Versant Capital Management Inc Increases Stock Holdings in Simon Property Group, Inc. (NYSE:SPG)

Versant Capital Management Inc boosted its holdings in shares of Simon Property Group, Inc. (NYSE:SPG) by 93.6% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,934 shares of the real estate investment trust’s stock after buying an additional 935 shares during the period. Versant Capital Management Inc’s holdings in Simon Property Group were worth $321,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

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

Simon Property Group Stock Down 0.2%

Simon Property Group stock opened at $162.98 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 $53.20 billion, a PE ratio of 22.45, a PEG ratio of 10.10 and a beta of 1.43. The business’s 50-day simple moving average is $157.36 and its two-hundred day simple moving average is $169.87.

Simon Property Group (NYSE:SPG) last issued its earnings results 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 return on equity of 74.02% and a net margin of 41.49%. The firm 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 business earned $3.56 earnings per share. The company’s revenue was up 2.1% compared to the same quarter last year. Equities analysts anticipate that Simon Property Group, Inc. will post 12.54 EPS for the current year.

Simon Property Group Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, June 30th. Stockholders of record on Monday, June 9th will be paid a $2.10 dividend. The ex-dividend date of this dividend is Monday, June 9th. This represents a $8.40 dividend on an annualized basis and a dividend yield of 5.15%. Simon Property Group’s payout ratio is 133.76%.

Analyst Ratings Changes

Several research analysts recently issued reports on the company. Piper Sandler reduced their target price on 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. Stifel Nicolaus upped their target price on Simon Property Group from $168.50 to $180.00 and gave the company a “buy” rating in a research report on Tuesday, May 13th. Wall Street Zen lowered Simon Property Group from a “buy” rating to a “hold” rating in a research report on Saturday, March 29th. Scotiabank dropped their price target on Simon Property Group from $186.00 to $159.00 and set a “sector perform” rating on the stock in a research note on Wednesday, April 23rd. Finally, JPMorgan Chase & Co. dropped their price target on Simon Property Group from $192.00 to $180.00 and set a “neutral” rating on the stock in a research note on Thursday, May 22nd. Six 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 company presently has a consensus rating of “Hold” and a consensus target price of $179.20.

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.