Fiduciary Alliance LLC Buys 7,648 Shares of Simon Property Group, Inc. (NYSE:SPG)

Fiduciary Alliance LLC raised its holdings in Simon Property Group, Inc. (NYSE:SPG - Free Report) by 36.0% during the first quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 28,864 shares of the real estate investment trust's stock after acquiring an additional 7,648 shares during the quarter. Fiduciary Alliance LLC's holdings in Simon Property Group were worth $4,794,000 as of its most recent SEC filing.

A number of other institutional investors have also recently bought and sold shares of SPG. Pitcairn Co. raised its holdings in Simon Property Group by 0.6% in the fourth quarter. Pitcairn Co. now owns 9,895 shares of the real estate investment trust's stock worth $1,704,000 after purchasing an additional 55 shares during the period. Colonial Trust Co SC raised its stake in Simon Property Group by 37.5% during the 4th 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 during the period. Childress Capital Advisors LLC raised its stake in Simon Property Group by 3.6% during the 4th quarter. Childress Capital Advisors LLC now owns 1,689 shares of the real estate investment trust's stock worth $291,000 after buying an additional 58 shares during the period. Global X Japan Co. Ltd. lifted its holdings in Simon Property Group by 9.9% during the fourth quarter. Global X Japan Co. Ltd. now owns 655 shares of the real estate investment trust's stock worth $113,000 after acquiring an additional 59 shares in the last quarter. Finally, HighPoint Advisor Group LLC grew its stake in Simon Property Group by 1.8% in the fourth quarter. HighPoint Advisor Group LLC now owns 3,396 shares of the real estate investment trust's stock valued at $626,000 after acquiring an additional 60 shares during the period. Institutional investors and hedge funds own 93.01% of the company's stock.

Wall Street Analyst Weigh In

A number of equities research analysts have recently commented on SPG shares. Wall Street Zen lowered Simon Property Group from a "buy" rating to a "hold" rating in a research report on Saturday, March 29th. JPMorgan Chase & Co. dropped their target price 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. 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 note on Tuesday, May 13th. Piper Sandler reduced 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 report on Friday, May 23rd. Finally, 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. Six analysts have rated the stock with a hold rating and five have given a buy rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of "Hold" and a consensus price target of $179.20.

Simon Property Group Stock Up 0.0%

Simon Property Group stock traded up $0.02 during mid-day trading on Wednesday, reaching $161.80. The company's stock had a trading volume of 942,933 shares, compared to its average volume of 1,687,191. 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, Inc. has a 12 month low of $136.34 and a 12 month high of $190.13. The business's 50 day simple moving average is $157.17 and its 200 day simple moving average is $169.64. The company has a market capitalization of $52.82 billion, a price-to-earnings ratio of 22.29, a price-to-earnings-growth ratio of 10.10 and a beta of 1.43.

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 EPS for the quarter, topping analysts' consensus estimates of $2.91 by $0.04. The company 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 quarterly revenue was up 2.1% on a year-over-year basis. During the same period in the prior year, the business posted $3.56 EPS. As a group, research analysts anticipate that Simon Property Group, Inc. will post 12.54 earnings per share for the current year.

Simon Property Group Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, June 30th. Stockholders of record on Monday, June 9th will be issued a $2.10 dividend. This represents a $8.40 annualized dividend and a dividend yield of 5.19%. The ex-dividend date of this dividend is Monday, June 9th. Simon Property Group's payout ratio is presently 133.76%.

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.