Register Financial Advisors LLC Buys Shares of 829 Simon Property Group, Inc. (NYSE:SPG)

Register Financial Advisors LLC bought a new stake in Simon Property Group, Inc. (NYSE:SPG) during the 1st quarter, Holdings Channel reports. The firm bought 829 shares of the real estate investment trust’s stock, valued at approximately $130,000.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Cape Investment Advisory Inc. grew its stake in shares of Simon Property Group by 3,200.0% in the 4th quarter. Cape Investment Advisory Inc. now owns 198 shares of the real estate investment trust’s stock valued at $28,000 after purchasing an additional 192 shares during the last quarter. BOK Financial Private Wealth Inc. purchased a new position in shares of Simon Property Group in the 4th quarter valued at approximately $34,000. Bruce G. Allen Investments LLC purchased a new stake in shares of Simon Property Group in the fourth quarter valued at approximately $41,000. Indiana Trust & Investment Management CO purchased a new stake in shares of Simon Property Group in the first quarter valued at approximately $41,000. Finally, Rise Advisors LLC boosted its stake in shares of Simon Property Group by 145.9% in the first quarter. Rise Advisors LLC now owns 273 shares of the real estate investment trust’s stock valued at $43,000 after buying an additional 162 shares in the last quarter. 93.01% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of analysts recently weighed in on SPG shares. StockNews.com upgraded Simon Property Group from a “hold” rating to a “buy” rating in a research note on Thursday, April 18th. Scotiabank lifted their price target on Simon Property Group from $142.00 to $152.00 and gave the company a “sector perform” rating in a research note on Thursday, May 16th. Truist Financial lifted their price target 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 price target 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 analysts have rated the stock with a hold rating and six have issued a buy rating to the company. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $147.60.

Simon Property Group Stock Up 1.3 %

SPG opened at $151.80 on Friday. The business’s fifty day moving average is $147.63 and its two-hundred day moving average is $146.63. 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 price-to-earnings ratio of 19.34, a PEG ratio of 8.91 and a beta of 1.71. 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 posted its earnings results 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). The firm had revenue of $1.44 billion for the quarter, compared to analysts’ expectations 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 for the quarter was up 6.8% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $2.74 earnings per share. 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 declared a quarterly dividend, which was paid on Friday, June 28th. Stockholders of record on Friday, June 7th were issued a $2.00 dividend. This represents a $8.00 dividend on an annualized basis and a dividend yield of 5.27%. This is a boost from Simon Property Group’s previous quarterly dividend of $1.95. The ex-dividend date of this dividend was Friday, June 7th. Simon Property Group’s payout ratio 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.