Lecap Asset Management Ltd. Takes Position in Simon Property Group, Inc. (NYSE:SPG)

Lecap Asset Management Ltd. acquired a new stake in Simon Property Group, Inc. (NYSE:SPG - Free Report) in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 2,273 shares of the real estate investment trust's stock, valued at approximately $378,000.

Several other institutional investors have also modified their holdings of the company. Brighton Jones LLC bought a new position in shares of Simon Property Group during the 4th quarter valued at about $295,000. IFP Advisors Inc lifted its stake in Simon Property Group by 4.4% during the fourth quarter. IFP Advisors Inc now owns 3,735 shares of the real estate investment trust's stock valued at $643,000 after purchasing an additional 159 shares during the last quarter. Oregon Public Employees Retirement Fund lifted its stake in Simon Property Group by 0.4% during the fourth quarter. Oregon Public Employees Retirement Fund now owns 26,315 shares of the real estate investment trust's stock valued at $4,532,000 after purchasing an additional 110 shares during the last quarter. NewEdge Wealth LLC boosted its holdings in Simon Property Group by 15.9% during the fourth quarter. NewEdge Wealth LLC now owns 9,647 shares of the real estate investment trust's stock worth $1,661,000 after buying an additional 1,320 shares in the last quarter. Finally, New York Life Investment Management LLC grew its position in Simon Property Group by 0.3% in the fourth quarter. New York Life Investment Management LLC now owns 45,952 shares of the real estate investment trust's stock worth $7,913,000 after buying an additional 126 shares during the last quarter. Institutional investors and hedge funds own 93.01% of the company's stock.

Simon Property Group Stock Up 2.1%

NYSE:SPG opened at $160.70 on Friday. The business's fifty day moving average price is $159.47 and its 200 day moving average price is $167.03. The firm has a market capitalization of $52.45 billion, a price-to-earnings ratio of 25.59, a PEG ratio of 8.78 and a beta of 1.47. 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 1-year low of $136.34 and a 1-year high of $190.14.

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 company had revenue of $1.47 billion for the quarter, compared to analysts' expectations of $1.34 billion. Simon Property Group had a return on equity of 67.32% and a net margin of 35.98%. The business's revenue for the quarter was up 2.1% on a year-over-year basis. During the same quarter in the previous year, the business posted $3.56 EPS. On average, sell-side analysts forecast that Simon Property Group, Inc. will post 12.54 earnings per share for the current fiscal year.

Simon Property Group Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Monday, June 30th. Stockholders of record on Monday, June 9th will be issued a dividend of $2.10 per share. This represents a $8.40 annualized dividend and a dividend yield of 5.23%. The ex-dividend date is Monday, June 9th. Simon Property Group's dividend payout ratio is currently 133.76%.

Analysts Set New Price Targets

A number of equities research analysts have recently commented on the company. Stifel Nicolaus increased their price objective on Simon Property Group from $168.50 to $180.00 and gave the company a "buy" rating in a research report on Tuesday, May 13th. Mizuho cut their target price on Simon Property Group from $182.00 to $169.00 and set a "neutral" rating on the stock in a research report on Tuesday, June 10th. JPMorgan Chase & Co. reduced their target price 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 dropped their price target on 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 downgraded 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 four have given a buy rating to the company's stock. According to MarketBeat.com, the company presently has an average rating of "Hold" and an average price target of $179.44.

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.

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