Diligent Investors LLC Has $2.04 Million Position in Simon Property Group, Inc. (NYSE:SPG)

Diligent Investors LLC cut its position in Simon Property Group, Inc. (NYSE:SPG) by 10.2% during the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 12,278 shares of the real estate investment trust’s stock after selling 1,395 shares during the period. Diligent Investors LLC’s holdings in Simon Property Group were worth $2,039,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Hopwood Financial Services Inc. acquired a new position in Simon Property Group in the fourth quarter valued at about $28,000. WR Wealth Planners LLC raised 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 acquiring an additional 128 shares during the last quarter. New England Capital Financial Advisors LLC bought a new position in shares of Simon Property Group in the fourth quarter worth about $30,000. Caisse Des Depots ET Consignations bought a new position in shares of Simon Property Group in the fourth quarter worth about $31,000. Finally, TCTC Holdings LLC bought a new position in shares of Simon Property Group in the fourth quarter worth about $34,000. 93.01% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

SPG has been the subject of a number of recent research reports. Piper Sandler dropped their price target on shares of Simon Property Group from $205.00 to $200.00 and set an “overweight” rating for the company in a research note on Friday, May 23rd. JPMorgan Chase & Co. dropped their price target 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. 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 note on Wednesday, April 23rd. Wall Street Zen downgraded shares of Simon Property Group from a “buy” rating to a “hold” rating in a research note on Saturday, March 29th. Finally, Stifel Nicolaus boosted their price target on shares of Simon Property Group from $168.50 to $180.00 and gave the stock a “buy” rating in a research note on Tuesday, May 13th. Six research analysts have rated the stock with a hold rating and five have given a buy rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus target price of $179.20.

Simon Property Group Stock Up 0.0%

Simon Property Group stock opened at $161.80 on Thursday. The stock has a market capitalization of $52.82 billion, a PE ratio of 22.29, a price-to-earnings-growth ratio of 10.10 and a beta of 1.43. Simon Property Group, Inc. has a twelve month low of $136.34 and a twelve month 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 company has a 50 day moving average of $157.12 and a 200-day moving average of $169.58.

Simon Property Group (NYSE:SPG) last released its quarterly earnings results on Monday, May 12th. The real estate investment trust reported $2.95 earnings per share for the quarter, beating the consensus estimate 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 company had revenue of $1.47 billion during the quarter, compared to analysts’ expectations of $1.34 billion. During the same quarter in the prior year, the company earned $3.56 earnings per share. The business’s quarterly revenue was up 2.1% compared to the same quarter last year. On average, 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 firm also recently disclosed a quarterly dividend, which will be paid on Monday, June 30th. Stockholders of record on Monday, June 9th will be given a $2.10 dividend. This represents a $8.40 dividend on an annualized basis and a dividend yield of 5.19%. The ex-dividend date of this dividend is Monday, June 9th. Simon Property Group’s dividend payout ratio is presently 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.