Everhart Financial Group Inc. Has $644,000 Stock Position in Simon Property Group, Inc. (NYSE:SPG)

Everhart Financial Group Inc. raised its holdings in Simon Property Group, Inc. (NYSE:SPG) by 9.0% during the first quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 3,878 shares of the real estate investment trust’s stock after purchasing an additional 320 shares during the quarter. Everhart Financial Group Inc.’s holdings in Simon Property Group were worth $644,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently modified their holdings of the business. Hopwood Financial Services Inc. acquired a new position in Simon Property Group during the 4th quarter worth approximately $28,000. WR Wealth Planners LLC increased its holdings in shares of 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 worth $29,000 after buying an additional 128 shares in the last quarter. New England Capital Financial Advisors LLC bought a new position in shares of Simon Property Group in the 4th quarter valued at $30,000. Caisse Des Depots ET Consignations bought a new position in shares of Simon Property Group in the 4th quarter valued at $31,000. Finally, TCTC Holdings LLC acquired a new stake in shares of Simon Property Group during the 4th quarter valued at $34,000. Institutional investors own 93.01% of the company’s stock.

Simon Property Group Stock Performance

NYSE:SPG opened at $156.67 on Friday. The company has a debt-to-equity ratio of 7.19, a quick ratio of 2.00 and a current ratio of 1.28. 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 50 day simple moving average of $157.80 and a two-hundred day simple moving average of $168.55. The company has a market capitalization of $51.14 billion, a PE ratio of 21.58, a P/E/G ratio of 10.10 and a beta of 1.47.

Simon Property Group (NYSE:SPG) last posted its quarterly earnings data on Monday, May 12th. The real estate investment trust reported $2.95 earnings per share for the quarter, topping the consensus estimate 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 net margin of 41.49% and a return on equity of 74.02%. Simon Property Group’s revenue for the quarter was up 2.1% compared to the same quarter last year. During the same period in the prior year, the company posted $3.56 earnings per share. Research analysts anticipate that Simon Property Group, Inc. will post 12.54 earnings per share for the current year.

Simon Property Group Announces Dividend

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 paid a $2.10 dividend. This represents a $8.40 dividend on an annualized basis and a dividend yield of 5.36%. The ex-dividend date of this dividend is Monday, June 9th. Simon Property Group’s dividend payout ratio is 133.76%.

Analysts Set New Price Targets

A number of brokerages have issued reports on SPG. Wall Street Zen cut Simon Property Group from a “buy” rating to a “hold” rating in a report on Saturday, March 29th. Mizuho lowered their price objective on Simon Property Group from $182.00 to $169.00 and set a “neutral” rating for the company in a research note on Tuesday. Piper Sandler dropped their price objective on shares of Simon Property Group from $205.00 to $200.00 and set an “overweight” rating for the company in a report on Friday, May 23rd. Stifel Nicolaus boosted their target price on shares of Simon Property Group from $168.50 to $180.00 and gave the stock a “buy” rating in a report on Tuesday, May 13th. Finally, JPMorgan Chase & Co. decreased 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 report on Thursday, May 22nd. Six equities research analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus target price of $179.00.

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.