Berry Wealth Group LP Makes New $226,000 Investment in Simon Property Group, Inc. (NYSE:SPG)

Berry Wealth Group LP purchased a new stake in shares of Simon Property Group, Inc. (NYSE:SPG) during the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm purchased 1,359 shares of the real estate investment trust’s stock, valued at approximately $226,000.

Several other institutional investors and hedge funds have also modified their holdings of the business. Hopwood Financial Services Inc. acquired a new position in Simon Property Group during the fourth quarter valued at approximately $28,000. WR Wealth Planners LLC raised its holdings in Simon Property Group by 328.2% in the 4th 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 period. Caisse Des Depots ET Consignations acquired a new stake in shares of Simon Property Group in the fourth quarter valued at about $31,000. Continuum Advisory LLC increased its stake in shares of Simon Property Group by 421.6% in the first quarter. Continuum Advisory LLC now owns 193 shares of the real estate investment trust’s stock worth $32,000 after purchasing an additional 156 shares during the period. Finally, TCTC Holdings LLC acquired a new position in shares of Simon Property Group during the 4th quarter worth about $34,000. Institutional investors and hedge funds own 93.01% of the company’s stock.

Wall Street Analyst Weigh In

SPG has been the subject of several research reports. Mizuho reduced their price objective on Simon Property Group from $182.00 to $169.00 and set a “neutral” rating for the company in a research report on Tuesday, June 10th. Stifel Nicolaus boosted their price objective 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. Scotiabank increased their target price on shares of Simon Property Group from $159.00 to $163.00 and gave the company a “sector perform” rating in a research note on Tuesday, June 17th. JPMorgan Chase & Co. decreased 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. Finally, Piper Sandler lowered their price target on Simon Property Group from $205.00 to $200.00 and set an “overweight” rating on the stock in a research note on Friday, May 23rd. Six research analysts have rated the stock with a hold rating and four have given a buy rating to the company. According to MarketBeat, the stock presently has an average rating of “Hold” and a consensus target price of $179.44.

Simon Property Group Price Performance

Shares of Simon Property Group stock opened at $159.01 on Tuesday. The stock has a market capitalization of $51.90 billion, a price-to-earnings ratio of 25.32, a P/E/G ratio of 8.77 and a beta of 1.47. The company has a current ratio of 1.45, a quick ratio of 1.45 and a debt-to-equity ratio of 8.29. Simon Property Group, Inc. has a 1-year low of $136.34 and a 1-year high of $190.14. The firm’s 50-day moving average price is $158.87 and its two-hundred day moving average price is $167.30.

Simon Property Group (NYSE:SPG) last issued its quarterly earnings results on Monday, May 12th. The real estate investment trust reported $2.95 earnings per share for the quarter, beating analysts’ consensus estimates of $2.91 by $0.04. The business had revenue of $1.47 billion during the quarter, compared to analyst estimates of $1.34 billion. Simon Property Group had a net margin of 35.98% and a return on equity of 67.32%. Simon Property Group’s revenue for the quarter was up 2.1% compared to the same quarter last year. During the same quarter last year, the business posted $3.56 earnings per share. On average, equities analysts predict that Simon Property Group, Inc. will post 12.54 earnings per share for the current fiscal year.

Simon Property Group Announces Dividend

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 given a $2.10 dividend. The ex-dividend date is Monday, June 9th. This represents a $8.40 annualized dividend and a dividend yield of 5.28%. Simon Property Group’s dividend payout ratio is currently 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.