Kingsview Wealth Management LLC Purchases 219,742 Shares of Simon Property Group, Inc. (NYSE:SPG)

Kingsview Wealth Management LLC raised its stake in shares of Simon Property Group, Inc. (NYSE:SPG - Free Report) by 14,747.8% in the first quarter, according to the company in its most recent disclosure with the SEC. The firm owned 221,232 shares of the real estate investment trust's stock after acquiring an additional 219,742 shares during the quarter. Kingsview Wealth Management LLC owned approximately 0.07% of Simon Property Group worth $36,742,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Norges Bank bought a new stake in Simon Property Group during the 4th quarter worth approximately $2,059,505,000. Principal Financial Group Inc. boosted its stake in Simon Property Group by 133.0% in the first quarter. Principal Financial Group Inc. now owns 3,206,458 shares of the real estate investment trust's stock worth $532,529,000 after purchasing an additional 1,830,264 shares in the last quarter. Northern Trust Corp grew its holdings in shares of Simon Property Group by 45.9% during 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 last quarter. Resolution Capital Ltd acquired a new stake in shares of Simon Property Group in the fourth quarter valued at $212,592,000. Finally, Massachusetts Financial Services Co. MA bought a new position in shares of Simon Property Group in the first quarter valued at about $197,377,000. Institutional investors and hedge funds own 93.01% of the company's stock.

Insider Activity at Simon Property Group

In related news, Director Glyn Aeppel purchased 234 shares of the business's stock in a transaction on 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 purchase, the director owned 19,057 shares in the company, valued at $3,035,589.53. This represents a 1.24% increase in their position. The acquisition was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, Director Daniel C. Smith acquired 378 shares of the business's stock in a transaction that occurred on Monday, June 30th. The stock was bought at an average cost of $159.29 per share, for a total transaction of $60,211.62. Following the completion of the transaction, the director directly owned 31,998 shares in the company, valued at $5,096,961.42. This represents a 1.20% increase in their position. The disclosure for this purchase can be found here. Over the last quarter, insiders purchased 2,386 shares of company stock valued at $380,066. 8.66% of the stock is owned by corporate insiders.

Analyst Ratings Changes

A number of equities research analysts have commented on SPG shares. Barclays started coverage on shares of Simon Property Group in a report on Wednesday, July 2nd. They set an "equal weight" rating and a $170.00 price objective on the stock. Piper Sandler lowered their price target on shares of Simon Property Group from $205.00 to $200.00 and set an "overweight" rating for the company in a report on Friday, May 23rd. Mizuho dropped 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 research report on Tuesday, June 10th. LADENBURG THALM/SH SH began coverage on Simon Property Group in a report on Friday. They set a "buy" rating and a $225.00 price objective on the stock. Finally, Stifel Nicolaus lifted their target price on Simon Property Group from $168.50 to $180.00 and gave the company a "buy" rating in a research note on Tuesday, May 13th. Seven analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. Based on data from MarketBeat.com, Simon Property Group has a consensus rating of "Hold" and a consensus price target of $182.73.

Simon Property Group Trading Down 0.0%

Shares of NYSE:SPG traded down $0.03 during midday trading on Friday, hitting $162.70. The company had a trading volume of 949,875 shares, compared to its average volume of 1,545,174. The company has a current ratio of 1.45, a quick ratio of 1.45 and a debt-to-equity ratio of 8.29. Simon Property Group, Inc. has a 12 month low of $136.34 and a 12 month high of $190.14. The firm has a fifty day simple moving average of $161.32 and a 200 day simple moving average of $165.76. The stock has a market cap of $53.11 billion, a price-to-earnings ratio of 25.91, a PEG ratio of 10.97 and a beta of 1.43.

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

Simon Property Group Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Monday, June 30th. Shareholders of record on Monday, June 9th were issued a $2.10 dividend. The ex-dividend date was Monday, June 9th. This represents a $8.40 annualized dividend and a yield of 5.16%. Simon Property Group's dividend payout ratio (DPR) is presently 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.