MFA Wealth Advisors LLC Purchases Shares of 2,898 Simon Property Group, Inc. (NYSE:SPG)

MFA Wealth Advisors LLC bought a new position in shares of Simon Property Group, Inc. (NYSE:SPG - Free Report) during the 1st quarter, according to the company in its most recent filing with the SEC. The fund bought 2,898 shares of the real estate investment trust's stock, valued at approximately $481,000.

A number of other large investors have also modified their holdings of the business. Brighton Jones LLC acquired a new position in Simon Property Group during the fourth quarter worth about $295,000. Farther Finance Advisors LLC boosted its stake in shares of Simon Property Group by 31.1% during the 1st quarter. Farther Finance Advisors LLC now owns 3,325 shares of the real estate investment trust's stock worth $553,000 after acquiring an additional 789 shares in the last quarter. Allworth Financial LP grew its holdings in shares of Simon Property Group by 140.6% in the 4th quarter. Allworth Financial LP now owns 3,152 shares of the real estate investment trust's stock worth $545,000 after acquiring an additional 1,842 shares during the period. Principal Securities Inc. increased its stake in Simon Property Group by 4.2% in the 4th quarter. Principal Securities Inc. now owns 4,140 shares of the real estate investment trust's stock valued at $713,000 after purchasing an additional 166 shares in the last quarter. Finally, PNC Financial Services Group Inc. raised its holdings in Simon Property Group by 7.7% during the fourth quarter. PNC Financial Services Group Inc. now owns 361,893 shares of the real estate investment trust's stock worth $62,322,000 after purchasing an additional 25,987 shares during the last quarter. 93.01% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several analysts have weighed in on the company. Stifel Nicolaus upped 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. Wall Street Zen lowered shares of Simon Property Group from a "buy" rating to a "hold" rating in a research report on Saturday, March 29th. JPMorgan Chase & Co. dropped their target price on shares of Simon Property Group from $192.00 to $180.00 and set a "neutral" rating for the company in a report on Thursday, May 22nd. Mizuho cut their target price 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. Finally, Scotiabank upped 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 report on Tuesday. Six equities research analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of "Hold" and a consensus target price of $179.44.

Simon Property Group Trading Down 0.1%

Shares of Simon Property Group stock traded down $0.16 during mid-day trading on Wednesday, hitting $156.97. 1,476,013 shares of the stock were exchanged, compared to its average volume of 1,544,571. The stock has a market capitalization of $51.24 billion, a price-to-earnings ratio of 25.00, a price-to-earnings-growth ratio of 8.79 and a beta of 1.47. Simon Property Group, Inc. has a twelve month low of $136.34 and a twelve month high of $190.14. The company has a current ratio of 1.45, a quick ratio of 1.45 and a debt-to-equity ratio of 8.29. The company has a 50-day simple moving average of $158.24 and a 200 day simple moving average of $168.08.

Simon Property Group (NYSE:SPG - Get Free Report) last announced its quarterly earnings data 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 business had revenue of $1.47 billion for the quarter, compared to the consensus estimate of $1.34 billion. During the same quarter in the prior year, the firm posted $3.56 earnings per share. The company's quarterly revenue was up 2.1% compared to the same quarter last year. Research analysts forecast that Simon Property Group, Inc. will post 12.54 EPS for the current 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 given a dividend of $2.10 per share. This represents a $8.40 annualized dividend and a yield of 5.35%. The ex-dividend date is Monday, June 9th. Simon Property Group's dividend payout ratio (DPR) is 133.76%.

Simon Property Group Company 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.