Advisory Services Network LLC Buys 606 Shares of Simon Property Group, Inc. (NYSE:SPG)

Advisory Services Network LLC lifted its holdings in Simon Property Group, Inc. (NYSE:SPG) by 2.5% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 25,282 shares of the real estate investment trust’s stock after acquiring an additional 606 shares during the period. Advisory Services Network LLC’s holdings in Simon Property Group were worth $4,354,000 at the end of the most recent quarter.

A number of other institutional investors have also recently made changes to their positions in SPG. Morse Asset Management Inc purchased a new position in shares of Simon Property Group during the third quarter worth approximately $155,000. EP Wealth Advisors LLC boosted its stake in Simon Property Group by 28.7% in the third quarter. EP Wealth Advisors LLC now owns 1,851 shares of the real estate investment trust’s stock valued at $313,000 after acquiring an additional 413 shares in the last quarter. Orion Portfolio Solutions LLC boosted its stake in Simon Property Group by 13.3% in the third quarter. Orion Portfolio Solutions LLC now owns 10,139 shares of the real estate investment trust’s stock valued at $1,714,000 after acquiring an additional 1,192 shares in the last quarter. MML Investors Services LLC boosted its stake in Simon Property Group by 7.1% in the third quarter. MML Investors Services LLC now owns 62,739 shares of the real estate investment trust’s stock valued at $10,604,000 after acquiring an additional 4,144 shares in the last quarter. Finally, MidWestOne Financial Group Inc. lifted its stake in shares of Simon Property Group by 5.8% during the third quarter. MidWestOne Financial Group Inc. now owns 5,866 shares of the real estate investment trust’s stock worth $991,000 after buying an additional 322 shares during the period. Institutional investors own 93.01% of the company’s stock.

Wall Street Analyst Weigh In

Several research analysts recently issued reports on SPG shares. Piper Sandler raised shares of Simon Property Group from a “neutral” rating to an “overweight” rating and raised their target price for the stock from $175.00 to $205.00 in a report on Wednesday, February 5th. StockNews.com cut shares of Simon Property Group from a “buy” rating to a “hold” rating in a report on Saturday, March 29th. Deutsche Bank Aktiengesellschaft assumed coverage on shares of Simon Property Group in a research note on Tuesday, December 17th. They set a “hold” rating and a $195.00 target price for the company. Stifel Nicolaus upgraded shares of Simon Property Group from a “hold” rating to a “buy” rating and set a $168.50 price target on the stock in a research report on Wednesday. Finally, Jefferies Financial Group upgraded shares of Simon Property Group from a “hold” rating to a “buy” rating and boosted their price target for the stock from $179.00 to $198.00 in a research report on Thursday, January 2nd. Five investment analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $181.39.

Simon Property Group Price Performance

Simon Property Group stock opened at $153.36 on Thursday. Simon Property Group, Inc. has a 1 year low of $136.34 and a 1 year high of $190.14. The firm has a 50 day moving average price of $171.10 and a 200 day moving average price of $173.55. The company has a market cap of $50.04 billion, a price-to-earnings ratio of 21.12, a PEG ratio of 10.10 and a beta of 1.45. The company has a debt-to-equity ratio of 7.19, a quick ratio of 2.00 and a current ratio of 1.28.

Simon Property Group (NYSE:SPG) last released its quarterly earnings data on Tuesday, February 4th. The real estate investment trust reported $3.68 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.98 by $1.70. Simon Property Group had a net margin of 41.49% and a return on equity of 74.02%. Sell-side analysts predict that Simon Property Group, Inc. will post 12.54 earnings per share for the current year.

Simon Property Group Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Monday, March 31st. Shareholders of record on Monday, March 10th were issued a dividend of $2.10 per share. The ex-dividend date was Monday, March 10th. This represents a $8.40 dividend on an annualized basis and a dividend yield of 5.48%. Simon Property Group’s dividend payout ratio (DPR) is 115.70%.

About Simon Property Group

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.