Rise Advisors LLC Buys 162 Shares of Simon Property Group, Inc. (NYSE:SPG)

Rise Advisors LLC increased its position in Simon Property Group, Inc. (NYSE:SPG) by 145.9% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 273 shares of the real estate investment trust’s stock after acquiring an additional 162 shares during the quarter. Rise Advisors LLC’s holdings in Simon Property Group were worth $43,000 at the end of the most recent quarter.

Several other large investors have also added to or reduced their stakes in the company. Cape Investment Advisory Inc. lifted its stake in shares of Simon Property Group by 3,200.0% during the 4th quarter. Cape Investment Advisory Inc. now owns 198 shares of the real estate investment trust’s stock valued at $28,000 after buying an additional 192 shares in the last quarter. BOK Financial Private Wealth Inc. purchased a new position in shares of Simon Property Group in the fourth quarter valued at about $34,000. Bruce G. Allen Investments LLC bought a new position in shares of Simon Property Group in the fourth quarter worth about $41,000. Highlander Capital Management LLC grew its position in shares of Simon Property Group by 183.5% during the fourth quarter. Highlander Capital Management LLC now owns 309 shares of the real estate investment trust’s stock worth $44,000 after purchasing an additional 200 shares in the last quarter. Finally, Anchor Investment Management LLC bought a new stake in Simon Property Group during the 4th quarter valued at approximately $46,000. Hedge funds and other institutional investors own 93.01% of the company’s stock.

Simon Property Group Stock Down 0.5 %

Shares of NYSE SPG opened at $146.17 on Friday. The company has a current ratio of 2.19, a quick ratio of 2.19 and a debt-to-equity ratio of 7.20. Simon Property Group, Inc. has a 12-month low of $102.11 and a 12-month high of $157.82. The firm’s 50-day moving average price is $146.74 and its 200-day moving average price is $145.93. The stock has a market capitalization of $47.64 billion, a price-to-earnings ratio of 18.62, a P/E/G ratio of 8.74 and a beta of 1.71.

Simon Property Group (NYSE:SPG) last issued its quarterly earnings data on Monday, May 6th. The real estate investment trust reported $2.25 earnings per share for the quarter, missing the consensus estimate of $2.80 by ($0.55). The company had revenue of $1.44 billion for the quarter, compared to the consensus estimate of $1.31 billion. Simon Property Group had a return on equity of 78.50% and a net margin of 46.49%. The company’s revenue was up 6.8% compared to the same quarter last year. During the same period in the previous year, the firm earned $2.74 earnings per share. On average, equities research analysts anticipate that Simon Property Group, Inc. will post 12.84 EPS for the current fiscal year.

Simon Property Group Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, June 28th. Shareholders of record on Friday, June 7th will be paid a dividend of $2.00 per share. This represents a $8.00 annualized dividend and a yield of 5.47%. This is a positive change from Simon Property Group’s previous quarterly dividend of $1.95. The ex-dividend date is Friday, June 7th. Simon Property Group’s payout ratio is presently 101.91%.

Analysts Set New Price Targets

Several research analysts have weighed in on the company. Truist Financial upped their price target on Simon Property Group from $139.00 to $147.00 and gave the stock a “hold” rating in a research note on Friday, March 22nd. Scotiabank upped their target price on shares of Simon Property Group from $142.00 to $152.00 and gave the stock a “sector perform” rating in a research report on Thursday, May 16th. Morgan Stanley raised their target price on shares of Simon Property Group from $143.00 to $145.00 and gave the company an “equal weight” rating in a research note on Monday, February 26th. StockNews.com upgraded shares of Simon Property Group from a “hold” rating to a “buy” rating in a research note on Thursday, April 18th. Finally, Evercore ISI raised their price objective on Simon Property Group from $142.00 to $150.00 and gave the company an “in-line” rating in a research report on Wednesday, February 28th. Five analysts have rated the stock with a hold rating and six have given a buy rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $147.60.

Simon Property Group Company Profile

Simon is a real estate investment trust engaged in the ownership of premier shopping, dining, entertainment and mixed-use destinations and an S&P 100 company (Simon Property Group, NYSE: SPG). Our properties across North America, Europe and Asia provide community gathering places for millions of people every day and generate billions in annual sales.