Envestnet Asset Management Inc. Has $52.95 Million Holdings in Simon Property Group, Inc. (NYSE:SPG)

Envestnet Asset Management Inc. grew its stake in Simon Property Group, Inc. (NYSE:SPG - Free Report) by 7.1% in the 1st quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 318,803 shares of the real estate investment trust's stock after buying an additional 21,227 shares during the quarter. Envestnet Asset Management Inc. owned 0.10% of Simon Property Group worth $52,947,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Caisse Des Depots ET Consignations acquired a new position in shares of Simon Property Group in the fourth quarter valued at approximately $31,000. Continuum Advisory LLC lifted 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 purchasing an additional 156 shares in the last quarter. TCTC Holdings LLC bought a new stake in shares of Simon Property Group in the fourth quarter worth $34,000. Colonial Trust Co SC lifted 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 purchasing an additional 57 shares in the last quarter. Finally, AdvisorNet Financial Inc lifted its position in shares of Simon Property Group by 77.2% in the first quarter. AdvisorNet Financial Inc now owns 218 shares of the real estate investment trust's stock worth $36,000 after purchasing an additional 95 shares in the last quarter. Institutional investors and hedge funds own 93.01% of the company's stock.

Simon Property Group Stock Performance

NYSE SPG opened at $161.69 on Friday. The firm has a market capitalization of $52.78 billion, a P/E ratio of 25.75, a price-to-earnings-growth ratio of 9.02 and a beta of 1.43. The firm's fifty day moving average price is $161.31 and its two-hundred day moving average price is $166.08. Simon Property Group, Inc. has a 1 year low of $136.34 and a 1 year high of $190.14. 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 issued its quarterly earnings data on Monday, May 12th. The real estate investment trust reported $2.95 earnings per share for the quarter, beating the consensus estimate of $2.91 by $0.04. The company had revenue of $1.47 billion for the quarter, compared to analyst estimates of $1.34 billion. Simon Property Group had a net margin of 35.98% and a return on equity of 67.32%. The company's revenue was up 2.1% on a year-over-year basis. During the same period in the prior year, the firm earned $3.56 earnings per share. 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 business also recently disclosed a quarterly dividend, which was paid on Monday, June 30th. Stockholders of record on Monday, June 9th were given a $2.10 dividend. This represents a $8.40 annualized dividend and a dividend yield of 5.20%. The ex-dividend date was Monday, June 9th. Simon Property Group's payout ratio is presently 133.76%.

Insider Buying and Selling

In other Simon Property Group news, Director Reuben S. Leibowitz purchased 522 shares of the firm's stock in a transaction that occurred on Monday, June 30th. The shares were acquired at an average cost of $159.29 per share, for a total transaction of $83,149.38. Following the completion of the purchase, the director owned 58,195 shares of the company's stock, valued at approximately $9,269,881.55. The trade was a 0.91% increase in their position. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Daniel C. Smith purchased 378 shares of the firm's stock in a transaction that occurred on Monday, June 30th. The stock was acquired at an average price of $159.29 per share, for a total transaction of $60,211.62. Following the completion of the purchase, the director directly owned 31,998 shares of the company's stock, valued at $5,096,961.42. This represents a 1.20% increase in their position. The disclosure for this purchase can be found here. Over the last three months, insiders purchased 2,386 shares of company stock valued at $380,066. 8.66% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

A number of analysts have recently commented on SPG shares. Mizuho cut their price objective on shares of Simon Property Group from $182.00 to $169.00 and set a "neutral" rating on the stock in a research report on Tuesday, June 10th. Stifel Nicolaus boosted their price objective on shares of Simon Property Group from $168.50 to $180.00 and gave the stock a "buy" rating in a research report on Tuesday, May 13th. Piper Sandler cut their price objective on shares of 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. JPMorgan Chase & Co. cut 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 research report on Thursday, May 22nd. Finally, Scotiabank boosted their price objective on shares of Simon Property Group from $159.00 to $163.00 and gave the stock a "sector perform" rating in a research report on Tuesday, June 17th. Seven analysts have rated the stock with a hold rating and four have given a buy rating to the company's stock. According to MarketBeat, Simon Property Group presently has a consensus rating of "Hold" and a consensus price target of $178.50.

Simon Property Group Company 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.

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