1,450 Shares in Simon Property Group, Inc. (NYSE:SPG) Purchased by Virtus Investment Advisers Inc.

Virtus Investment Advisers Inc. acquired a new position in shares of Simon Property Group, Inc. (NYSE:SPG) during the 4th quarter, HoldingsChannel reports. The institutional investor acquired 1,450 shares of the real estate investment trust’s stock, valued at approximately $250,000.

A number of other hedge funds also recently bought and sold shares of SPG. Pitcairn Co. raised its holdings in shares of Simon Property Group by 0.6% during the fourth quarter. Pitcairn Co. now owns 9,895 shares of the real estate investment trust’s stock valued at $1,704,000 after acquiring an additional 55 shares during the period. Colonial Trust Co SC grew 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 worth $36,000 after purchasing an additional 57 shares in the last quarter. Childress Capital Advisors LLC raised its stake in Simon Property Group by 3.6% during the 4th quarter. Childress Capital Advisors LLC now owns 1,689 shares of the real estate investment trust’s stock valued at $291,000 after purchasing an additional 58 shares during the period. Global X Japan Co. Ltd. raised its stake in Simon Property Group by 9.9% during the 4th quarter. Global X Japan Co. Ltd. now owns 655 shares of the real estate investment trust’s stock valued at $113,000 after purchasing an additional 59 shares during the period. Finally, HighPoint Advisor Group LLC lifted its holdings in shares of Simon Property Group by 1.8% in the fourth quarter. HighPoint Advisor Group LLC now owns 3,396 shares of the real estate investment trust’s stock valued at $626,000 after purchasing an additional 60 shares in the last quarter. 93.01% of the stock is owned by hedge funds and other institutional investors.

Simon Property Group Stock Up 1.3%

Shares of Simon Property Group stock opened at $165.15 on Monday. The firm has a market cap of $53.91 billion, a price-to-earnings ratio of 22.75, a P/E/G ratio of 10.10 and a beta of 1.43. The stock has a 50-day simple moving average of $158.09 and a 200-day simple moving average of $170.89. Simon Property Group, Inc. has a 52-week low of $136.34 and a 52-week high of $190.14. The company has a debt-to-equity ratio of 7.19, a current ratio of 1.28 and a quick ratio of 2.00.

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 for the quarter, beating the consensus estimate of $2.91 by $0.04. The firm had revenue of $1.47 billion for 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 company’s revenue for the quarter was up 2.1% on a year-over-year basis. During the same quarter last year, the firm earned $3.56 earnings per share. On average, equities research analysts expect 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 paid a $2.10 dividend. This represents a $8.40 annualized dividend and a dividend yield of 5.09%. The ex-dividend date is Monday, June 9th. Simon Property Group’s payout ratio is presently 133.76%.

Wall Street Analysts Forecast Growth

A number of research analysts have recently weighed in on the company. Scotiabank lowered their price target on Simon Property Group from $186.00 to $159.00 and set a “sector perform” rating on the stock in a report on Wednesday, April 23rd. StockNews.com lowered Simon Property Group from a “buy” rating to a “hold” rating in a research report on Saturday, March 29th. Stifel Nicolaus upped their target price on Simon Property Group from $168.50 to $180.00 and gave the company a “buy” rating in a report on Tuesday, May 13th. Finally, Piper Sandler upgraded shares of Simon Property Group from a “neutral” rating to an “overweight” rating and raised their price target for the stock from $175.00 to $205.00 in a report on Wednesday, February 5th. Five analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. According to MarketBeat.com, Simon Property Group presently has an average rating of “Moderate Buy” and a consensus target price of $179.67.

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.