RFG Advisory LLC Makes New $1.28 Million Investment in Simon Property Group, Inc. (NYSE:SPG)

RFG Advisory LLC purchased a new position in shares of Simon Property Group, Inc. (NYSE:SPG - Free Report) during the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor purchased 7,675 shares of the real estate investment trust's stock, valued at approximately $1,275,000.

Several other institutional investors also recently bought and sold shares of SPG. Asset Management One Co. Ltd. raised its position in Simon Property Group by 0.7% during the fourth quarter. Asset Management One Co. Ltd. now owns 587,933 shares of the real estate investment trust's stock worth $101,130,000 after acquiring an additional 3,990 shares during the period. Brighton Jones LLC acquired a new position in shares of Simon Property Group during the 4th quarter worth about $295,000. Allworth Financial LP raised its position in shares of Simon Property Group by 140.6% during the 4th quarter. Allworth Financial LP now owns 3,152 shares of the real estate investment trust's stock worth $545,000 after purchasing an additional 1,842 shares during the last quarter. Clientfirst Wealth Management LLC purchased a new position in Simon Property Group in the 4th quarter valued at about $274,000. Finally, Principal Securities Inc. boosted its holdings in Simon Property Group by 4.2% in the 4th quarter. Principal Securities Inc. now owns 4,140 shares of the real estate investment trust's stock worth $713,000 after buying an additional 166 shares during the last quarter. 93.01% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of equities analysts have commented on the company. Piper Sandler reduced their target price 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. Wall Street Zen downgraded Simon Property Group from a "buy" rating to a "hold" rating in a research note on Saturday, March 29th. JPMorgan Chase & Co. lowered 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. Stifel Nicolaus increased their target price on shares of Simon Property Group from $168.50 to $180.00 and gave the company a "buy" rating in a research report on Tuesday, May 13th. Finally, Scotiabank reduced their target price 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. Six investment analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. Based on data from MarketBeat, the stock presently has an average rating of "Hold" and an average price target of $179.20.

Simon Property Group Trading Down 1.0%

Shares of NYSE SPG traded down $1.61 during trading on Monday, hitting $160.50. 1,138,818 shares of the company were exchanged, compared to its average volume of 1,545,029. Simon Property Group, Inc. has a 12-month low of $136.34 and a 12-month high of $190.14. The company has a debt-to-equity ratio of 7.19, a quick ratio of 2.00 and a current ratio of 1.28. The company has a fifty day moving average price of $156.92 and a 200-day moving average price of $169.14. The firm has a market capitalization of $52.39 billion, a PE ratio of 22.11, a P/E/G 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 (EPS) 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 during the quarter, compared to analysts' expectations of $1.34 billion. During the same period last year, the business earned $3.56 earnings per share. Simon Property Group's revenue was up 2.1% compared to the same quarter last year. As a group, equities research analysts expect that Simon Property Group, Inc. will post 12.54 EPS for the current year.

Simon Property Group Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, June 30th. Shareholders of record on Monday, June 9th will be given a dividend of $2.10 per share. This represents a $8.40 dividend on an annualized basis and a dividend yield of 5.23%. The ex-dividend date of this dividend is Monday, June 9th. Simon Property Group's dividend payout ratio is presently 133.76%.

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.