Simon Property Group, Inc. (NYSE:SPG) Shares Purchased by Exchange Traded Concepts LLC

Exchange Traded Concepts LLC increased its stake in shares of Simon Property Group, Inc. (NYSE:SPG) by 27.1% in the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 69,465 shares of the real estate investment trust’s stock after purchasing an additional 14,829 shares during the period. Exchange Traded Concepts LLC’s holdings in Simon Property Group were worth $11,537,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds have also recently modified their holdings of SPG. Brighton Jones LLC acquired a new position in shares of Simon Property Group during the 4th quarter worth about $295,000. V Square Quantitative Management LLC grew its stake in Simon Property Group by 10.0% during the 4th quarter. V Square Quantitative Management LLC now owns 2,319 shares of the real estate investment trust’s stock valued at $399,000 after acquiring an additional 210 shares in the last quarter. Everhart Financial Group Inc. grew its stake in Simon Property Group by 6.9% during the 4th quarter. Everhart Financial Group Inc. now owns 3,558 shares of the real estate investment trust’s stock valued at $613,000 after acquiring an additional 229 shares in the last quarter. Principal Securities Inc. grew its stake in Simon Property Group by 4.2% during the 4th quarter. Principal Securities Inc. now owns 4,140 shares of the real estate investment trust’s stock valued at $713,000 after acquiring an additional 166 shares in the last quarter. Finally, Allworth Financial LP grew its stake in Simon Property Group by 140.6% during the 4th quarter. Allworth Financial LP now owns 3,152 shares of the real estate investment trust’s stock valued at $545,000 after acquiring an additional 1,842 shares in the last quarter. Institutional investors and hedge funds own 93.01% of the company’s stock.

Simon Property Group Stock Performance

Simon Property Group stock opened at $156.67 on Monday. The firm has a 50 day simple moving average of $157.80 and a 200-day simple moving average of $168.33. Simon Property Group, Inc. has a 1-year low of $136.34 and a 1-year 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. The stock has a market cap of $51.14 billion, a price-to-earnings ratio of 21.58, a price-to-earnings-growth ratio of 10.10 and a beta of 1.47.

Simon Property Group (NYSE:SPG) last posted its quarterly earnings results 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 business had revenue of $1.47 billion during the quarter, compared to analysts’ expectations of $1.34 billion. Simon Property Group had a net margin of 41.49% and a return on equity of 74.02%. The business’s revenue for the quarter was up 2.1% on a year-over-year basis. During the same quarter in the prior year, the company posted $3.56 EPS. On average, analysts expect that Simon Property Group, Inc. will post 12.54 EPS for the current year.

Simon Property Group Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, June 30th. Investors of record on Monday, June 9th will be given a dividend of $2.10 per share. The ex-dividend date of this dividend is Monday, June 9th. This represents a $8.40 dividend on an annualized basis and a dividend yield of 5.36%. Simon Property Group’s payout ratio is currently 133.76%.

Analysts Set New Price Targets

Several analysts recently issued reports on the stock. Scotiabank dropped their price objective on shares of Simon Property Group from $186.00 to $159.00 and set a “sector perform” rating for the company in a research note on Wednesday, April 23rd. Stifel Nicolaus upped their price objective on shares of Simon Property Group from $168.50 to $180.00 and gave the company a “buy” rating in a research note on Tuesday, May 13th. Wall Street Zen cut shares of Simon Property Group from a “buy” rating to a “hold” rating in a research note on Saturday, March 29th. JPMorgan Chase & Co. dropped their price objective on shares of Simon Property Group from $192.00 to $180.00 and set a “neutral” rating for the company in a research note on Thursday, May 22nd. Finally, Piper Sandler dropped their price objective on shares of Simon Property Group from $205.00 to $200.00 and set an “overweight” rating for the company in a research note on Friday, May 23rd. Six analysts have rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. According to data from MarketBeat, the company has an average rating of “Hold” and an average price target of $179.00.

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.