4,317 Shares in Simon Property Group, Inc. (NYSE:SPG) Acquired by USA Financial Formulas

USA Financial Formulas acquired a new position in Simon Property Group, Inc. (NYSE:SPG - Free Report) during the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 4,317 shares of the real estate investment trust's stock, valued at approximately $717,000.

A number of other hedge funds have also recently added to or reduced their stakes in the company. Asset Management One Co. Ltd. raised its holdings in shares of Simon Property Group by 0.7% during the 4th quarter. Asset Management One Co. Ltd. now owns 587,933 shares of the real estate investment trust's stock valued at $101,130,000 after purchasing an additional 3,990 shares in the last quarter. Brighton Jones LLC bought a new stake in Simon Property Group in the fourth quarter worth $295,000. Allworth Financial LP increased its position in Simon Property Group by 140.6% during the fourth quarter. Allworth Financial LP now owns 3,152 shares of the real estate investment trust's stock worth $545,000 after buying an additional 1,842 shares during the last quarter. Principal Securities Inc. raised its holdings in Simon Property Group by 4.2% during the fourth quarter. Principal Securities Inc. now owns 4,140 shares of the real estate investment trust's stock valued at $713,000 after buying an additional 166 shares in the last quarter. Finally, PNC Financial Services Group Inc. lifted its position in shares of Simon Property Group by 7.7% in the fourth quarter. PNC Financial Services Group Inc. now owns 361,893 shares of the real estate investment trust's stock worth $62,322,000 after buying an additional 25,987 shares during the last quarter. Institutional investors and hedge funds own 93.01% of the company's stock.

Wall Street Analyst Weigh In

A number of research analysts have recently commented on the company. JPMorgan Chase & Co. lowered their price objective on Simon Property Group from $192.00 to $180.00 and set a "neutral" rating on the stock in a report on Thursday, May 22nd. Mizuho decreased their target price on Simon Property Group from $182.00 to $169.00 and set a "neutral" rating for the company in a research report on Tuesday. Wall Street Zen downgraded Simon Property Group from a "buy" rating to a "hold" rating in a report on Saturday, March 29th. Piper Sandler dropped their price target on shares of Simon Property Group from $205.00 to $200.00 and set an "overweight" rating on the stock in a research report on Friday, May 23rd. Finally, Scotiabank decreased their price objective on shares of Simon Property Group from $186.00 to $159.00 and set a "sector perform" rating for the company in a report on Wednesday, April 23rd. Six analysts have rated the stock with a hold rating and four have assigned a buy rating to the company's stock. Based on data from MarketBeat.com, the stock presently has an average rating of "Hold" and an average target price of $179.00.

Simon Property Group Stock Performance

NYSE SPG traded down $2.12 during midday trading on Friday, hitting $156.67. The company had a trading volume of 2,090,688 shares, compared to its average volume of 1,540,449. The firm has a fifty day simple moving average of $157.45 and a two-hundred day simple moving average of $168.73. Simon Property Group, Inc. has a fifty-two week low of $136.34 and a fifty-two week high of $190.14. The company has a quick ratio of 2.00, a current ratio of 1.28 and a debt-to-equity ratio of 7.19. The stock has a market cap of $51.14 billion, a price-to-earnings ratio of 21.58, a P/E/G ratio of 10.10 and a beta of 1.47.

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, 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 return on equity of 74.02% and a net margin of 41.49%. The company's quarterly revenue was up 2.1% compared to the same quarter last year. During the same period in the previous year, the company posted $3.56 earnings per share. Equities analysts forecast that Simon Property Group, Inc. will post 12.54 earnings per share for the current fiscal year.

Simon Property Group Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, June 30th. Shareholders of record on Monday, June 9th will be issued a $2.10 dividend. This represents a $8.40 annualized dividend and a yield of 5.36%. The ex-dividend date of this dividend is Monday, June 9th. Simon Property Group's dividend payout ratio (DPR) is presently 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.