ORG Wealth Partners LLC Invests $476,000 in Simon Property Group, Inc. (NYSE:SPG)

ORG Wealth Partners LLC acquired a new stake in Simon Property Group, Inc. (NYSE:SPG - Free Report) during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 2,854 shares of the real estate investment trust's stock, valued at approximately $476,000.

A number of other institutional investors also recently bought and sold shares of the business. TTP Investments Inc. increased its stake in Simon Property Group by 1.6% in the first quarter. TTP Investments Inc. now owns 58,314 shares of the real estate investment trust's stock valued at $9,685,000 after purchasing an additional 915 shares during the period. Global X Japan Co. Ltd. increased its stake in shares of Simon Property Group by 24.9% during the first quarter. Global X Japan Co. Ltd. now owns 818 shares of the real estate investment trust's stock worth $136,000 after acquiring an additional 163 shares during the period. Aspiriant LLC increased its stake in shares of Simon Property Group by 1.3% during the first quarter. Aspiriant LLC now owns 5,851 shares of the real estate investment trust's stock worth $972,000 after acquiring an additional 74 shares during the period. State of Alaska Department of Revenue increased its stake in shares of Simon Property Group by 1.5% during the first quarter. State of Alaska Department of Revenue now owns 194,602 shares of the real estate investment trust's stock worth $32,318,000 after acquiring an additional 2,782 shares during the period. Finally, Analyst IMS Investment Management Services Ltd. increased its stake in shares of Simon Property Group by 1.0% during the first quarter. Analyst IMS Investment Management Services Ltd. now owns 145,307 shares of the real estate investment trust's stock worth $24,132,000 after acquiring an additional 1,393 shares during the period. 93.01% of the stock is currently owned by institutional investors and hedge funds.

Simon Property Group Stock Performance

Shares of SPG opened at $156.97 on Thursday. 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 company has a market capitalization of $51.24 billion, a price-to-earnings ratio of 25.00, a PEG ratio of 8.76 and a beta of 1.47. The company's 50 day simple moving average is $158.31 and its 200 day simple moving average is $168.00. Simon Property Group, Inc. has a 1 year low of $136.34 and a 1 year high of $190.14.

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. 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 35.98% and a return on equity of 67.32%. The company's quarterly revenue was up 2.1% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $3.56 earnings per share. On average, sell-side analysts predict that Simon Property Group, Inc. will post 12.54 EPS for the current year.

Simon Property Group Dividend Announcement

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%.

Analyst Upgrades and Downgrades

SPG has been the topic of a number of recent analyst reports. Wall Street Zen lowered shares of Simon Property Group from a "buy" rating to a "hold" rating in a research note on Saturday, March 29th. Stifel Nicolaus boosted their price objective 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 boosted their price objective on shares of Simon Property Group from $159.00 to $163.00 and gave the stock a "sector perform" rating in a report on Tuesday. Mizuho decreased their price objective on shares of Simon Property Group from $182.00 to $169.00 and set a "neutral" rating on the stock in a report on Tuesday, June 10th. Finally, Piper Sandler decreased their price objective 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, May 23rd. 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, the company presently has a consensus rating of "Hold" and a consensus target price of $179.44.

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.

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