Resurgent Financial Advisors LLC Makes New $409,000 Investment in Simon Property Group, Inc. (NYSE:SPG)

Resurgent Financial Advisors LLC purchased a new stake in Simon Property Group, Inc. (NYSE:SPG) in the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The firm purchased 2,377 shares of the real estate investment trust’s stock, valued at approximately $409,000.

Several other institutional investors have also modified their holdings of the business. Wilmington Savings Fund Society FSB purchased a new position in Simon Property Group in the third quarter valued at $834,000. First Hawaiian Bank raised its position in Simon Property Group by 35.0% in the 4th quarter. First Hawaiian Bank now owns 5,294 shares of the real estate investment trust’s stock valued at $912,000 after purchasing an additional 1,372 shares in the last quarter. Versant Capital Management Inc raised its position in Simon Property Group by 72.8% in the 4th quarter. Versant Capital Management Inc now owns 999 shares of the real estate investment trust’s stock valued at $172,000 after purchasing an additional 421 shares in the last quarter. Asset Management One Co. Ltd. boosted its stake in shares of Simon Property Group by 0.7% in the 4th quarter. Asset Management One Co. Ltd. now owns 587,933 shares of the real estate investment trust’s stock valued at $101,130,000 after buying an additional 3,990 shares during the period. Finally, Merit Financial Group LLC acquired a new position in shares of Simon Property Group during the fourth quarter worth about $416,000. Institutional investors and hedge funds own 93.01% of the company’s stock.

Analyst Upgrades and Downgrades

SPG has been the subject of a number of recent research reports. Deutsche Bank Aktiengesellschaft started coverage on shares of Simon Property Group in a research note on Tuesday, December 17th. They issued a “hold” rating and a $195.00 price target for the company. Stifel Nicolaus raised shares of Simon Property Group from a “hold” rating to a “buy” rating and set a $168.50 price objective for the company in a research report on Wednesday, April 9th. Piper Sandler raised Simon Property Group from a “neutral” rating to an “overweight” rating and increased their target price for the company from $175.00 to $205.00 in a report on Wednesday, February 5th. Jefferies Financial Group raised Simon Property Group from a “hold” rating to a “buy” rating and lifted their price target for the stock from $179.00 to $198.00 in a report on Thursday, January 2nd. Finally, StockNews.com cut Simon Property Group from a “buy” rating to a “hold” rating in a research report on Saturday, March 29th. Five investment analysts have rated the stock with a hold rating and five have given a buy rating to the company. According to data from MarketBeat, Simon Property Group presently has an average rating of “Moderate Buy” and an average target price of $181.39.

Simon Property Group Trading Down 0.3 %

NYSE:SPG opened at $149.35 on Wednesday. The company has a market capitalization of $48.73 billion, a PE ratio of 20.57, a P/E/G ratio of 10.10 and a beta of 1.45. Simon Property Group, Inc. has a 52-week low of $136.34 and a 52-week high of $190.14. The stock’s 50 day moving average price is $168.88 and its 200 day moving average price is $173.01. The company has a quick ratio of 2.00, a current ratio of 1.28 and a debt-to-equity ratio of 7.19.

Simon Property Group (NYSE:SPG) last posted its quarterly earnings data on Tuesday, February 4th. The real estate investment trust reported $3.68 earnings per share for the quarter, beating the consensus estimate of $1.98 by $1.70. Simon Property Group had a return on equity of 74.02% and a net margin of 41.49%. On average, research analysts anticipate that Simon Property Group, Inc. will post 12.54 EPS for the current year.

Simon Property Group Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, March 31st. Stockholders of record on Monday, March 10th were paid a dividend of $2.10 per share. The ex-dividend date was Monday, March 10th. This represents a $8.40 annualized dividend and a dividend yield of 5.62%. Simon Property Group’s dividend payout ratio (DPR) is 115.70%.

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.