Insigneo Advisory Services LLC Purchases 2,416 Shares of Simon Property Group, Inc. (NYSE:SPG)

Insigneo Advisory Services LLC boosted its holdings in shares of Simon Property Group, Inc. (NYSE:SPG - Free Report) by 96.9% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 4,910 shares of the real estate investment trust's stock after buying an additional 2,416 shares during the period. Insigneo Advisory Services LLC's holdings in Simon Property Group were worth $815,000 as of its most recent SEC filing.

Several other institutional investors have also recently bought and sold shares of SPG. Norges Bank bought a new stake in shares of Simon Property Group during the fourth quarter worth about $2,059,505,000. Northern Trust Corp boosted its stake in Simon Property Group by 45.9% during the 4th quarter. Northern Trust Corp now owns 5,462,856 shares of the real estate investment trust's stock valued at $940,758,000 after purchasing an additional 1,718,398 shares during the last quarter. Resolution Capital Ltd bought a new stake in Simon Property Group during the 4th quarter worth approximately $212,592,000. GAMMA Investing LLC raised its stake in shares of 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 last quarter. Finally, Capital World Investors purchased a new stake in shares of Simon Property Group in the fourth quarter worth approximately $119,777,000. Institutional investors and hedge funds own 93.01% of the company's stock.

Analyst Upgrades and Downgrades

Several equities research analysts recently issued reports on SPG shares. JPMorgan Chase & Co. decreased their price target on Simon Property Group from $192.00 to $180.00 and set a "neutral" rating for the company in a report on Thursday, May 22nd. Piper Sandler cut their price objective 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. Scotiabank upped their target price on shares of Simon Property Group from $159.00 to $163.00 and gave the stock a "sector perform" rating in a research note on Tuesday. 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 report on Tuesday, June 10th. Finally, Wall Street Zen cut shares of Simon Property Group from a "buy" rating to a "hold" rating in a report on Saturday, March 29th. Six analysts have rated the stock with a hold rating and four have issued a buy rating to the company's stock. According to data from MarketBeat.com, the stock currently has a consensus rating of "Hold" and a consensus price target of $179.44.

Simon Property Group Stock Performance

Shares of Simon Property Group stock traded down $0.16 during trading hours on Wednesday, hitting $156.97. 1,476,013 shares of the company's stock traded hands, compared to its average volume of 1,544,571. The stock has a market capitalization of $51.24 billion, a price-to-earnings ratio of 25.00, a PEG ratio of 8.79 and a beta of 1.47. Simon Property Group, Inc. has a 12-month low of $136.34 and a 12-month high of $190.14. The company has a debt-to-equity ratio of 8.29, a current ratio of 1.45 and a quick ratio of 1.45. The company has a fifty day simple moving average of $158.24 and a 200-day simple moving average of $168.08.

Simon Property Group (NYSE:SPG - Get Free Report) last posted its quarterly earnings results on Monday, May 12th. The real estate investment trust reported $2.95 earnings per share for the quarter, beating the consensus estimate of $2.91 by $0.04. The company had revenue of $1.47 billion during the quarter, compared to analyst estimates of $1.34 billion. Simon Property Group had a net margin of 35.98% and a return on equity of 67.32%. The firm's revenue for the quarter was up 2.1% on a year-over-year basis. During the same quarter in the prior year, the business earned $3.56 earnings per share. Equities research analysts anticipate that Simon Property Group, Inc. will post 12.54 EPS for the current fiscal year.

Simon Property Group Announces Dividend

The business 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 $2.10 dividend. The ex-dividend date is Monday, June 9th. This represents a $8.40 dividend on an annualized basis and a dividend yield of 5.35%. Simon Property Group's dividend payout ratio (DPR) is presently 133.76%.

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.