Integrated Advisors Network LLC Increases Stock Position in Simon Property Group, Inc. (NYSE:SPG)

Integrated Advisors Network LLC increased its position in Simon Property Group, Inc. (NYSE:SPG) by 4.8% in the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 19,764 shares of the real estate investment trust’s stock after acquiring an additional 903 shares during the period. Integrated Advisors Network LLC’s holdings in Simon Property Group were worth $3,282,000 at the end of the most recent reporting period.

A number of other hedge funds also recently added to or reduced their stakes in the company. Pitcairn Co. raised its holdings in Simon Property Group by 0.6% in the 4th quarter. Pitcairn Co. now owns 9,895 shares of the real estate investment trust’s stock worth $1,704,000 after acquiring an additional 55 shares during the last quarter. Colonial Trust Co SC grew its position in Simon Property Group by 37.5% in the 4th quarter. Colonial Trust Co SC now owns 209 shares of the real estate investment trust’s stock worth $36,000 after purchasing an additional 57 shares during the period. HighPoint Advisor Group LLC grew its position in Simon Property Group by 1.8% in the 4th quarter. HighPoint Advisor Group LLC now owns 3,396 shares of the real estate investment trust’s stock worth $626,000 after purchasing an additional 60 shares during the period. Financial Management Network Inc. grew its position in Simon Property Group by 0.4% in the 4th quarter. Financial Management Network Inc. now owns 15,147 shares of the real estate investment trust’s stock worth $2,667,000 after purchasing an additional 67 shares during the period. Finally, Vestmark Advisory Solutions Inc. grew its position in Simon Property Group by 1.4% in the 4th quarter. Vestmark Advisory Solutions Inc. now owns 5,015 shares of the real estate investment trust’s stock worth $864,000 after purchasing an additional 70 shares during the period. 93.01% of the stock is currently owned by hedge funds and other institutional investors.

Simon Property Group Trading Down 0.8%

Shares of SPG stock opened at $159.62 on Thursday. Simon Property Group, Inc. has a 1 year low of $136.34 and a 1 year high of $190.14. 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 company has a market cap of $52.10 billion, a price-to-earnings ratio of 21.99, a PEG ratio of 10.10 and a beta of 1.47. The firm has a fifty day moving average price of $157.15 and a 200-day moving average price of $168.88.

Simon Property Group (NYSE:SPG) last released 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 net margin of 41.49% and a return on equity of 74.02%. The business had revenue of $1.47 billion during the quarter, compared to the consensus estimate of $1.34 billion. During the same quarter in the prior year, the firm earned $3.56 EPS. The business’s revenue was up 2.1% on a year-over-year basis. As a group, equities analysts predict that Simon Property Group, Inc. will post 12.54 earnings per share for the current year.

Simon Property Group Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Monday, June 30th. Shareholders of record on Monday, June 9th will be paid a $2.10 dividend. This represents a $8.40 annualized dividend and a yield of 5.26%. The ex-dividend date is Monday, June 9th. Simon Property Group’s payout ratio is currently 133.76%.

Wall Street Analyst Weigh In

A number of equities research analysts have commented on SPG shares. Mizuho cut their target price on shares of Simon Property Group from $182.00 to $169.00 and set a “neutral” rating for the company in a research report on Tuesday. Scotiabank cut their target price on shares of Simon Property Group from $186.00 to $159.00 and set a “sector perform” rating for the company in a research report on Wednesday, April 23rd. Stifel Nicolaus lifted their target price 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 cut their target price on shares of Simon Property Group from $205.00 to $200.00 and set an “overweight” rating for the company in a research report on Friday, May 23rd. Finally, JPMorgan Chase & Co. cut their target price on shares of Simon Property Group from $192.00 to $180.00 and set a “neutral” rating for the company in a research report on Thursday, May 22nd. Six investment analysts have rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus price target of $179.00.

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.