Michels Family Financial LLC Acquires New Shares in Simon Property Group, Inc. (NYSE:SPG)

Michels Family Financial LLC acquired a new stake in shares of Simon Property Group, Inc. (NYSE:SPG - Free Report) in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm acquired 4,439 shares of the real estate investment trust's stock, valued at approximately $764,000.

Other institutional investors have also recently made changes to their positions in the company. Hopwood Financial Services Inc. bought a new position in Simon Property Group in the 4th quarter valued at approximately $28,000. WR Wealth Planners LLC raised its stake in shares of Simon Property Group by 328.2% in the fourth quarter. WR Wealth Planners LLC now owns 167 shares of the real estate investment trust's stock worth $29,000 after purchasing an additional 128 shares during the last quarter. New England Capital Financial Advisors LLC bought a new position in shares of Simon Property Group during the fourth quarter valued at $30,000. Caisse Des Depots ET Consignations purchased a new stake in shares of Simon Property Group during the fourth quarter valued at $31,000. Finally, TCTC Holdings LLC bought a new stake in Simon Property Group in the 4th quarter worth about $34,000. Hedge funds and other institutional investors own 93.01% of the company's stock.

Analyst Upgrades and Downgrades

Several equities analysts have issued reports on SPG shares. Stifel Nicolaus upped their target price on shares of Simon Property Group from $168.50 to $180.00 and gave the company a "buy" rating in a research note on Tuesday, May 13th. JPMorgan Chase & Co. decreased their price objective 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. Piper Sandler dropped their target price on shares of Simon Property Group from $205.00 to $200.00 and set an "overweight" rating on the stock in a report on Friday. Scotiabank cut their price target on Simon Property Group from $186.00 to $159.00 and set a "sector perform" rating for the company in a research note on Wednesday, April 23rd. Finally, Wall Street Zen lowered Simon Property Group from a "buy" rating to a "hold" rating in a research note on Saturday, March 29th. Six analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of "Hold" and a consensus target price of $179.20.

Simon Property Group Price Performance

Shares of SPG stock traded up $3.56 during mid-day trading on Tuesday, hitting $160.33. The company had a trading volume of 1,929,629 shares, compared to its average volume of 1,545,114. Simon Property Group, Inc. has a 52-week low of $136.34 and a 52-week high of $190.14. The stock's 50 day moving average price is $157.58 and its 200-day moving average price is $170.30. The company has a debt-to-equity ratio of 7.19, a current ratio of 1.28 and a quick ratio of 2.00. The company has a market capitalization of $52.34 billion, a P/E ratio of 22.08, a P/E/G ratio of 10.10 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 analysts' consensus estimates of $2.91 by $0.04. The company had revenue of $1.47 billion for the quarter, compared to the consensus estimate of $1.34 billion. Simon Property Group had a net margin of 41.49% and a return on equity of 74.02%. 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 EPS. Equities research analysts forecast that Simon Property Group, Inc. will post 12.54 earnings per share for the current year.

Simon Property Group Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Monday, June 30th. Stockholders of record on Monday, June 9th will be paid a $2.10 dividend. This represents a $8.40 annualized dividend and a dividend yield of 5.24%. The ex-dividend date is Monday, June 9th. Simon Property Group's dividend payout ratio is currently 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.