Signet Financial Management LLC Has $1.98 Million Stock Holdings in Simon Property Group, Inc. (NYSE:SPG)

Signet Financial Management LLC grew its position in Simon Property Group, Inc. (NYSE:SPG) by 0.7% during the 1st quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 11,894 shares of the real estate investment trust’s stock after purchasing an additional 83 shares during the period. Signet Financial Management LLC’s holdings in Simon Property Group were worth $1,975,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds also recently made changes to their positions in the company. Asset Management One Co. Ltd. lifted its position in Simon Property Group by 0.7% during the 4th quarter. Asset Management One Co. Ltd. now owns 587,933 shares of the real estate investment trust’s stock worth $101,130,000 after buying an additional 3,990 shares in the last quarter. Brighton Jones LLC acquired a new position in Simon Property Group during the 4th quarter worth about $295,000. Allworth Financial LP lifted its position in Simon Property Group by 140.6% during the 4th quarter. Allworth Financial LP now owns 3,152 shares of the real estate investment trust’s stock worth $545,000 after buying an additional 1,842 shares in the last quarter. Principal Securities Inc. lifted its position in Simon Property Group by 4.2% during the 4th quarter. Principal Securities Inc. now owns 4,140 shares of the real estate investment trust’s stock worth $713,000 after buying an additional 166 shares in the last quarter. Finally, PNC Financial Services Group Inc. lifted its position in Simon Property Group by 7.7% during the 4th quarter. PNC Financial Services Group Inc. now owns 361,893 shares of the real estate investment trust’s stock worth $62,322,000 after buying an additional 25,987 shares in the last quarter. Institutional investors and hedge funds own 93.01% of the company’s stock.

Simon Property Group Stock Performance

Shares of SPG stock opened at $160.50 on Tuesday. 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 cap of $52.39 billion, a PE ratio of 22.11, a price-to-earnings-growth ratio of 10.10 and a beta of 1.47. The stock has a 50-day moving average of $156.72 and a 200-day moving average of $169.00. Simon Property Group, Inc. has a one year low of $136.34 and a one year high of $190.14.

Simon Property Group (NYSE:SPG) last announced its quarterly earnings results 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. The company had revenue of $1.47 billion during the quarter, compared to analysts’ expectations of $1.34 billion. Simon Property Group had a return on equity of 74.02% and a net margin of 41.49%. Simon Property Group’s revenue was up 2.1% on a year-over-year basis. During the same period in the prior year, the business posted $3.56 EPS. As a group, sell-side analysts expect that Simon Property Group, Inc. will post 12.54 earnings per share for the current year.

Simon Property Group Dividend Announcement

The business also recently declared 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 is Monday, June 9th. This represents a $8.40 dividend on an annualized basis and a dividend yield of 5.23%. Simon Property Group’s dividend payout ratio (DPR) is presently 133.76%.

Analyst Upgrades and Downgrades

Several research analysts recently issued reports on the stock. Wall Street Zen downgraded shares of Simon Property Group from a “buy” rating to a “hold” rating in a research report on Saturday, March 29th. Stifel Nicolaus upped 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 report on Tuesday, May 13th. Piper Sandler reduced their price target on shares of 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. Scotiabank dropped their price objective on Simon Property Group from $186.00 to $159.00 and set a “sector perform” rating for the company in a report on Wednesday, April 23rd. Finally, JPMorgan Chase & Co. dropped their price objective on Simon Property Group from $192.00 to $180.00 and set a “neutral” rating for the company in a report on Thursday, May 22nd. Six analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. Based on data from MarketBeat, the stock presently 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.