Sigma Planning Corp Has $1.48 Million Holdings in Simon Property Group, Inc. (NYSE:SPG)

Sigma Planning Corp boosted its stake in shares of Simon Property Group, Inc. (NYSE:SPG - Free Report) by 52.2% during the first quarter, according to its most recent disclosure with the SEC. The institutional investor owned 8,886 shares of the real estate investment trust's stock after purchasing an additional 3,047 shares during the period. Sigma Planning Corp's holdings in Simon Property Group were worth $1,476,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Farther Finance Advisors LLC lifted its stake in Simon Property Group by 31.1% in the first quarter. Farther Finance Advisors LLC now owns 3,325 shares of the real estate investment trust's stock valued at $553,000 after acquiring an additional 789 shares during the last quarter. Golden State Wealth Management LLC lifted its stake in Simon Property Group by 193.5% in the first quarter. Golden State Wealth Management LLC now owns 772 shares of the real estate investment trust's stock valued at $128,000 after acquiring an additional 509 shares during the last quarter. Brighton Jones LLC acquired a new stake in Simon Property Group in the fourth quarter valued at approximately $295,000. Mirae Asset Global Investments Co. Ltd. lifted its stake in Simon Property Group by 8.7% in the first quarter. Mirae Asset Global Investments Co. Ltd. now owns 57,310 shares of the real estate investment trust's stock valued at $9,415,000 after acquiring an additional 4,589 shares during the last quarter. Finally, USA Financial Formulas acquired a new stake in Simon Property Group in the first quarter valued at approximately $717,000. 93.01% of the stock is owned by hedge funds and other institutional investors.

Simon Property Group Stock Performance

NYSE:SPG traded down $0.03 during trading hours on Friday, hitting $162.70. 949,874 shares of the company traded hands, compared to its average volume of 1,543,902. The stock has a market capitalization of $53.11 billion, a price-to-earnings ratio of 25.91, a P/E/G ratio of 10.89 and a beta of 1.43. Simon Property Group, Inc. has a twelve month low of $136.34 and a twelve month high of $190.14. The firm has a 50-day moving average of $161.33 and a 200 day moving average of $165.83. The company has a current ratio of 1.45, a quick ratio of 1.45 and a debt-to-equity ratio of 8.29.

Simon Property Group (NYSE:SPG - Get Free Report) last announced its quarterly 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. The firm had revenue of $1.47 billion for the quarter, compared to analyst estimates of $1.34 billion. Simon Property Group had a net margin of 35.98% and a return on equity of 67.32%. The business's revenue for the quarter was up 2.1% on a year-over-year basis. During the same quarter in the previous year, the firm posted $3.56 EPS. On average, analysts forecast that Simon Property Group, Inc. will post 12.54 EPS for the current year.

Simon Property Group Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Monday, June 30th. Shareholders of record on Monday, June 9th were issued a $2.10 dividend. This represents a $8.40 annualized dividend and a yield of 5.16%. 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 Larry C. Glasscock purchased 396 shares of the stock in a transaction on Monday, June 30th. The shares were purchased at an average price of $159.29 per share, with a total value of $63,078.84. Following the acquisition, the director directly owned 43,185 shares of the company's stock, valued at $6,878,938.65. This represents a 0.93% increase in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, Director Gary M. Rodkin bought 246 shares of the stock in a transaction dated Monday, June 30th. The stock was purchased at an average cost of $159.29 per share, for a total transaction of $39,185.34. Following the acquisition, the director owned 19,010 shares in the company, valued at $3,028,102.90. The trade was a 1.31% increase in their position. The disclosure for this purchase can be found here. Over the last three months, insiders have purchased 2,386 shares of company stock worth $380,066. 8.66% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

A number of analysts have issued reports on the stock. Piper Sandler reduced their target price on shares of Simon Property Group from $205.00 to $200.00 and set an "overweight" rating for the company in a research note on Friday, May 23rd. Barclays started coverage on shares of Simon Property Group in a research note on Wednesday, July 2nd. They issued an "equal weight" rating and a $170.00 price objective for the company. 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 research note on Tuesday, June 17th. 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. Finally, LADENBURG THALM/SH SH started coverage on shares of Simon Property Group in a research note on Friday. They issued a "buy" rating and a $225.00 price objective for the company. Seven investment analysts have rated the stock with a hold rating and five have given a buy rating to the company's stock. Based on data from MarketBeat, Simon Property Group presently has a consensus rating of "Hold" and a consensus price target of $182.73.

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.