Larson Financial Group LLC Buys 2,923 Shares of Simon Property Group, Inc. (NYSE:SPG)

Larson Financial Group LLC increased its stake in Simon Property Group, Inc. (NYSE:SPG - Free Report) by 76.8% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 6,729 shares of the real estate investment trust's stock after acquiring an additional 2,923 shares during the period. Larson Financial Group LLC's holdings in Simon Property Group were worth $1,118,000 at the end of the most recent reporting period.

Several other large investors have also recently bought and sold shares of the business. Norges Bank purchased a new position in shares of Simon Property Group during the fourth quarter worth about $2,059,505,000. Principal Financial Group Inc. lifted its holdings in shares of Simon Property Group by 133.0% in the 1st quarter. Principal Financial Group Inc. now owns 3,206,458 shares of the real estate investment trust's stock valued at $532,529,000 after buying an additional 1,830,264 shares during the period. Northern Trust Corp lifted its holdings in shares of Simon Property Group by 45.9% in 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 buying an additional 1,718,398 shares during the period. Resolution Capital Ltd acquired a new stake in shares of Simon Property Group during the 4th quarter valued at approximately $212,592,000. Finally, Massachusetts Financial Services Co. MA acquired a new stake in shares of Simon Property Group during the 1st quarter valued at approximately $197,377,000. Hedge funds and other institutional investors own 93.01% of the company's stock.

Simon Property Group Price Performance

Shares of Simon Property Group stock traded up $1.30 during trading on Thursday, hitting $162.77. 1,054,204 shares of the company's stock traded hands, compared to its average volume of 1,546,278. 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 firm's fifty day moving average price is $161.33 and its 200 day moving average price is $165.89. Simon Property Group, Inc. has a twelve month low of $136.34 and a twelve month high of $190.14. The company has a market cap of $53.13 billion, a PE ratio of 25.92, a PEG ratio of 10.89 and a beta of 1.43.

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, topping analysts' consensus estimates of $2.91 by $0.04. The business 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 35.98% and a return on equity of 67.32%. Simon Property Group's revenue for the quarter was up 2.1% compared to the same quarter last year. During the same period in the previous year, the firm posted $3.56 earnings per share. Analysts forecast that Simon Property Group, Inc. will post 12.54 earnings per share for the current year.

Simon Property Group Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Monday, June 30th. Investors of record on Monday, June 9th were issued a dividend of $2.10 per share. This represents a $8.40 annualized dividend and a yield of 5.16%. The ex-dividend date was Monday, June 9th. Simon Property Group's payout ratio is 133.76%.

Analysts Set New Price Targets

A number of equities research analysts have recently issued reports on SPG shares. Scotiabank lifted their price target on shares of Simon Property Group from $159.00 to $163.00 and gave the company a "sector perform" rating in a research report on Tuesday, June 17th. Stifel Nicolaus increased their target price on Simon Property Group from $168.50 to $180.00 and gave the company a "buy" rating in a report on Tuesday, May 13th. Barclays started coverage on Simon Property Group in a report on Wednesday, July 2nd. They issued an "equal weight" rating and a $170.00 price target for the company. JPMorgan Chase & Co. dropped their price objective on 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. Finally, Wall Street Zen downgraded shares of Simon Property Group from a "buy" rating to a "hold" rating in a research note on Saturday, March 29th. Seven equities research analysts have rated the stock with a hold rating and four have issued a buy rating to the company's stock. Based on data from MarketBeat.com, the company currently has an average rating of "Hold" and an average price target of $178.50.

Insider Activity

In related news, Director Gary M. Rodkin acquired 246 shares of the company's stock in a transaction dated Monday, June 30th. The shares were bought at an average cost of $159.29 per share, with a total value of $39,185.34. Following the completion of the transaction, the director directly owned 19,010 shares of the company's stock, valued at $3,028,102.90. This trade represents a 1.31% increase in their ownership of the stock. The acquisition was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, Director Larry C. Glasscock purchased 396 shares of the firm's stock in a transaction that occurred on Monday, June 30th. The stock was acquired at an average price of $159.29 per share, for a total transaction of $63,078.84. Following the completion of the purchase, the director directly owned 43,185 shares of the company's stock, valued at $6,878,938.65. This represents a 0.93% increase in their position. The disclosure for this purchase can be found here. In the last three months, insiders purchased 2,386 shares of company stock valued at $380,066. 8.66% of the stock is owned by corporate 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.