Hennion & Walsh Asset Management Inc. Purchases 1,797 Shares of Simon Property Group, Inc. (NYSE:SPG)

Hennion & Walsh Asset Management Inc. grew its position in shares of Simon Property Group, Inc. (NYSE:SPG - Free Report) by 21.6% in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 10,106 shares of the real estate investment trust's stock after purchasing an additional 1,797 shares during the period. Hennion & Walsh Asset Management Inc.'s holdings in Simon Property Group were worth $1,678,000 at the end of the most recent quarter.

A number of other hedge funds have also recently made changes to their positions in the company. Pitcairn Co. grew its position 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 valued at $1,704,000 after purchasing an additional 55 shares in the last quarter. Colonial Trust Co SC grew its position in shares of 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 valued at $36,000 after purchasing an additional 57 shares in the last quarter. Global X Japan Co. Ltd. grew its position in shares of Simon Property Group by 9.9% during the 4th quarter. Global X Japan Co. Ltd. now owns 655 shares of the real estate investment trust's stock valued at $113,000 after purchasing an additional 59 shares in the last quarter. HighPoint Advisor Group LLC grew its position 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 worth $626,000 after acquiring an additional 60 shares in the last quarter. Finally, Bleakley Financial Group LLC grew its position in Simon Property Group by 1.0% in the fourth quarter. Bleakley Financial Group LLC now owns 6,237 shares of the real estate investment trust's stock worth $1,074,000 after acquiring an additional 62 shares in the last quarter. 93.01% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several brokerages recently issued reports on SPG. Wall Street Zen lowered shares of Simon Property Group from a "buy" rating to a "hold" rating in a research report on Saturday, March 29th. 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 report on Tuesday, May 13th. Scotiabank cut 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 report on Wednesday, April 23rd. Piper Sandler cut their target price on shares of Simon Property Group from $205.00 to $200.00 and set an "overweight" rating for the company in a research report on Friday, May 23rd. Finally, JPMorgan Chase & Co. cut 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 report on Thursday, May 22nd. Six analysts have rated the stock with a hold rating and five have issued a buy rating to the company's stock. Based on data from MarketBeat, the company currently has a consensus rating of "Hold" and a consensus price target of $179.20.

Simon Property Group Trading Up 0.9%

Simon Property Group stock traded up $1.44 during mid-day trading on Friday, hitting $162.19. The company's stock had a trading volume of 1,303,749 shares, compared to its average volume of 1,547,578. The company has a debt-to-equity ratio of 7.19, a current ratio of 1.28 and a quick ratio of 2.00. The stock has a market cap of $52.94 billion, a price-to-earnings ratio of 22.34, a price-to-earnings-growth ratio of 10.10 and a beta of 1.47. The business has a 50 day moving average price of $156.92 and a 200-day moving average price of $169.31. Simon Property Group, Inc. has a 12 month low of $136.34 and a 12 month high of $190.14.

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 EPS for the quarter, beating the consensus estimate of $2.91 by $0.04. The firm 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% compared to the same quarter last year. During the same period in the prior year, the firm posted $3.56 earnings per share. As a group, analysts forecast that Simon Property Group, Inc. will post 12.54 EPS for the current year.

Simon Property Group Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, June 30th. Stockholders of record on Monday, June 9th will be paid a dividend of $2.10 per share. This represents a $8.40 annualized dividend and a dividend yield of 5.18%. The ex-dividend date of this dividend is Monday, June 9th. Simon Property Group's dividend payout ratio (DPR) is 133.76%.

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.