Exchange Traded Concepts LLC Increases Position in Simon Property Group, Inc. (NYSE:SPG)

Exchange Traded Concepts LLC increased its stake in shares of Simon Property Group, Inc. (NYSE:SPG - Free Report) by 27.1% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 69,465 shares of the real estate investment trust's stock after buying an additional 14,829 shares during the quarter. Exchange Traded Concepts LLC's holdings in Simon Property Group were worth $11,537,000 as of its most recent SEC filing.

Other large investors have also recently made changes to their positions in the company. Hopwood Financial Services Inc. purchased a new stake in shares of Simon Property Group during the fourth quarter valued at $28,000. WR Wealth Planners LLC grew its holdings in shares of Simon Property Group by 328.2% during 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 purchased a new stake in shares of Simon Property Group during the fourth quarter valued at $30,000. Caisse Des Depots ET Consignations purchased a new stake in shares of Simon Property Group during the fourth quarter valued at $31,000. Finally, TCTC Holdings LLC purchased a new stake in shares of Simon Property Group during the fourth quarter valued at $34,000. 93.01% of the stock is owned by hedge funds and other institutional investors.

Simon Property Group Trading Down 1.3%

Shares of Simon Property Group stock opened at $156.67 on Monday. The firm has a 50-day simple moving average of $157.80 and a two-hundred day simple moving average of $168.33. The company has a market cap of $51.14 billion, a P/E ratio of 21.58, a price-to-earnings-growth ratio of 10.10 and a beta of 1.47. Simon Property Group, Inc. has a fifty-two week low of $136.34 and a fifty-two week high of $190.14. The company has a debt-to-equity ratio of 7.19, a quick ratio of 2.00 and a current ratio of 1.28.

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, topping analysts' consensus estimates of $2.91 by $0.04. The business had revenue of $1.47 billion during the quarter, compared to the consensus estimate of $1.34 billion. Simon Property Group had a net margin of 41.49% and a return on equity of 74.02%. The company's revenue was up 2.1% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $3.56 earnings per share. As a group, equities analysts predict that Simon Property Group, Inc. will post 12.54 earnings per share for the current fiscal year.

Simon Property Group Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, June 30th. Investors of record on Monday, June 9th will be given a dividend of $2.10 per share. The ex-dividend date of this dividend is Monday, June 9th. This represents a $8.40 annualized dividend and a dividend yield of 5.36%. Simon Property Group's dividend payout ratio (DPR) is presently 133.76%.

Wall Street Analysts Forecast Growth

SPG has been the topic of a number of research analyst reports. Scotiabank dropped their price objective on shares of Simon Property Group from $186.00 to $159.00 and set a "sector perform" rating on the stock in a report on Wednesday, April 23rd. Wall Street Zen lowered shares of Simon Property Group from a "buy" rating to a "hold" rating in a report on Saturday, March 29th. Stifel Nicolaus upped their price target on shares of Simon Property Group from $168.50 to $180.00 and gave the company a "buy" rating in a report on Tuesday, May 13th. JPMorgan Chase & Co. lowered their price target 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. Finally, Mizuho lowered their price target on shares of Simon Property Group from $182.00 to $169.00 and set a "neutral" rating on the stock in a report on Tuesday, June 10th. Six research analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. Based on data from MarketBeat, Simon Property Group currently has a consensus rating of "Hold" and a consensus target price of $179.00.

About Simon Property Group

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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