Michels Family Financial LLC Takes $764,000 Position in Simon Property Group, Inc. (NYSE:SPG)

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

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

Simon Property Group Stock Up 0.9%

Shares of NYSE:SPG traded up $1.53 during trading on Thursday, hitting $162.74. 648,223 shares of the company were exchanged, compared to its average volume of 1,542,834. Simon Property Group, Inc. has a fifty-two week low of $136.34 and a fifty-two week high of $190.14. The stock has a market cap of $53.12 billion, a price-to-earnings ratio of 22.39, a P/E/G ratio of 10.10 and a beta of 1.43. The company has a current ratio of 1.28, a quick ratio of 2.00 and a debt-to-equity ratio of 7.19. The firm has a fifty day moving average price of $157.48 and a two-hundred day moving average price of $170.16.

Simon Property Group (NYSE:SPG - Get Free Report) last issued its 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 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%. The firm's revenue for the quarter was up 2.1% on a year-over-year basis. During the same period in the previous year, the company earned $3.56 earnings per share. As a group, research analysts anticipate that Simon Property Group, Inc. will post 12.54 earnings per share for the current fiscal year.

Simon Property Group Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, June 30th. Shareholders of record on Monday, June 9th will be paid a $2.10 dividend. The ex-dividend date is Monday, June 9th. This represents a $8.40 annualized dividend and a yield of 5.16%. Simon Property Group's dividend payout ratio is 133.76%.

Analyst Ratings Changes

Several brokerages have commented on SPG. JPMorgan Chase & Co. lowered 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 research note on Thursday, May 22nd. Scotiabank lowered their price objective on shares of Simon Property Group from $186.00 to $159.00 and set a "sector perform" rating for the company in a research report on Wednesday, April 23rd. Stifel Nicolaus raised their price objective on Simon Property Group from $168.50 to $180.00 and gave the stock a "buy" rating in a research note on Tuesday, May 13th. Wall Street Zen cut Simon Property Group from a "buy" rating to a "hold" rating in a research note on Saturday, March 29th. Finally, Piper Sandler lowered their price target on Simon Property Group from $205.00 to $200.00 and set an "overweight" rating for the company in a report on Friday, May 23rd. Six research analysts have rated the stock with a hold rating and five have issued a buy rating to the company's stock. According to data from MarketBeat, Simon Property Group has an average rating of "Hold" and an average price target of $179.20.

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.