Rational Advisors Inc. bought a new stake in Simon Property Group, Inc. (NYSE:SPG - Free Report) in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm bought 2,328 shares of the real estate investment trust's stock, valued at approximately $387,000.
Other institutional investors and hedge funds also recently made changes to their positions in the company. Fortem Financial Group LLC raised its stake in Simon Property Group by 2.0% during the first quarter. Fortem Financial Group LLC now owns 11,829 shares of the real estate investment trust's stock valued at $1,965,000 after buying an additional 230 shares during the last quarter. Park Square Financial Group LLC raised its stake in Simon Property Group by 108.0% during the first quarter. Park Square Financial Group LLC now owns 156 shares of the real estate investment trust's stock valued at $26,000 after buying an additional 81 shares during the last quarter. Diversify Wealth Management LLC raised its stake in Simon Property Group by 6.6% during the first quarter. Diversify Wealth Management LLC now owns 3,236 shares of the real estate investment trust's stock valued at $507,000 after buying an additional 201 shares during the last quarter. Xponance Inc. raised its stake in Simon Property Group by 11.7% during the first quarter. Xponance Inc. now owns 81,067 shares of the real estate investment trust's stock valued at $13,464,000 after buying an additional 8,476 shares during the last quarter. Finally, WESPAC Advisors LLC raised its stake in Simon Property Group by 7.9% during the first quarter. WESPAC Advisors LLC now owns 5,266 shares of the real estate investment trust's stock valued at $875,000 after buying an additional 384 shares during the last quarter. Hedge funds and other institutional investors own 93.01% of the company's stock.
Insider Buying and Selling
In related news, Director Larry C. Glasscock purchased 396 shares of the business's stock in a transaction on Monday, June 30th. The stock was acquired at an average price of $159.29 per share, with a total value of $63,078.84. Following the completion of the acquisition, the director owned 43,185 shares of the company's stock, valued at approximately $6,878,938.65. This trade represents a 0.93% increase in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, Director Gary M. Rodkin purchased 246 shares of the business's stock in a transaction on Monday, June 30th. The shares were bought at an average cost of $159.29 per share, with a total value of $39,185.34. Following the acquisition, the director directly owned 19,010 shares of the company's stock, valued at $3,028,102.90. This trade represents a 1.31% increase in their position. The disclosure for this purchase can be found here. Insiders have purchased a total of 2,386 shares of company stock valued at $380,066 over the last ninety days. 8.66% of the stock is owned by insiders.
Simon Property Group Stock Performance
Shares of SPG traded down $1.76 during trading hours on Friday, hitting $161.69. The stock had a trading volume of 1,112,287 shares, compared to its average volume of 1,547,267. The company has a debt-to-equity ratio of 8.29, a current ratio of 1.45 and a quick ratio of 1.45. Simon Property Group, Inc. has a 12 month low of $136.34 and a 12 month high of $190.14. The firm has a market capitalization of $52.78 billion, a PE ratio of 25.75, a PEG ratio of 9.11 and a beta of 1.43. The stock has a fifty day moving average price of $161.31 and a 200 day moving average price of $166.13.
Simon Property Group (NYSE:SPG - Get Free Report) last issued its quarterly earnings data on Monday, May 12th. The real estate investment trust reported $2.95 EPS for the quarter, topping 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 company had revenue of $1.47 billion during the quarter, compared to analyst estimates of $1.34 billion. During the same quarter in the previous year, the company posted $3.56 earnings per share. Simon Property Group's revenue was up 2.1% compared to the same quarter last year. Analysts anticipate that Simon Property Group, Inc. will post 12.54 EPS for the current year.
Simon Property Group Dividend Announcement
The company also recently disclosed a quarterly dividend, which was paid on Monday, June 30th. Investors of record on Monday, June 9th were issued a $2.10 dividend. This represents a $8.40 annualized dividend and a dividend yield of 5.20%. The ex-dividend date was Monday, June 9th. Simon Property Group's payout ratio is currently 133.76%.
Analyst Upgrades and Downgrades
SPG has been the subject of a number of recent research reports. JPMorgan Chase & Co. lowered their price objective on 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 lifted their price objective on Simon Property Group from $159.00 to $163.00 and gave the company a "sector perform" rating in a research note on Tuesday, June 17th. Barclays started coverage on Simon Property Group in a report on Wednesday, July 2nd. They issued an "equal weight" rating and a $170.00 target price for the company. Wall Street Zen lowered Simon Property Group from a "buy" rating to a "hold" rating in a report on Saturday, March 29th. Finally, Stifel Nicolaus lifted their target price on Simon Property Group from $168.50 to $180.00 and gave the stock a "buy" rating in a report on Tuesday, May 13th. Seven research analysts have rated the stock with a hold rating and four have given a buy rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of "Hold" and a consensus target price of $178.50.
Read Our Latest Analysis on SPG
About Simon Property Group
(
Free Report)
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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