Signet Financial Management LLC Grows Stock Holdings in Simon Property Group, Inc. (NYSE:SPG)

Signet Financial Management LLC grew its holdings in shares of Simon Property Group, Inc. (NYSE:SPG) by 6.8% in the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 11,733 shares of the real estate investment trust’s stock after buying an additional 749 shares during the quarter. Signet Financial Management LLC’s holdings in Simon Property Group were worth $1,836,000 at the end of the most recent quarter.

Several other institutional investors also recently bought and sold shares of the business. Norges Bank acquired a new position in shares of Simon Property Group during the fourth quarter worth $2,561,181,000. International Assets Investment Management LLC lifted its position in shares of Simon Property Group by 13,226.4% during the fourth quarter. International Assets Investment Management LLC now owns 920,586 shares of the real estate investment trust’s stock worth $131,312,000 after purchasing an additional 913,678 shares in the last quarter. Panagora Asset Management Inc. raised its holdings in Simon Property Group by 11,722.9% in the fourth quarter. Panagora Asset Management Inc. now owns 672,724 shares of the real estate investment trust’s stock valued at $95,957,000 after acquiring an additional 667,034 shares in the last quarter. Duff & Phelps Investment Management Co. raised its holdings in Simon Property Group by 160.1% in the fourth quarter. Duff & Phelps Investment Management Co. now owns 763,371 shares of the real estate investment trust’s stock valued at $108,887,000 after acquiring an additional 469,855 shares in the last quarter. Finally, American Century Companies Inc. raised its holdings in Simon Property Group by 65.3% in the third quarter. American Century Companies Inc. now owns 854,191 shares of the real estate investment trust’s stock valued at $92,278,000 after acquiring an additional 337,430 shares in the last quarter. 93.01% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several analysts recently issued reports on the stock. Truist Financial upped their price target 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. Argus upped their price target on shares of Simon Property Group from $157.00 to $168.00 and gave the company a “buy” rating in a report on Tuesday, June 11th. Scotiabank upped their price target on shares of Simon Property Group from $142.00 to $152.00 and gave the company a “sector perform” rating in a report on Thursday, May 16th. Finally, StockNews.com raised shares of Simon Property Group from a “hold” rating to a “buy” rating in a report on Thursday, April 18th. Five equities research analysts have rated the stock with a hold rating and six have given a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $147.60.

Simon Property Group Stock Up 1.5 %

Simon Property Group stock opened at $149.81 on Friday. The company has a 50-day simple moving average of $147.21 and a 200-day simple moving average of $146.49. The firm has a market capitalization of $48.83 billion, a P/E ratio of 19.08, a P/E/G ratio of 8.77 and a beta of 1.71. The company has a debt-to-equity ratio of 7.20, a quick ratio of 2.19 and a current ratio of 2.19. Simon Property Group, Inc. has a one year low of $102.11 and a one year high of $157.82.

Simon Property Group (NYSE:SPG) last released its quarterly 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 firm had revenue of $1.44 billion for the quarter, compared to the consensus estimate of $1.31 billion. Simon Property Group had a return on equity of 78.50% and a net margin of 46.49%. The firm’s revenue was up 6.8% on a year-over-year basis. During the same quarter in the prior year, the company posted $2.74 EPS. As a group, equities analysts expect that Simon Property Group, Inc. will post 12.84 earnings per share for the current 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 given a $2.00 dividend. This represents a $8.00 dividend on an annualized basis and a yield of 5.34%. The ex-dividend date is Friday, June 7th. This is a positive change from Simon Property Group’s previous quarterly dividend of $1.95. Simon Property Group’s dividend payout ratio is currently 101.91%.

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.