GAMMA Investing LLC Grows Position in Simon Property Group, Inc. (NYSE:SPG)

GAMMA Investing LLC boosted its position in Simon Property Group, Inc. (NYSE:SPG - Free Report) by 16,346.0% in the 1st quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 876,736 shares of the real estate investment trust's stock after purchasing an additional 871,405 shares during the quarter. GAMMA Investing LLC owned about 0.27% of Simon Property Group worth $145,608,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Asset Management One Co. Ltd. lifted its stake in shares of Simon Property Group by 0.7% in 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 buying an additional 3,990 shares in the last quarter. Brighton Jones LLC purchased a new position in Simon Property Group in the 4th quarter worth approximately $295,000. Allworth Financial LP boosted its holdings 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 stake in shares of Simon Property Group in the fourth quarter valued at approximately $274,000. Finally, Principal Securities Inc. increased its holdings in shares of Simon Property Group by 4.2% in the fourth quarter. Principal Securities Inc. now owns 4,140 shares of the real estate investment trust's stock valued at $713,000 after purchasing an additional 166 shares during the last quarter. Hedge funds and other institutional investors own 93.01% of the company's stock.

Analyst Ratings Changes

Several analysts have issued reports on the company. Wall Street Zen cut Simon Property Group from a "buy" rating to a "hold" rating in a report on Saturday, March 29th. Piper Sandler dropped their price objective on shares of Simon Property Group from $205.00 to $200.00 and set an "overweight" rating for the company in a report on Friday, May 23rd. Stifel Nicolaus lifted their target price on shares of Simon Property Group from $168.50 to $180.00 and gave the stock a "buy" rating in a research note on Tuesday, May 13th. Scotiabank decreased their target price on shares of Simon Property Group from $186.00 to $159.00 and set a "sector perform" rating on the stock in a report on Wednesday, April 23rd. Finally, JPMorgan Chase & Co. cut 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 report on Thursday, May 22nd. Six equities research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company's stock. According to data from MarketBeat, Simon Property Group presently has a consensus rating of "Hold" and an average target price of $179.20.

Simon Property Group Trading Up 0.2%

Shares of SPG stock traded up $0.40 on Wednesday, hitting $162.18. The stock had a trading volume of 528,029 shares, compared to its average volume of 1,547,958. The company's 50 day moving average price is $157.17 and its 200-day moving average price is $169.64. Simon Property Group, Inc. has a 1 year low of $136.34 and a 1 year high of $190.14. The company has a debt-to-equity ratio of 7.19, a current ratio of 1.28 and a quick ratio of 2.00. The firm has a market capitalization of $52.94 billion, a P/E ratio of 22.34, a P/E/G ratio of 10.10 and a beta of 1.43.

Simon Property Group (NYSE:SPG - Get Free Report) last issued its quarterly earnings results 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. 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 quarterly revenue was up 2.1% on a year-over-year basis. During the same quarter in the prior year, the company earned $3.56 earnings per share. Analysts anticipate that Simon Property Group, Inc. will post 12.54 earnings per share for the current year.

Simon Property Group Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, June 30th. Stockholders 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 5.18%. The ex-dividend date is Monday, June 9th. Simon Property Group's dividend payout ratio is currently 133.76%.

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.