Simon Property Group, Inc. (NYSE:SPG) is Vert Asset Management LLC's 3rd Largest Position

Vert Asset Management LLC cut its holdings in Simon Property Group, Inc. (NYSE:SPG - Free Report) by 1.6% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 123,422 shares of the real estate investment trust's stock after selling 1,976 shares during the period. Simon Property Group accounts for 7.0% of Vert Asset Management LLC's portfolio, making the stock its 3rd largest holding. Vert Asset Management LLC's holdings in Simon Property Group were worth $20,498,000 as of its most recent SEC filing.

Several other institutional investors have also added to or reduced their stakes in SPG. Hopwood Financial Services Inc. purchased a new stake in shares of Simon Property Group in the fourth quarter worth $28,000. WR Wealth Planners LLC increased its stake in shares of Simon Property Group by 328.2% in the fourth quarter. WR Wealth Planners LLC now owns 167 shares of the real estate investment trust's stock worth $29,000 after purchasing an additional 128 shares in the last quarter. New England Capital Financial Advisors LLC purchased a new stake in shares of Simon Property Group in the fourth quarter worth $30,000. Caisse Des Depots ET Consignations purchased a new stake in shares of Simon Property Group in the fourth quarter worth $31,000. Finally, TCTC Holdings LLC purchased a new stake in shares of Simon Property Group in the fourth quarter worth $34,000. 93.01% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

A number of analysts have recently issued reports on SPG shares. Scotiabank reduced 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 research note on Wednesday, April 23rd. Mizuho reduced their price objective on shares of Simon Property Group from $182.00 to $169.00 and set a "neutral" rating for the company in a research note on Tuesday. 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. JPMorgan Chase & Co. cut their target price on shares of Simon Property Group from $192.00 to $180.00 and set a "neutral" rating for the company in a research note on Thursday, May 22nd. Finally, Piper Sandler reduced 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 report on Friday, May 23rd. Six equities research analysts have rated the stock with a hold rating and five have given a buy rating to the company's stock. According to MarketBeat, Simon Property Group presently has a consensus rating of "Hold" and an average price target of $177.90.

Simon Property Group Price Performance

NYSE SPG traded down $1.27 on Wednesday, reaching $159.62. The company had a trading volume of 1,484,525 shares, compared to its average volume of 1,539,262. 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 capitalization of $52.10 billion, a PE ratio of 21.99, a price-to-earnings-growth ratio of 10.10 and a beta of 1.47. The firm's 50 day moving average price is $157.15 and its 200 day moving average price is $168.88. Simon Property Group, Inc. has a 12 month low of $136.34 and a 12 month high of $190.14.

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. Simon Property Group had a net margin of 41.49% and a return on equity of 74.02%. The business had revenue of $1.47 billion during the quarter, compared to analysts' expectations of $1.34 billion. During the same period last year, the company posted $3.56 EPS. The business's revenue was up 2.1% on a year-over-year basis. As a group, equities analysts predict that Simon Property Group, Inc. will post 12.54 earnings per share for the current year.

Simon Property Group Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, June 30th. Shareholders 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 dividend yield of 5.26%. Simon Property Group's 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.