NBC Securities Inc. Buys 2,349 Shares of Simon Property Group, Inc. (NYSE:SPG)

NBC Securities Inc. grew its position in Simon Property Group, Inc. (NYSE:SPG - Free Report) by 234,900.0% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 2,350 shares of the real estate investment trust's stock after acquiring an additional 2,349 shares during the period. NBC Securities Inc.'s holdings in Simon Property Group were worth $390,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also modified their holdings of SPG. Norges Bank bought a new stake in shares of Simon Property Group during the 4th quarter worth about $2,059,505,000. Northern Trust Corp boosted its holdings in shares of Simon Property Group by 45.9% during the 4th quarter. Northern Trust Corp now owns 5,462,856 shares of the real estate investment trust's stock worth $940,758,000 after buying an additional 1,718,398 shares during the period. Resolution Capital Ltd bought a new stake in shares of Simon Property Group during the 4th quarter worth about $212,592,000. GAMMA Investing LLC boosted its holdings in shares of Simon Property Group by 16,346.0% during the 1st quarter. GAMMA Investing LLC now owns 876,736 shares of the real estate investment trust's stock worth $145,608,000 after buying an additional 871,405 shares during the period. Finally, Capital World Investors bought a new stake in shares of Simon Property Group during the 4th quarter worth about $119,777,000. Institutional investors own 93.01% of the company's stock.

Simon Property Group Trading Up 0.9%

Shares of NYSE:SPG traded up $1.44 during mid-day trading on Friday, hitting $162.19. The company had a trading volume of 1,303,749 shares, compared to its average volume of 1,547,578. 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 firm has a fifty day moving average price of $156.92 and a 200 day moving average price of $169.31. Simon Property Group, Inc. has a one year low of $136.34 and a one year high of $190.14. The company has a market capitalization of $52.94 billion, a PE ratio of 22.34, a price-to-earnings-growth ratio of 10.10 and a beta of 1.47.

Simon Property Group (NYSE:SPG - Get Free Report) last released its quarterly earnings data on Monday, May 12th. The real estate investment trust reported $2.95 earnings per share for the quarter, topping the consensus estimate of $2.91 by $0.04. Simon Property Group had a net margin of 41.49% and a return on equity of 74.02%. The firm 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 company posted $3.56 earnings per share. The business's revenue was up 2.1% on a year-over-year basis. As a group, research analysts forecast that Simon Property Group, Inc. will post 12.54 EPS for the current year.

Simon Property Group Announces Dividend

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. The ex-dividend date of this dividend is Monday, June 9th. This represents a $8.40 annualized dividend and a dividend yield of 5.18%. Simon Property Group's payout ratio is 133.76%.

Wall Street Analysts Forecast Growth

SPG has been the subject of several analyst reports. Wall Street Zen cut shares of Simon Property Group from a "buy" rating to a "hold" rating in a research note on Saturday, March 29th. Stifel Nicolaus increased their target price on shares of Simon Property Group from $168.50 to $180.00 and gave the stock a "buy" rating in a report on Tuesday, May 13th. Scotiabank decreased their price target on shares of Simon Property Group from $186.00 to $159.00 and set a "sector perform" rating on the stock in a report on Wednesday, April 23rd. JPMorgan Chase & Co. decreased their target price on shares of 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. Finally, Piper Sandler decreased 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 research note on Friday, May 23rd. Six investment analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. According to MarketBeat, Simon Property Group presently has an average rating of "Hold" and an average target price of $179.20.

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.