Douglas Lane & Associates LLC lessened its stake in Simon Property Group, Inc. (NYSE:SPG - Free Report) by 2.7% in the 1st quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 234,174 shares of the real estate investment trust's stock after selling 6,400 shares during the period. Douglas Lane & Associates LLC owned about 0.07% of Simon Property Group worth $38,892,000 at the end of the most recent reporting period.
A number of other institutional investors have also added to or reduced their stakes in the company. Hopwood Financial Services Inc. acquired a new position in Simon Property Group during the fourth quarter worth $28,000. WR Wealth Planners LLC raised its holdings 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 valued at $29,000 after buying an additional 128 shares during the last quarter. New England Capital Financial Advisors LLC acquired a new position in Simon Property Group during the 4th quarter worth about $30,000. Caisse Des Depots ET Consignations acquired a new position in Simon Property Group during the 4th quarter worth about $31,000. Finally, TCTC Holdings LLC bought a new stake in Simon Property Group during the 4th quarter worth about $34,000. 93.01% of the stock is owned by institutional investors and hedge funds.
Wall Street Analysts Forecast Growth
Several brokerages have recently commented on SPG. Scotiabank lowered their price target on shares of Simon Property Group from $186.00 to $159.00 and set a "sector perform" rating for the company in a research report on Wednesday, April 23rd. JPMorgan Chase & Co. dropped their price objective on shares of Simon Property Group from $192.00 to $180.00 and set a "neutral" rating on the stock in a report on Thursday, May 22nd. Piper Sandler decreased their price target on shares of Simon Property Group from $205.00 to $200.00 and set an "overweight" rating for the company in a research note on Friday, May 23rd. Stifel Nicolaus lifted their target price on Simon Property Group from $168.50 to $180.00 and gave the company a "buy" rating in a research report on Tuesday, May 13th. Finally, Wall Street Zen cut shares of Simon Property Group from a "buy" rating to a "hold" rating in a research note on Saturday, March 29th. Six investment analysts have rated the stock with a hold rating and five have given a buy rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of "Hold" and a consensus price target of $179.20.
Read Our Latest Stock Report on SPG
Simon Property Group Price Performance
Shares of NYSE:SPG remained flat at $161.62 during trading on Thursday. The stock had a trading volume of 426,984 shares, compared to its average volume of 1,679,322. The company has a market capitalization of $52.76 billion, a price-to-earnings ratio of 22.26, a PEG ratio of 10.10 and a beta of 1.43. Simon Property Group, Inc. has a 1 year low of $136.34 and a 1 year high of $190.13. The company has a debt-to-equity ratio of 7.19, a current ratio of 1.28 and a quick ratio of 2.00. The business's 50 day moving average price is $157.12 and its 200 day moving average price is $169.58.
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 for the quarter, topping the consensus estimate of $2.91 by $0.04. Simon Property Group had a net margin of 41.49% and a return on equity of 74.02%. The business had revenue of $1.47 billion during the quarter, compared to analysts' expectations of $1.34 billion. During the same quarter in the prior year, the business posted $3.56 earnings per share. Simon Property Group's revenue was up 2.1% compared to the same quarter last year. As a group, research analysts anticipate that Simon Property Group, Inc. will post 12.54 EPS for the current year.
Simon Property Group Dividend Announcement
The company also recently disclosed a quarterly dividend, which will be paid on Monday, June 30th. Investors of record on Monday, June 9th will be paid a $2.10 dividend. The ex-dividend date is 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 (DPR) is 133.76%.
About Simon Property Group
(
Free Report)
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.
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