Greystone Financial Group LLC Acquires 6,289 Shares of Simon Property Group, Inc. (NYSE:SPG)

Greystone Financial Group LLC raised its holdings in Simon Property Group, Inc. (NYSE:SPG - Free Report) by 15.6% during the first quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 46,587 shares of the real estate investment trust's stock after acquiring an additional 6,289 shares during the quarter. Greystone Financial Group LLC's holdings in Simon Property Group were worth $7,737,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Norges Bank acquired a new stake in Simon Property Group in the fourth quarter worth $2,059,505,000. Northern Trust Corp raised its holdings in Simon Property Group by 45.9% in the fourth quarter. Northern Trust Corp now owns 5,462,856 shares of the real estate investment trust's stock worth $940,758,000 after purchasing an additional 1,718,398 shares during the period. Resolution Capital Ltd acquired a new stake in Simon Property Group in the fourth quarter worth $212,592,000. GAMMA Investing LLC raised its holdings in Simon Property Group by 16,346.0% in the first quarter. GAMMA Investing LLC now owns 876,736 shares of the real estate investment trust's stock worth $145,608,000 after purchasing an additional 871,405 shares during the period. Finally, Capital World Investors acquired a new stake in Simon Property Group in the fourth quarter worth $119,777,000. 93.01% of the stock is owned by institutional investors.

Simon Property Group Stock Down 0.8%

SPG stock traded down $1.27 during midday trading on Wednesday, hitting $159.62. The company's stock had a trading volume of 1,484,525 shares, compared to its average volume of 1,539,262. The company has a debt-to-equity ratio of 7.19, a current ratio of 1.28 and a quick ratio of 2.00. Simon Property Group, Inc. has a twelve month low of $136.34 and a twelve month high of $190.14. The company's fifty day moving average price is $157.15 and its 200 day moving average price is $168.88. The stock has a market capitalization of $52.10 billion, a P/E ratio of 21.99, a PEG ratio of 10.10 and a beta of 1.47.

Simon Property Group (NYSE:SPG - Get Free Report) last issued its quarterly earnings results on Monday, May 12th. The real estate investment trust reported $2.95 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.91 by $0.04. Simon Property Group had a net margin of 41.49% and a return on equity of 74.02%. The firm had revenue of $1.47 billion for the quarter, compared to analyst estimates of $1.34 billion. During the same period in the previous year, the business earned $3.56 EPS. The company's revenue was up 2.1% compared to the same quarter last year. As a group, equities research analysts predict that Simon Property Group, Inc. will post 12.54 EPS for the current year.

Simon Property Group Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, June 30th. Investors of record on Monday, June 9th will be issued a dividend of $2.10 per share. This represents a $8.40 dividend on an annualized basis and a yield of 5.26%. The ex-dividend date of this dividend is Monday, June 9th. Simon Property Group's payout ratio is currently 133.76%.

Analyst Ratings Changes

A number of brokerages recently weighed in on SPG. Wall Street Zen lowered shares of Simon Property Group from a "buy" rating to a "hold" rating in a research note on Saturday, March 29th. Scotiabank reduced their target price on shares of Simon Property Group from $186.00 to $159.00 and set a "sector perform" rating for the company in a research note on Wednesday, April 23rd. JPMorgan Chase & Co. reduced 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. Mizuho reduced 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. Finally, Stifel Nicolaus upped their target price on shares of Simon Property Group from $168.50 to $180.00 and gave the stock a "buy" rating in a research note on Tuesday, May 13th. Six analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of "Hold" and a consensus target price of $177.90.

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.