NorthRock Partners LLC Boosts Stake in Simon Property Group, Inc. (NYSE:SPG)

NorthRock Partners LLC raised its stake in shares of Simon Property Group, Inc. (NYSE:SPG - Free Report) by 116.5% during the 4th quarter, according to the company in its most recent filing with the SEC. The firm owned 4,531 shares of the real estate investment trust's stock after purchasing an additional 2,438 shares during the quarter. NorthRock Partners LLC's holdings in Simon Property Group were worth $780,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the company. Pitcairn Co. raised its stake in Simon Property Group by 0.6% during the 4th quarter. Pitcairn Co. now owns 9,895 shares of the real estate investment trust's stock worth $1,704,000 after buying an additional 55 shares during the period. Colonial Trust Co SC increased its holdings in Simon Property Group by 37.5% during the fourth 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. Childress Capital Advisors LLC lifted its stake in Simon Property Group by 3.6% in the 4th quarter. Childress Capital Advisors LLC now owns 1,689 shares of the real estate investment trust's stock valued at $291,000 after purchasing an additional 58 shares during the last quarter. Global X Japan Co. Ltd. boosted its stake in shares of Simon Property Group by 9.9% during the 4th quarter. Global X Japan Co. Ltd. now owns 655 shares of the real estate investment trust's stock worth $113,000 after acquiring an additional 59 shares during the period. Finally, HighPoint Advisor Group LLC boosted its position in Simon Property Group by 1.8% during the fourth quarter. HighPoint Advisor Group LLC now owns 3,396 shares of the real estate investment trust's stock worth $626,000 after purchasing an additional 60 shares during the period. 93.01% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

A number of equities research analysts have recently weighed in on SPG shares. Scotiabank dropped 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. StockNews.com cut Simon Property Group from a "buy" rating to a "hold" rating in a report on Saturday, March 29th. Piper Sandler upgraded shares of Simon Property Group from a "neutral" rating to an "overweight" rating and boosted their price target for the stock from $175.00 to $205.00 in a research report on Wednesday, February 5th. Finally, Stifel Nicolaus increased their price objective on shares of Simon Property Group from $168.50 to $180.00 and gave the stock a "buy" rating in a research report on Tuesday, May 13th. Five equities research analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. According to data from MarketBeat, the company has a consensus rating of "Moderate Buy" and a consensus target price of $179.67.

Simon Property Group Stock Performance

Shares of Simon Property Group stock traded down $1.87 during trading hours on Wednesday, hitting $161.07. 398,894 shares of the company's stock traded hands, compared to its average volume of 1,529,033. The company has a fifty day simple moving average of $158.13 and a 200-day simple moving average of $170.81. 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 stock has a market capitalization of $52.58 billion, a price-to-earnings ratio of 22.19, a PEG ratio of 10.10 and a beta of 1.43. 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 announced its quarterly earnings data on Monday, May 12th. The real estate investment trust reported $2.95 earnings per share for the quarter, topping the consensus estimate of $2.91 by $0.04. Simon Property Group had a return on equity of 74.02% and a net margin of 41.49%. The company had revenue of $1.47 billion during the quarter, compared to analyst estimates of $1.34 billion. During the same quarter last year, the firm posted $3.56 EPS. The firm's revenue for the quarter was up 2.1% on a year-over-year basis. Equities research analysts anticipate that Simon Property Group, Inc. will post 12.54 EPS for the current fiscal year.

Simon Property Group Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Monday, June 30th. Stockholders of record on Monday, June 9th will be issued a $2.10 dividend. The ex-dividend date of this dividend is Monday, June 9th. This represents a $8.40 annualized dividend and a dividend yield of 5.22%. Simon Property Group's payout ratio is currently 133.76%.

Simon Property Group 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.