltd now owns 6,161 shares of the real estate investment trust's stock worth $1,023,000 after purchasing an additional 3,030 shares in the last quarter. 93.01% of the stock is owned by institutional investors and hedge funds.

Simon Property Group Price Performance

SPG stock traded down $3.12 during trading hours on Friday, hitting $160.67. 2,149,815 shares of the stock traded hands, compared to its average volume of 1,251,584. The stock has a 50-day simple moving average of $161.89 and a 200 day simple moving average of $165.17. Simon Property Group, Inc. has a one year low of $136.34 and a one year high of $190.13. The company has a market cap of $52.45 billion, a P/E ratio of 25.58, a P/E/G ratio of 11.06 and a beta of 1.49. The company has a current ratio of 1.45, a quick ratio of 1.45 and a debt-to-equity ratio of 8.29.

Simon Property Group (NYSE:SPG - Get Free Report) last announced its quarterly earnings data on Monday, May 12th. The real estate investment trust reported $2.95 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.91 by $0.04. The firm had revenue of $1.47 billion during the quarter, compared to the consensus estimate of $1.34 billion. Simon Property Group had a return on equity of 67.32% and a net margin of 35.98%. The business's revenue for the quarter was up 2.1% on a year-over-year basis. During the same period in the prior year, the business earned $3.56 EPS. Equities analysts forecast that Simon Property Group, Inc. will post 12.54 earnings per share for the current year.

Simon Property Group Announces Dividend

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

Analyst Ratings Changes

Several analysts have commented on SPG shares. Stifel Nicolaus lifted their price target on Simon Property Group from $168.50 to $180.00 and gave the company a "buy" rating in a report on Tuesday, May 13th. Barclays started coverage on Simon Property Group in a report on Wednesday, July 2nd. They issued an "equal weight" rating and a $170.00 price target for the company. Scotiabank lifted their price target on Simon Property Group from $159.00 to $163.00 and gave the company a "sector perform" rating in a report on Tuesday, June 17th. JPMorgan Chase & Co. lowered their price target on Simon Property Group from $192.00 to $180.00 and set a "neutral" rating for the company in a report on Thursday, May 22nd. Finally, LADENBURG THALM/SH SH started coverage on Simon Property Group in a report on Friday, July 18th. They issued a "buy" rating and a $225.00 price target for the company. Seven research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company's stock. According to data from MarketBeat, Simon Property Group has a consensus rating of "Hold" and an average price target of $182.73.

Insider Activity at Simon Property Group

In related news, Director Stefan M. Selig acquired 219 shares of the stock in a transaction dated Monday, June 30th. The shares were acquired at an average price of $159.29 per share, with a total value of $34,884.51. Following the acquisition, the director owned 31,881 shares in the company, valued at approximately $5,078,324.49. The trade was a 0.69% increase in their position. The purchase was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director Gary M. Rodkin bought 246 shares of the stock in a transaction on Monday, June 30th. The stock was acquired at an average cost of $159.29 per share, for a total transaction of $39,185.34. Following the acquisition, the director directly owned 19,010 shares in the company, valued at approximately $3,028,102.90. The trade was a 1.31% increase in their ownership of the stock. The disclosure for this purchase can be found here. Over the last three months, insiders bought 2,386 shares of company stock worth $380,066. 8.66% of the stock is currently owned by corporate insiders.

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.