Integrated Advisors Network LLC Decreases Stake in Simon Property Group, Inc. (NYSE:SPG)

Integrated Advisors Network LLC cut its position in Simon Property Group, Inc. (NYSE:SPG - Free Report) by 10.0% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The firm owned 18,861 shares of the real estate investment trust's stock after selling 2,106 shares during the period. Integrated Advisors Network LLC's holdings in Simon Property Group were worth $3,248,000 at the end of the most recent quarter.

Several other institutional investors have also recently modified their holdings of the company. SG Americas Securities LLC lifted its stake in Simon Property Group by 48.0% during the 4th quarter. SG Americas Securities LLC now owns 7,151 shares of the real estate investment trust's stock valued at $1,231,000 after acquiring an additional 2,320 shares during the period. Brighton Jones LLC purchased a new position in shares of Simon Property Group during the fourth quarter worth $295,000. CX Institutional acquired a new position in Simon Property Group during the fourth quarter valued at $233,000. Geneos Wealth Management Inc. purchased a new stake in Simon Property Group in the fourth quarter valued at $146,000. Finally, TTP Investments Inc. boosted its holdings in Simon Property Group by 67.4% in the fourth quarter. TTP Investments Inc. now owns 57,399 shares of the real estate investment trust's stock valued at $9,885,000 after purchasing an additional 23,109 shares during the last quarter. 93.01% of the stock is currently owned by hedge funds and other institutional investors.

Simon Property Group Price Performance

Shares of NYSE:SPG traded down $0.25 during midday trading on Friday, reaching $162.98. 3,546,174 shares of the company's stock traded hands, compared to its average volume of 1,553,685. Simon Property Group, Inc. has a 1 year low of $136.34 and a 1 year high of $190.14. The company has a market cap of $53.20 billion, a P/E ratio of 22.45, a PEG ratio of 10.10 and a beta of 1.43. The company has a debt-to-equity ratio of 7.19, a quick ratio of 2.00 and a current ratio of 1.28. The company has a fifty day simple moving average of $157.36 and a two-hundred day simple moving average of $169.87.

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 EPS for the quarter, topping 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 41.49% and a return on equity of 74.02%. The firm's revenue was up 2.1% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $3.56 EPS. Equities analysts predict 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 paid a $2.10 dividend. This represents a $8.40 dividend on an annualized basis and a yield of 5.15%. The ex-dividend date of this dividend is Monday, June 9th. Simon Property Group's dividend payout ratio is presently 133.76%.

Wall Street Analysts Forecast Growth

A number of research firms have weighed in on SPG. JPMorgan Chase & Co. reduced their price objective on 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. Scotiabank reduced their price target on 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. Stifel Nicolaus boosted their price target on 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 dropped 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 research note on Friday, May 23rd. Finally, Wall Street Zen lowered shares of Simon Property Group from a "buy" rating to a "hold" rating in a report on Saturday, March 29th. Six investment analysts have rated the stock with a hold rating and five have issued a buy rating to the company's stock. According to data from MarketBeat, the stock currently has a consensus rating of "Hold" and an average target price of $179.20.

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.