KMG Fiduciary Partners LLC Trims Stock Position in Simon Property Group, Inc. (NYSE:SPG)

KMG Fiduciary Partners LLC cut its holdings in shares of Simon Property Group, Inc. (NYSE:SPG) by 37.2% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 1,394 shares of the real estate investment trust’s stock after selling 824 shares during the quarter. KMG Fiduciary Partners LLC’s holdings in Simon Property Group were worth $218,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors also recently modified their holdings of SPG. Coldstream Capital Management Inc. lifted its holdings in shares of Simon Property Group by 1.5% in the 4th quarter. Coldstream Capital Management Inc. now owns 5,192 shares of the real estate investment trust’s stock worth $741,000 after purchasing an additional 77 shares during the last quarter. Salem Investment Counselors Inc. lifted its holdings in shares of Simon Property Group by 16.6% in the 4th quarter. Salem Investment Counselors Inc. now owns 563 shares of the real estate investment trust’s stock worth $80,000 after purchasing an additional 80 shares during the last quarter. Cascade Investment Group Inc. lifted its holdings in shares of Simon Property Group by 0.5% in the 4th quarter. Cascade Investment Group Inc. now owns 14,701 shares of the real estate investment trust’s stock worth $2,097,000 after purchasing an additional 80 shares during the last quarter. Schechter Investment Advisors LLC lifted its holdings in shares of Simon Property Group by 2.4% in the 4th quarter. Schechter Investment Advisors LLC now owns 3,403 shares of the real estate investment trust’s stock worth $485,000 after purchasing an additional 81 shares during the last quarter. Finally, Sound View Wealth Advisors Group LLC lifted its holdings in shares of Simon Property Group by 1.5% in the 4th quarter. Sound View Wealth Advisors Group LLC now owns 5,563 shares of the real estate investment trust’s stock worth $794,000 after purchasing an additional 83 shares during the last quarter. 93.01% of the stock is currently owned by hedge funds and other institutional investors.

Simon Property Group Stock Down 0.1 %

SPG opened at $146.16 on Friday. 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 stock’s fifty day moving average is $146.77 and its 200-day moving average is $146.03. The company has a market capitalization of $47.64 billion, a PE ratio of 18.62, a P/E/G ratio of 8.70 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 analysts’ consensus estimates of $2.80 by ($0.55). Simon Property Group had a return on equity of 78.50% and a net margin of 46.49%. The firm had revenue of $1.44 billion during the quarter, compared to the consensus estimate of $1.31 billion. During the same period in the prior year, the firm posted $2.74 EPS. The firm’s quarterly revenue was up 6.8% on a year-over-year basis. On average, equities analysts predict 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 will be paid on Friday, June 28th. Investors of record on Friday, June 7th will be issued a $2.00 dividend. This represents a $8.00 dividend on an annualized basis and a dividend yield of 5.47%. This is a boost 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%.

Analyst Upgrades and Downgrades

SPG has been the topic of several recent research reports. Scotiabank raised their price target on Simon Property Group from $142.00 to $152.00 and gave the stock a “sector perform” rating in a report 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. Morgan Stanley lifted their target price on 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. Truist Financial lifted their target price on Simon Property Group from $139.00 to $147.00 and gave the company a “hold” rating in a research note on Friday, March 22nd. Finally, Argus lifted their target price on Simon Property Group from $157.00 to $168.00 and gave the company a “buy” rating in a research note on Tuesday, June 11th. Five research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. According to data from MarketBeat, Simon Property Group currently has an average rating of “Moderate Buy” and a consensus target price 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.