Simon Property Group, Inc. (NYSE:SPG) Shares Purchased by Exchange Traded Concepts LLC

Exchange Traded Concepts LLC boosted its stake in Simon Property Group, Inc. (NYSE:SPG - Free Report) by 27.1% in the first quarter, according to the company in its most recent disclosure with the SEC. The firm owned 69,465 shares of the real estate investment trust's stock after purchasing 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 filing with the SEC.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Pitcairn Co. increased its holdings in shares of Simon Property Group by 0.6% during the 4th quarter. Pitcairn Co. now owns 9,895 shares of the real estate investment trust's stock worth $1,704,000 after buying an additional 55 shares during the last quarter. Colonial Trust Co SC increased its stake in Simon Property Group by 37.5% during the fourth quarter. Colonial Trust Co SC now owns 209 shares of the real estate investment trust's stock worth $36,000 after acquiring an additional 57 shares during the last quarter. HighPoint Advisor Group LLC raised its holdings in shares of Simon Property Group by 1.8% in the 4th quarter. HighPoint Advisor Group LLC now owns 3,396 shares of the real estate investment trust's stock worth $626,000 after purchasing an additional 60 shares during the period. Financial Management Network Inc. lifted its stake in shares of Simon Property Group by 0.4% in the 4th quarter. Financial Management Network Inc. now owns 15,147 shares of the real estate investment trust's stock valued at $2,667,000 after purchasing an additional 67 shares in the last quarter. Finally, Vestmark Advisory Solutions Inc. increased its position in Simon Property Group by 1.4% during the 4th quarter. Vestmark Advisory Solutions Inc. now owns 5,015 shares of the real estate investment trust's stock worth $864,000 after purchasing an additional 70 shares in the last quarter. Institutional investors and hedge funds own 93.01% of the company's stock.

Simon Property Group Stock Down 0.1%

Shares of NYSE:SPG traded down $0.16 during midday trading on Thursday, reaching $156.97. The company had a trading volume of 1,476,013 shares, compared to its average volume of 1,546,178. The stock has a market capitalization of $51.24 billion, a P/E ratio of 25.00, a PEG ratio of 8.76 and a beta of 1.47. The stock's fifty day moving average price is $158.31 and its 200-day moving average price is $168.00. The company has a debt-to-equity ratio of 8.29, a current ratio of 1.45 and a quick ratio of 1.45. Simon Property Group, Inc. has a one year low of $136.34 and a one year high of $190.14.

Simon Property Group (NYSE:SPG - Get Free Report) last released its earnings results 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 35.98% and a return on equity of 67.32%. The company had revenue of $1.47 billion during the quarter, compared to the consensus estimate of $1.34 billion. During the same quarter in the previous year, the firm earned $3.56 EPS. The company's revenue was up 2.1% on a year-over-year basis. Equities research analysts expect that Simon Property Group, Inc. will post 12.54 earnings per share for the current fiscal year.

Simon Property Group Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, June 30th. Shareholders of record on Monday, June 9th will be issued a $2.10 dividend. This represents a $8.40 dividend on an annualized basis and a yield of 5.35%. The ex-dividend date of this dividend is Monday, June 9th. Simon Property Group's dividend payout ratio is presently 133.76%.

Analysts Set New Price Targets

A number of research analysts have weighed in on SPG shares. Stifel Nicolaus lifted their price target on shares of Simon Property Group from $168.50 to $180.00 and gave the company a "buy" rating in a research report on Tuesday, May 13th. Scotiabank upped their price target 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. Wall Street Zen downgraded Simon Property Group from a "buy" rating to a "hold" rating in a report on Saturday, March 29th. Piper Sandler lowered their target price on 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. Finally, Mizuho reduced their price target on 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. Six analysts have rated the stock with a hold rating and four have given a buy rating to the company's stock. According to data from MarketBeat.com, the stock presently has a consensus rating of "Hold" and a consensus target price of $179.44.

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.