Golden State Equity Partners Raises Stake in Simon Property Group, Inc. (NYSE:SPG)

Golden State Equity Partners raised its stake in Simon Property Group, Inc. (NYSE:SPG - Free Report) by 54.8% in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 8,389 shares of the real estate investment trust's stock after buying an additional 2,971 shares during the period. Golden State Equity Partners' holdings in Simon Property Group were worth $1,393,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors also recently added to or reduced their stakes in SPG. Hopwood Financial Services Inc. purchased a new stake in Simon Property Group in the 4th quarter valued at about $28,000. WR Wealth Planners LLC boosted 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 purchasing an additional 128 shares during the period. Caisse Des Depots ET Consignations purchased a new stake in shares of Simon Property Group in the fourth quarter valued at approximately $31,000. Continuum Advisory LLC lifted its holdings in shares of Simon Property Group by 421.6% in the 1st quarter. Continuum Advisory LLC now owns 193 shares of the real estate investment trust's stock worth $32,000 after buying an additional 156 shares during the period. Finally, TCTC Holdings LLC bought a new position in shares of Simon Property Group during the fourth quarter valued at approximately $34,000. 93.01% of the stock is owned by hedge funds and other institutional investors.

Simon Property Group Stock Up 0.6%

SPG stock opened at $160.08 on Wednesday. The firm has a 50 day moving average of $159.08 and a 200 day moving average of $167.25. The stock has a market capitalization of $52.25 billion, a PE ratio of 25.49, a price-to-earnings-growth ratio of 8.87 and a beta of 1.47. The company has a quick ratio of 1.45, a current ratio of 1.45 and a debt-to-equity ratio of 8.29. Simon Property Group, Inc. has a 52 week low of $136.34 and a 52 week 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 EPS for the quarter, topping analysts' consensus estimates 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 analysts' expectations of $1.34 billion. During the same period last year, the business earned $3.56 EPS. Simon Property Group's revenue for the quarter was up 2.1% on a year-over-year basis. Sell-side analysts forecast that Simon Property Group, Inc. will post 12.54 earnings per share for the current year.

Simon Property Group Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, June 30th. Shareholders of record on Monday, June 9th will be paid 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 yield of 5.25%. Simon Property Group's payout ratio is presently 133.76%.

Wall Street Analyst Weigh In

SPG has been the topic of several recent research reports. Wall Street Zen cut Simon Property Group from a "buy" rating to a "hold" rating in a research report on Saturday, March 29th. Stifel Nicolaus raised 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. Piper Sandler lowered their price target on shares of Simon Property Group from $205.00 to $200.00 and set an "overweight" rating on the stock in a report on Friday, May 23rd. JPMorgan Chase & Co. lowered their target price on shares of Simon Property Group from $192.00 to $180.00 and set a "neutral" rating for the company in a research note on Thursday, May 22nd. Finally, Mizuho lowered their target price on shares of Simon Property Group from $182.00 to $169.00 and set a "neutral" rating for the company in a research note on Tuesday, June 10th. Six investment analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. According to MarketBeat, Simon Property Group currently 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.

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