MQS Management LLC Invests $968,000 in Simon Property Group, Inc. (NYSE:SPG)

MQS Management LLC purchased a new stake in Simon Property Group, Inc. (NYSE:SPG - Free Report) during the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm purchased 5,829 shares of the real estate investment trust's stock, valued at approximately $968,000. Simon Property Group accounts for about 0.6% of MQS Management LLC's investment portfolio, making the stock its 13th biggest holding.

A number of other institutional investors also recently modified their holdings of SPG. Pitcairn Co. boosted its stake in Simon Property Group by 0.6% in the fourth quarter. Pitcairn Co. now owns 9,895 shares of the real estate investment trust's stock valued at $1,704,000 after buying an additional 55 shares in the last quarter. Colonial Trust Co SC lifted its stake in shares of Simon Property Group by 37.5% in the fourth quarter. Colonial Trust Co SC now owns 209 shares of the real estate investment trust's stock worth $36,000 after acquiring an additional 57 shares during the period. HighPoint Advisor Group LLC lifted its stake in shares of Simon Property Group by 1.8% in the fourth quarter. HighPoint Advisor Group LLC now owns 3,396 shares of the real estate investment trust's stock worth $626,000 after acquiring an additional 60 shares during the period. Signaturefd LLC increased its holdings in Simon Property Group by 1.3% in the fourth quarter. Signaturefd LLC now owns 5,542 shares of the real estate investment trust's stock worth $954,000 after purchasing an additional 71 shares in the last quarter. Finally, Aspiriant LLC increased its holdings in Simon Property Group by 1.3% in the first quarter. Aspiriant LLC now owns 5,851 shares of the real estate investment trust's stock worth $972,000 after purchasing an additional 74 shares in the last quarter. Institutional investors own 93.01% of the company's stock.

Simon Property Group Stock Up 0.9%

Simon Property Group stock traded up $1.45 during mid-day trading on Wednesday, reaching $161.38. 1,438,798 shares of the company were exchanged, compared to its average volume of 1,549,236. The business has a fifty day moving average of $161.34 and a 200 day moving average of $165.92. The company has a debt-to-equity ratio of 8.29, a quick ratio of 1.45 and a current ratio of 1.45. The firm has a market cap of $52.68 billion, a P/E ratio of 25.70, a PEG ratio of 10.78 and a beta of 1.43. Simon Property Group, Inc. has a 12-month low of $136.34 and a 12-month 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 (EPS) for the quarter, beating the consensus estimate of $2.91 by $0.04. Simon Property Group had a return on equity of 67.32% and a net margin of 35.98%. The firm had revenue of $1.47 billion for the quarter, compared to the consensus estimate of $1.34 billion. During the same period in the prior year, the firm earned $3.56 EPS. The firm's revenue was up 2.1% on a year-over-year basis. Research analysts anticipate that Simon Property Group, Inc. will post 12.54 earnings per share for the current fiscal year.

Simon Property Group Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Monday, June 30th. Stockholders of record on Monday, June 9th were given a dividend of $2.10 per share. This represents a $8.40 dividend on an annualized basis and a dividend yield of 5.21%. The ex-dividend date was Monday, June 9th. Simon Property Group's dividend payout ratio (DPR) is presently 133.76%.

Insider Transactions at Simon Property Group

In other Simon Property Group news, Director Reuben S. Leibowitz bought 522 shares of the firm's stock in a transaction on Monday, June 30th. The shares were acquired at an average cost of $159.29 per share, with a total value of $83,149.38. Following the purchase, the director directly owned 58,195 shares of the company's stock, valued at $9,269,881.55. This trade represents a 0.91% increase in their position. The acquisition was disclosed in a filing with the SEC, which is available through this hyperlink. Also, Director Glyn Aeppel bought 234 shares of the firm's stock in a transaction on Monday, June 30th. The stock was acquired at an average cost of $159.29 per share, for a total transaction of $37,273.86. Following the completion of the purchase, the director directly owned 19,057 shares in the company, valued at approximately $3,035,589.53. This represents a 1.24% increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders bought a total of 2,386 shares of company stock worth $380,066 in the last three months. 8.66% of the stock is owned by corporate insiders.

Analyst Ratings Changes

Several equities research analysts have recently commented on the company. Piper Sandler decreased their price objective 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. Stifel Nicolaus boosted their price objective on Simon Property Group from $168.50 to $180.00 and gave the stock a "buy" rating in a research report on Tuesday, May 13th. Mizuho cut their price objective 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. Barclays assumed coverage on Simon Property Group in a research report on Wednesday, July 2nd. They set an "equal weight" rating and a $170.00 price target on the stock. Finally, JPMorgan Chase & Co. decreased their price objective on Simon Property Group from $192.00 to $180.00 and set a "neutral" rating on the stock in a research note on Thursday, May 22nd. Seven equities research analysts have rated the stock with a hold rating and four have given a buy rating to the company's stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Hold" and a consensus price target of $178.50.

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.