Simon Property Group, Inc. (NYSE:SPG) is New Age Alpha Advisors LLC’s 6th Largest Position

New Age Alpha Advisors LLC reduced its stake in Simon Property Group, Inc. (NYSE:SPG) by 12.9% during the first quarter, Holdings Channel.com reports. The firm owned 123,620 shares of the real estate investment trust’s stock after selling 18,302 shares during the period. Simon Property Group accounts for about 0.9% of New Age Alpha Advisors LLC’s portfolio, making the stock its 6th largest position. New Age Alpha Advisors LLC’s holdings in Simon Property Group were worth $20,531,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently bought and sold shares of SPG. Park Square Financial Group LLC grew its holdings in shares of Simon Property Group by 108.0% in the first quarter. Park Square Financial Group LLC now owns 156 shares of the real estate investment trust’s stock worth $26,000 after purchasing an additional 81 shares during the last quarter. Richardson Financial Services Inc. raised its holdings in Simon Property Group by 185.0% during the 1st quarter. Richardson Financial Services Inc. now owns 171 shares of the real estate investment trust’s stock valued at $28,000 after buying an additional 111 shares during the last quarter. Continuum Advisory LLC boosted its position in Simon Property Group by 421.6% during the 1st quarter. Continuum Advisory LLC now owns 193 shares of the real estate investment trust’s stock valued at $32,000 after buying an additional 156 shares during the period. Colonial Trust Co SC boosted its position in Simon Property Group by 37.5% during the 4th quarter. Colonial Trust Co SC now owns 209 shares of the real estate investment trust’s stock valued at $36,000 after buying an additional 57 shares during the period. Finally, AdvisorNet Financial Inc grew its holdings in Simon Property Group by 77.2% in the 1st quarter. AdvisorNet Financial Inc now owns 218 shares of the real estate investment trust’s stock worth $36,000 after acquiring an additional 95 shares during the last quarter. Institutional investors own 93.01% of the company’s stock.

Simon Property Group Price Performance

Shares of SPG stock opened at $163.72 on Tuesday. The company has a quick ratio of 1.45, a current ratio of 1.45 and a debt-to-equity ratio of 8.29. The stock has a market cap of $53.44 billion, a price-to-earnings ratio of 26.07, a PEG ratio of 10.85 and a beta of 1.48. The business’s fifty day moving average is $162.03 and its 200 day moving average is $164.99. Simon Property Group, Inc. has a twelve month low of $136.34 and a twelve month high of $190.13.

Simon Property Group (NYSE:SPG) last released its earnings results on Monday, May 12th. The real estate investment trust reported $2.95 earnings per share for the quarter, topping analysts’ consensus estimates of $2.91 by $0.04. The firm had revenue of $1.47 billion for the quarter, compared to the consensus estimate of $1.34 billion. Simon Property Group had a net margin of 35.98% and a return on equity of 67.32%. The company’s revenue was up 2.1% compared to the same quarter last year. During the same period in the prior year, the firm earned $3.56 EPS. Research analysts expect that Simon Property Group, Inc. will post 12.54 EPS for the current fiscal year.

Simon Property Group Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, September 30th. Shareholders of record on Tuesday, September 9th will be paid a dividend of $2.15 per share. This is an increase from Simon Property Group’s previous quarterly dividend of $2.10. This represents a $8.60 dividend on an annualized basis and a dividend yield of 5.3%. Simon Property Group’s dividend payout ratio (DPR) is currently 133.76%.

Wall Street Analysts Forecast Growth

SPG has been the subject of several recent analyst reports. Scotiabank upped their price objective 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. Mizuho lowered their price target 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. Barclays assumed coverage on Simon Property Group in a research report on Wednesday, July 2nd. They issued an “equal weight” rating and a $170.00 price objective on the stock. JPMorgan Chase & Co. decreased their target price 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. Finally, Piper Sandler cut 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 report on Friday, May 23rd. Seven investment analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. According to data from MarketBeat, Simon Property Group has an average rating of “Hold” and a consensus price target of $182.73.

Insider Buying and Selling at Simon Property Group

In related news, Director Daniel C. Smith acquired 378 shares of the stock in a transaction on Monday, June 30th. The stock was acquired at an average price of $159.29 per share, for a total transaction of $60,211.62. Following the completion of the purchase, the director owned 31,998 shares of the company’s stock, valued at $5,096,961.42. This represents a 1.20% increase in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Reuben S. Leibowitz bought 522 shares of the company’s stock in a transaction on Monday, June 30th. The stock was bought at an average cost of $159.29 per share, for a total transaction of $83,149.38. Following the completion of the acquisition, the director directly owned 58,195 shares of the company’s stock, valued at approximately $9,269,881.55. This represents a 0.91% increase in their position. The disclosure for this purchase can be found here. In the last ninety days, insiders have purchased 2,386 shares of company stock valued at $380,066. 8.60% of the stock is currently owned by company insiders.

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.