Simon Property Group, Inc. (NYSE:SPG) Holdings Lifted by Breakwater Capital Group

Breakwater Capital Group increased its holdings in Simon Property Group, Inc. (NYSE:SPG) by 7.7% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 1,540 shares of the real estate investment trust’s stock after acquiring an additional 110 shares during the period. Breakwater Capital Group’s holdings in Simon Property Group were worth $256,000 at the end of the most recent reporting period.

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

Simon Property Group Price Performance

NYSE SPG opened at $162.19 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 stock’s 50-day moving average is $156.92 and its two-hundred day moving average is $169.31. The firm has a market cap of $52.94 billion, a P/E ratio of 22.34, a price-to-earnings-growth ratio of 10.10 and a beta of 1.43. The company has a debt-to-equity ratio of 7.19, a current ratio of 1.28 and a quick ratio of 2.00.

Simon Property Group (NYSE:SPG) last issued its quarterly earnings data on Monday, May 12th. The real estate investment trust reported $2.95 EPS for the quarter, beating 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 business had revenue of $1.47 billion for the quarter, compared to analyst estimates of $1.34 billion. During the same quarter in the prior year, the firm posted $3.56 EPS. The firm’s revenue for the quarter was up 2.1% on a year-over-year basis. On average, analysts anticipate that Simon Property Group, Inc. will post 12.54 earnings per share for the current fiscal year.

Simon Property Group Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Monday, June 30th. Shareholders 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 annualized dividend and a yield of 5.18%. Simon Property Group’s dividend payout ratio (DPR) is presently 133.76%.

Wall Street Analysts Forecast Growth

Several equities analysts have recently commented on the stock. Wall Street Zen cut shares of Simon Property Group from a “buy” rating to a “hold” rating in a report on Saturday, March 29th. Stifel Nicolaus lifted their price objective 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. JPMorgan Chase & Co. dropped their target price on Simon Property Group from $192.00 to $180.00 and set a “neutral” rating on the stock in a research report on Thursday, May 22nd. Piper Sandler reduced their price target on Simon Property Group from $205.00 to $200.00 and set an “overweight” rating for the company in a report on Friday, May 23rd. Finally, Scotiabank lowered their price target on 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. Six analysts have rated the stock with a hold rating and five have given a buy rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus target price of $179.20.

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.