Register Financial Advisors LLC Makes New $130,000 Investment in Simon Property Group, Inc. (NYSE:SPG)

Register Financial Advisors LLC acquired a new position in Simon Property Group, Inc. (NYSE:SPG) during the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor acquired 829 shares of the real estate investment trust’s stock, valued at approximately $130,000.

Several other hedge funds have also bought and sold shares of SPG. Norges Bank purchased a new stake in Simon Property Group in the 4th quarter worth approximately $2,561,181,000. International Assets Investment Management LLC raised its stake in shares of Simon Property Group by 13,226.4% during the 4th quarter. International Assets Investment Management LLC now owns 920,586 shares of the real estate investment trust’s stock worth $131,312,000 after buying an additional 913,678 shares during the period. Panagora Asset Management Inc. raised its stake in shares of Simon Property Group by 11,722.9% during the 4th quarter. Panagora Asset Management Inc. now owns 672,724 shares of the real estate investment trust’s stock worth $95,957,000 after buying an additional 667,034 shares during the period. Duff & Phelps Investment Management Co. raised its stake in shares of Simon Property Group by 160.1% during the 4th quarter. Duff & Phelps Investment Management Co. now owns 763,371 shares of the real estate investment trust’s stock worth $108,887,000 after buying an additional 469,855 shares during the period. Finally, American Century Companies Inc. raised its stake in shares of Simon Property Group by 65.3% during the 3rd quarter. American Century Companies Inc. now owns 854,191 shares of the real estate investment trust’s stock worth $92,278,000 after buying an additional 337,430 shares during the period. Hedge funds and other institutional investors own 93.01% of the company’s stock.

Wall Street Analyst Weigh In

SPG has been the subject of several research analyst reports. Scotiabank upped their target price on Simon Property Group from $142.00 to $152.00 and gave the stock a “sector perform” rating in a research note on Thursday, May 16th. StockNews.com raised 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 stock a “buy” rating in a research note on Tuesday, June 11th. Finally, Truist Financial upped their target price 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. Five analysts have rated the stock with a hold rating and six have issued a buy rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $147.60.

Simon Property Group Stock Up 1.3 %

NYSE SPG opened at $151.80 on Friday. The business has a fifty day moving average price of $147.63 and a 200 day moving average price of $146.63. Simon Property Group, Inc. has a one year low of $102.11 and a one year high of $157.82. The company has a debt-to-equity ratio of 7.20, a quick ratio of 2.19 and a current ratio of 2.19. The company has a market cap of $49.48 billion, a P/E ratio of 19.34, a P/E/G ratio of 8.91 and a beta of 1.71.

Simon Property Group (NYSE:SPG) last posted its quarterly earnings data 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). Simon Property Group had a net margin of 46.49% and a return on equity of 78.50%. The firm had revenue of $1.44 billion during the quarter, compared to analyst estimates of $1.31 billion. During the same period in the prior year, the company posted $2.74 earnings per share. The firm’s revenue for the quarter was up 6.8% compared to the same quarter last year. Research analysts anticipate that Simon Property Group, Inc. will post 12.84 EPS for the current fiscal year.

Simon Property Group Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, June 28th. Shareholders of record on Friday, June 7th were paid a $2.00 dividend. The ex-dividend date of this dividend was Friday, June 7th. This is an increase from Simon Property Group’s previous quarterly dividend of $1.95. This represents a $8.00 dividend on an annualized basis and a dividend yield of 5.27%. Simon Property Group’s dividend payout ratio (DPR) is 101.91%.

About Simon Property Group

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.