J.W. Cole Advisors Inc. Makes New Investment in Simon Property Group, Inc. (NYSE:SPG)

J.W. Cole Advisors Inc. acquired a new position in shares of Simon Property Group, Inc. (NYSE:SPG - Free Report) during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund acquired 5,388 shares of the real estate investment trust's stock, valued at approximately $895,000.

Other institutional investors also recently modified their holdings of the company. Pitcairn Co. grew its stake in Simon Property Group by 0.6% in the 4th quarter. Pitcairn Co. now owns 9,895 shares of the real estate investment trust's stock valued at $1,704,000 after buying an additional 55 shares during the last quarter. Colonial Trust Co SC grew its stake in Simon Property Group by 37.5% in the 4th quarter. Colonial Trust Co SC now owns 209 shares of the real estate investment trust's stock valued at $36,000 after buying an additional 57 shares during the last quarter. HighPoint Advisor Group LLC grew its stake in Simon Property Group by 1.8% in the 4th quarter. HighPoint Advisor Group LLC now owns 3,396 shares of the real estate investment trust's stock valued at $626,000 after buying an additional 60 shares during the last quarter. Sumitomo Life Insurance Co. grew its stake in Simon Property Group by 1.6% in the 1st quarter. Sumitomo Life Insurance Co. now owns 4,471 shares of the real estate investment trust's stock valued at $743,000 after buying an additional 70 shares during the last quarter. Finally, Aspiriant LLC grew its stake in Simon Property Group by 1.3% in the 1st quarter. Aspiriant LLC now owns 5,851 shares of the real estate investment trust's stock valued at $972,000 after buying an additional 74 shares during the last quarter. 93.01% of the stock is currently owned by institutional investors and hedge funds.

Simon Property Group Trading Up 1.2%

NYSE SPG traded up $2.03 on Friday, hitting $166.99. The company's stock had a trading volume of 1,374,659 shares, compared to its average volume of 1,349,636. 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 1-year low of $136.34 and a 1-year high of $190.13. The company's 50-day moving average is $161.43 and its 200 day moving average is $165.47. The firm has a market cap of $54.51 billion, a PE ratio of 26.59, a PEG ratio of 11.14 and a beta of 1.43.

Simon Property Group (NYSE:SPG - Get Free Report) last announced 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 35.98% and a return on equity of 67.32%. The firm had revenue of $1.47 billion during the quarter, compared to analysts' expectations of $1.34 billion. During the same period in the prior year, the company posted $3.56 EPS. The company's revenue was up 2.1% on a year-over-year basis. As a group, analysts predict that Simon Property Group, Inc. will post 12.54 earnings per share for the current fiscal year.

Simon Property Group Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Monday, June 30th. Stockholders of record on Monday, June 9th were given a dividend of $2.10 per share. This represents a $8.40 annualized dividend and a dividend yield of 5.03%. The ex-dividend date was Monday, June 9th. Simon Property Group's dividend payout ratio (DPR) is presently 133.76%.

Analyst Upgrades and Downgrades

SPG has been the topic of a number of research reports. Piper Sandler decreased 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 research note on Friday, May 23rd. Stifel Nicolaus boosted their price objective 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. Mizuho cut their price objective 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. LADENBURG THALM/SH SH began coverage on shares of Simon Property Group in a report on Friday, July 18th. They issued a "buy" rating and a $225.00 price objective for the company. Finally, Wall Street Zen downgraded shares of Simon Property Group from a "buy" rating to a "hold" rating in a report on Saturday, March 29th. Seven investment analysts have rated the stock with a hold rating and five have given a buy rating to the company. Based on data from MarketBeat.com, the stock has an average rating of "Hold" and a consensus target price of $182.73.

Insider Activity at Simon Property Group

In other news, Director Larry C. Glasscock acquired 396 shares of the firm's stock in a transaction dated Monday, June 30th. The stock was bought at an average cost of $159.29 per share, for a total transaction of $63,078.84. Following the completion of the transaction, the director directly owned 43,185 shares in the company, valued at $6,878,938.65. This represents a 0.93% increase in their position. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, Director Glyn Aeppel acquired 234 shares of the firm's stock in a transaction dated Monday, June 30th. The shares were purchased at an average price of $159.29 per share, with a total value of $37,273.86. Following the completion of the transaction, the director owned 19,057 shares of the company's stock, valued at $3,035,589.53. This trade represents a 1.24% increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders acquired a total of 2,386 shares of company stock valued at $380,066 over the last 90 days. 8.66% of the stock is owned by company insiders.

Simon Property Group 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.