Simon Property Group, Inc. (NYSE:SPG) Shares Purchased by SG Americas Securities LLC

SG Americas Securities LLC lifted its stake in Simon Property Group, Inc. (NYSE:SPG - Free Report) by 782.1% in the 1st quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 63,080 shares of the real estate investment trust's stock after purchasing an additional 55,929 shares during the quarter. SG Americas Securities LLC's holdings in Simon Property Group were worth $10,476,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently modified their holdings of the stock. Pitcairn Co. raised its position in shares of Simon Property Group by 0.6% in the 4th quarter. Pitcairn Co. now owns 9,895 shares of the real estate investment trust's stock valued at $1,704,000 after purchasing an additional 55 shares during the last quarter. Colonial Trust Co SC raised its position in Simon Property Group by 37.5% during the 4th quarter. Colonial Trust Co SC now owns 209 shares of the real estate investment trust's stock worth $36,000 after buying an additional 57 shares during the last quarter. HighPoint Advisor Group LLC raised its position in Simon Property Group by 1.8% during the 4th quarter. HighPoint Advisor Group LLC now owns 3,396 shares of the real estate investment trust's stock worth $626,000 after buying an additional 60 shares during the last quarter. Financial Management Network Inc. raised its position in Simon Property Group by 0.4% during the 4th quarter. Financial Management Network Inc. now owns 15,147 shares of the real estate investment trust's stock worth $2,667,000 after buying an additional 67 shares during the last quarter. Finally, Vestmark Advisory Solutions Inc. raised its position in Simon Property Group by 1.4% during the 4th quarter. Vestmark Advisory Solutions Inc. now owns 5,015 shares of the real estate investment trust's stock worth $864,000 after buying an additional 70 shares during the last quarter. 93.01% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of research firms have issued reports on SPG. JPMorgan Chase & Co. reduced their price target on shares of Simon Property Group from $192.00 to $180.00 and set a "neutral" rating for the company in a research report on Thursday, May 22nd. Scotiabank reduced their price target 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. Mizuho reduced their price target on shares of Simon Property Group from $182.00 to $169.00 and set a "neutral" rating for the company in a research report on Tuesday, June 10th. Wall Street Zen lowered shares of Simon Property Group from a "buy" rating to a "hold" rating in a research report on Saturday, March 29th. Finally, Piper Sandler reduced their price target on shares of Simon Property Group from $205.00 to $200.00 and set an "overweight" rating for the company in a research report on Friday, May 23rd. Six investment analysts have rated the stock with a hold rating and four have given a buy rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of "Hold" and an average target price of $179.00.

Simon Property Group Stock Performance

Shares of NYSE SPG traded down $2.12 during midday trading on Friday, reaching $156.67. 2,090,688 shares of the stock were exchanged, compared to its average volume of 1,543,297. The firm has a market cap of $51.14 billion, a price-to-earnings ratio of 21.58, a PEG ratio of 10.10 and a beta of 1.47. 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 simple moving average of $157.80 and a two-hundred day simple moving average of $168.44. The company has a quick ratio of 2.00, a current ratio of 1.28 and a debt-to-equity ratio of 7.19.

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 analysts' consensus estimates of $2.91 by $0.04. The business had revenue of $1.47 billion for the quarter, compared to analysts' expectations of $1.34 billion. Simon Property Group had a net margin of 41.49% and a return on equity of 74.02%. The business's revenue was up 2.1% on a year-over-year basis. During the same quarter last year, the company earned $3.56 EPS. As a group, analysts anticipate that Simon Property Group, Inc. will post 12.54 EPS for the current fiscal 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 paid a $2.10 dividend. The ex-dividend date is Monday, June 9th. This represents a $8.40 dividend on an annualized basis and a yield of 5.36%. Simon Property Group's dividend payout ratio is currently 133.76%.

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.