Global Assets Advisory LLC Makes New $4.11 Million Investment in Simon Property Group, Inc. (NYSE:SPG)

Global Assets Advisory LLC purchased a new stake in Simon Property Group, Inc. (NYSE:SPG) during the first quarter, according to its most recent filing with the SEC. The firm purchased 26,245 shares of the real estate investment trust’s stock, valued at approximately $4,107,000.

Other large investors have also added to or reduced their stakes in the company. Westend Capital Management LLC purchased a new stake in shares of Simon Property Group in the 1st quarter valued at $85,000. Ballentine Partners LLC increased its stake in Simon Property Group by 8.1% during the 1st quarter. Ballentine Partners LLC now owns 4,238 shares of the real estate investment trust’s stock worth $663,000 after buying an additional 316 shares in the last quarter. Radnor Capital Management LLC purchased a new stake in shares of Simon Property Group during the first quarter worth approximately $1,253,000. Roble Belko & Company Inc purchased a new position in shares of Simon Property Group in the first quarter worth about $469,000. Finally, Gulf International Bank UK Ltd boosted its holdings in shares of Simon Property Group by 0.8% during the 1st quarter. Gulf International Bank UK Ltd now owns 27,026 shares of the real estate investment trust’s stock worth $4,229,000 after purchasing an additional 212 shares during the last quarter. 93.01% of the stock is currently owned by institutional investors.

Simon Property Group Price Performance

Shares of NYSE:SPG opened at $150.45 on Tuesday. The company has a market cap of $49.04 billion, a PE ratio of 19.17, a P/E/G ratio of 8.69 and a beta of 1.71. The firm has a 50-day simple moving average of $146.93 and a 200 day simple moving average of $146.38. Simon Property Group, Inc. has a fifty-two week low of $102.11 and a fifty-two week high of $157.82. The company has a quick ratio of 2.19, a current ratio of 2.19 and a debt-to-equity ratio of 7.20.

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

Simon Property Group Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, June 28th. Investors of record on Friday, June 7th will be paid a $2.00 dividend. The ex-dividend date is Friday, June 7th. This represents a $8.00 dividend on an annualized basis and a yield of 5.32%. This is a boost from Simon Property Group’s previous quarterly dividend of $1.95. Simon Property Group’s dividend payout ratio (DPR) is currently 101.91%.

Analyst Ratings Changes

Several equities research analysts recently weighed in on the stock. StockNews.com raised shares of Simon Property Group from a “hold” rating to a “buy” rating in a research note on Thursday, April 18th. Argus upped their target price on Simon Property Group from $157.00 to $168.00 and gave the company a “buy” rating in a research report on Tuesday, June 11th. Truist Financial lifted their target price on shares of Simon Property Group from $139.00 to $147.00 and gave the company a “hold” rating in a report on Friday, March 22nd. Evercore ISI increased their price objective on Simon Property Group from $142.00 to $150.00 and gave the stock an “in-line” rating in a research report on Wednesday, February 28th. Finally, Morgan Stanley boosted their price target on shares of Simon Property Group from $143.00 to $145.00 and gave the stock an “equal weight” rating in a research note on Monday, February 26th. Five research analysts have rated the stock with a hold rating and six have issued a buy rating to the company. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $147.60.

Simon Property Group 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.