Bard Financial Services Inc. Sells 500 Shares of Simon Property Group, Inc. (NYSE:SPG)

Bard Financial Services Inc. trimmed its holdings in shares of Simon Property Group, Inc. (NYSE:SPG) by 20.3% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,960 shares of the real estate investment trust’s stock after selling 500 shares during the period. Bard Financial Services Inc.’s holdings in Simon Property Group were worth $331,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Clearstead Trust LLC bought a new stake in shares of Simon Property Group in the 1st quarter valued at about $25,000. Opal Wealth Advisors LLC acquired a new stake in Simon Property Group in the 2nd quarter worth approximately $25,000. EntryPoint Capital LLC acquired a new stake in Simon Property Group in the 1st quarter worth approximately $26,000. Wetzel Investment Advisors Inc. acquired a new stake in Simon Property Group in the 2nd quarter worth approximately $27,000. Finally, RFP Financial Group LLC boosted its stake in Simon Property Group by 727.3% in the 2nd quarter. RFP Financial Group LLC now owns 182 shares of the real estate investment trust’s stock worth $28,000 after purchasing an additional 160 shares in the last quarter. 93.01% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of equities analysts have issued reports on SPG shares. StockNews.com raised shares of Simon Property Group from a “hold” rating to a “buy” rating in a research report on Friday, August 16th. Evercore ISI raised shares of Simon Property Group from an “in-line” rating to an “outperform” rating and lifted their target price for the company from $160.00 to $172.00 in a report on Monday, September 16th. Piper Sandler reaffirmed a “neutral” rating and set a $175.00 target price (down from $190.00) on shares of Simon Property Group in a report on Tuesday, September 3rd. Truist Financial lifted their target price on shares of Simon Property Group from $147.00 to $158.00 and gave the company a “hold” rating in a report on Wednesday, August 28th. Finally, Scotiabank lifted their target price on shares of Simon Property Group from $152.00 to $169.00 and gave the company a “sector perform” rating in a report on Monday, August 26th. Six research analysts have rated the stock with a hold rating and four have issued a buy rating to the company. Based on data from MarketBeat, Simon Property Group presently has a consensus rating of “Hold” and an average target price of $162.78.

Insider Buying and Selling

In other news, Director Allan B. Hubbard acquired 370 shares of the firm’s stock in a transaction dated Monday, September 30th. The stock was acquired at an average cost of $167.30 per share, with a total value of $61,901.00. Following the completion of the acquisition, the director now owns 34,301 shares of the company’s stock, valued at $5,738,557.30. The trade was a 0.00 % increase in their ownership of the stock. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders own 8.50% of the company’s stock.

Simon Property Group Price Performance

SPG traded up $1.23 on Friday, hitting $169.58. 1,211,204 shares of the company’s stock were exchanged, compared to its average volume of 1,778,016. Simon Property Group, Inc. has a fifty-two week low of $102.82 and a fifty-two week high of $170.87. The company has a current ratio of 2.04, a quick ratio of 2.04 and a debt-to-equity ratio of 7.53. The firm has a 50-day moving average price of $162.34 and a 200-day moving average price of $153.37. The stock has a market cap of $55.29 billion, a price-to-earnings ratio of 21.60, a P/E/G ratio of 9.23 and a beta of 1.74.

Simon Property Group (NYSE:SPG) last announced its quarterly earnings results on Monday, August 5th. The real estate investment trust reported $1.51 earnings per share for the quarter, missing the consensus estimate of $2.93 by ($1.42). The firm had revenue of $1.32 billion for the quarter, compared to analyst estimates of $1.30 billion. Simon Property Group had a net margin of 45.90% and a return on equity of 78.14%. The company’s revenue was up 4.8% compared to the same quarter last year. During the same period in the previous year, the firm posted $2.88 EPS. As a group, equities analysts anticipate that Simon Property Group, Inc. will post 12.85 earnings per share for the current year.

Simon Property Group Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, September 30th. Shareholders of record on Monday, September 9th were paid a dividend of $2.05 per share. The ex-dividend date was Monday, September 9th. This is a positive change from Simon Property Group’s previous quarterly dividend of $2.00. This represents a $8.20 dividend on an annualized basis and a yield of 4.84%. Simon Property Group’s dividend payout ratio is 104.46%.

Simon Property Group 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.