NorthRock Partners LLC Raises Stock Holdings in Simon Property Group, Inc. (NYSE:SPG)

NorthRock Partners LLC grew its position in shares of Simon Property Group, Inc. (NYSE:SPG) by 116.5% in the fourth quarter, according to its most recent filing with the SEC. The fund owned 4,531 shares of the real estate investment trust’s stock after acquiring an additional 2,438 shares during the quarter. NorthRock Partners LLC’s holdings in Simon Property Group were worth $780,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently modified their holdings of SPG. Hopwood Financial Services Inc. bought a new position in Simon Property Group during the fourth quarter valued at $28,000. WR Wealth Planners LLC increased its holdings in shares of Simon Property Group by 328.2% in the 4th quarter. WR Wealth Planners LLC now owns 167 shares of the real estate investment trust’s stock worth $29,000 after buying an additional 128 shares during the last quarter. New England Capital Financial Advisors LLC purchased a new stake in shares of Simon Property Group during the 4th quarter valued at about $30,000. Caisse Des Depots ET Consignations bought a new position in shares of Simon Property Group in the 4th quarter valued at about $31,000. Finally, TCTC Holdings LLC bought a new position in shares of Simon Property Group in the 4th quarter valued at about $34,000. 93.01% of the stock is owned by hedge funds and other institutional investors.

Simon Property Group Trading Up 1.1%

Shares of NYSE SPG opened at $162.90 on Friday. 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 debt-to-equity ratio of 7.19, a quick ratio of 2.00 and a current ratio of 1.28. The company has a market cap of $53.15 billion, a price-to-earnings ratio of 22.44, a PEG ratio of 10.10 and a beta of 1.43. The business’s 50 day moving average price is $158.06 and its 200-day moving average price is $170.94.

Simon Property Group (NYSE:SPG) last announced its quarterly earnings data on Monday, May 12th. The real estate investment trust reported $2.95 EPS for the quarter, beating 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 for the quarter, compared to the consensus estimate of $1.34 billion. During the same quarter in the prior year, the company posted $3.56 EPS. Simon Property Group’s quarterly revenue was up 2.1% on a year-over-year basis. On average, sell-side analysts expect 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. Investors of record on Monday, June 9th will be issued a dividend of $2.10 per share. The ex-dividend date is Monday, June 9th. This represents a $8.40 dividend on an annualized basis and a yield of 5.16%. Simon Property Group’s payout ratio is 115.70%.

Analyst Ratings Changes

Several equities research analysts have weighed in on SPG shares. StockNews.com cut Simon Property Group from a “buy” rating to a “hold” rating in a research note on Saturday, March 29th. Stifel Nicolaus lifted their target price on Simon Property Group from $168.50 to $180.00 and gave the stock a “buy” rating in a report on Tuesday. Scotiabank decreased their price target on 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, Piper Sandler upgraded Simon Property Group from a “neutral” rating to an “overweight” rating and raised their price target for the stock from $175.00 to $205.00 in a research report on Wednesday, February 5th. Five equities research analysts have rated the stock with a hold rating and five have issued a buy rating to the company. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $179.67.

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.