Bogart Wealth LLC Buys 41,071 Shares of Simon Property Group, Inc. (NYSE:SPG)

Bogart Wealth LLC lifted its stake in Simon Property Group, Inc. (NYSE:SPG - Free Report) by 17,934.9% in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 41,300 shares of the real estate investment trust's stock after acquiring an additional 41,071 shares during the period. Bogart Wealth LLC's holdings in Simon Property Group were worth $6,859,000 at the end of the most recent reporting period.

Other large investors have also recently made changes to their positions in the company. Park Square Financial Group LLC boosted its holdings in shares of Simon Property Group by 108.0% in the first quarter. Park Square Financial Group LLC now owns 156 shares of the real estate investment trust's stock worth $26,000 after acquiring an additional 81 shares during the period. Caisse Des Depots ET Consignations purchased a new stake in shares of Simon Property Group in the fourth quarter worth $31,000. Continuum Advisory LLC raised its position 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 buying an additional 156 shares in the last quarter. TCTC Holdings LLC purchased a new stake in shares of Simon Property Group in the fourth quarter worth $34,000. Finally, Colonial Trust Co SC raised its position in shares of Simon Property Group by 37.5% in the fourth quarter. Colonial Trust Co SC now owns 209 shares of the real estate investment trust's stock worth $36,000 after buying an additional 57 shares in the last quarter. 93.01% of the stock is owned by institutional investors.

Simon Property Group Stock Down 1.1%

SPG opened at $161.69 on Monday. The company has a market cap of $52.78 billion, a P/E ratio of 25.75, a P/E/G ratio of 9.02 and a beta of 1.43. The business's 50-day moving average price is $161.31 and its 200-day moving average price is $166.03. 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, Inc. has a 12 month low of $136.34 and a 12 month high of $190.14.

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 EPS for the quarter, topping the consensus estimate of $2.91 by $0.04. The firm had revenue of $1.47 billion for 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 company's quarterly revenue was up 2.1% on a year-over-year basis. During the same quarter in the previous year, the business earned $3.56 earnings per share. On average, equities analysts expect that Simon Property Group, Inc. will post 12.54 EPS for the current year.

Simon Property Group Dividend Announcement

The firm also recently declared 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. The ex-dividend date was Monday, June 9th. This represents a $8.40 dividend on an annualized basis and a yield of 5.20%. Simon Property Group's dividend payout ratio is presently 133.76%.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently issued reports on SPG shares. Piper Sandler lowered their price objective on 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. Stifel Nicolaus increased their price objective on Simon Property Group from $168.50 to $180.00 and gave the stock a "buy" rating in a research report on Tuesday, May 13th. Wall Street Zen downgraded Simon Property Group from a "buy" rating to a "hold" rating in a research report on Saturday, March 29th. Barclays started coverage on Simon Property Group in a research report on Wednesday, July 2nd. They set an "equal weight" rating and a $170.00 price target on the stock. Finally, Scotiabank raised their price target on Simon Property Group from $159.00 to $163.00 and gave the company a "sector perform" rating in a research report on Tuesday, June 17th. Seven investment analysts have rated the stock with a hold rating and four have assigned a buy rating to the company's stock. According to MarketBeat.com, Simon Property Group currently has a consensus rating of "Hold" and a consensus price target of $178.50.

Insider Activity at Simon Property Group

In other Simon Property Group news, Director Reuben S. Leibowitz purchased 522 shares of Simon Property Group stock in a transaction that occurred on Monday, June 30th. The shares were bought at an average price of $159.29 per share, for a total transaction of $83,149.38. Following the acquisition, the director directly owned 58,195 shares in the company, valued at approximately $9,269,881.55. This trade represents a 0.91% increase in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, Director Larry C. Glasscock purchased 396 shares of Simon Property Group stock in a transaction that occurred on Monday, June 30th. The shares were acquired at an average price of $159.29 per share, for a total transaction of $63,078.84. Following the acquisition, the director owned 43,185 shares in the company, valued at $6,878,938.65. This trade represents a 0.93% increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders have bought 2,386 shares of company stock worth $380,066 over the last 90 days. 8.60% of the stock is owned by 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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.