Pathstone Holdings LLC Buys 962 Shares of Simon Property Group, Inc. (NYSE:SPG)

Pathstone Holdings LLC grew its stake in Simon Property Group, Inc. (NYSE:SPG) by 2.2% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 44,668 shares of the real estate investment trust’s stock after purchasing an additional 962 shares during the quarter. Pathstone Holdings LLC’s holdings in Simon Property Group were worth $7,692,000 as of its most recent SEC filing.

Several other large investors also recently modified their holdings of SPG. Hopwood Financial Services Inc. acquired a new position in shares of Simon Property Group in the fourth quarter valued at about $28,000. WR Wealth Planners LLC grew its stake in shares of Simon Property Group by 328.2% in the fourth quarter. WR Wealth Planners LLC now owns 167 shares of the real estate investment trust’s stock valued at $29,000 after acquiring an additional 128 shares in the last quarter. New England Capital Financial Advisors LLC acquired a new position in shares of Simon Property Group in the fourth quarter valued at about $30,000. Caisse Des Depots ET Consignations acquired a new position in shares of Simon Property Group in the fourth quarter valued at about $31,000. Finally, TCTC Holdings LLC acquired a new position in shares of Simon Property Group in the fourth quarter valued at about $34,000. 93.01% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

A number of brokerages have issued reports on SPG. StockNews.com downgraded shares of Simon Property Group from a “buy” rating to a “hold” rating in a research note on Saturday, March 29th. Scotiabank reduced their price objective on shares of Simon Property Group from $186.00 to $159.00 and set a “sector perform” rating on the stock in a research note on Wednesday, April 23rd. Stifel Nicolaus increased their price objective on shares of Simon Property Group from $168.50 to $180.00 and gave the stock a “buy” rating in a research note on Tuesday. Finally, Piper Sandler upgraded shares of Simon Property Group from a “neutral” rating to an “overweight” rating and increased their price objective for the stock from $175.00 to $205.00 in a research note on Wednesday, February 5th. Five analysts have rated the stock with a hold rating and five have issued a buy rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $179.67.

Simon Property Group Trading Up 1.3%

SPG opened at $165.15 on Friday. The company’s 50 day moving average is $158.09 and its 200-day moving average is $170.89. Simon Property Group, Inc. has a 1-year low of $136.34 and a 1-year high of $190.14. The company has a current ratio of 1.28, a quick ratio of 2.00 and a debt-to-equity ratio of 7.19. The company has a market cap of $53.89 billion, a P/E ratio of 22.75, a PEG ratio of 10.10 and a beta of 1.43.

Simon Property Group (NYSE:SPG) last issued its quarterly earnings data on Monday, May 12th. The real estate investment trust reported $2.95 earnings per share (EPS) 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 41.49% and a return on equity of 74.02%. The firm’s quarterly revenue was up 2.1% on a year-over-year basis. During the same quarter last year, the business earned $3.56 EPS. Equities research 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 firm also recently disclosed a quarterly dividend, which will be paid on Monday, June 30th. Investors of record on Monday, June 9th will be issued a $2.10 dividend. The ex-dividend date of this dividend is Monday, June 9th. This represents a $8.40 dividend on an annualized basis and a yield of 5.09%. Simon Property Group’s dividend payout ratio (DPR) is presently 115.70%.

About Simon Property Group

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.