Simon Property Group, Inc. (NYSE:SPG) Shares Sold by Dorsey Wright & Associates

Dorsey Wright & Associates lessened its holdings in shares of Simon Property Group, Inc. (NYSE:SPG) by 19.5% in the second quarter, Holdings Channel.com reports. The firm owned 1,546 shares of the real estate investment trust’s stock after selling 375 shares during the period. Dorsey Wright & Associates’ holdings in Simon Property Group were worth $235,000 as of its most recent SEC filing.

A number of other hedge funds have also recently bought and sold shares of SPG. Orion Portfolio Solutions LLC grew its stake in Simon Property Group by 12.1% during the 4th quarter. Orion Portfolio Solutions LLC now owns 9,217 shares of the real estate investment trust’s stock valued at $1,311,000 after purchasing an additional 997 shares in the last quarter. TD Asset Management Inc grew its position in shares of Simon Property Group by 9.1% in the 4th quarter. TD Asset Management Inc now owns 118,933 shares of the real estate investment trust’s stock worth $16,965,000 after acquiring an additional 9,887 shares in the last quarter. Fiduciary Trust Co acquired a new position in shares of Simon Property Group in the 4th quarter worth approximately $218,000. Catalytic Wealth RIA LLC acquired a new position in shares of Simon Property Group in the 4th quarter worth approximately $253,000. Finally, Avestar Capital LLC acquired a new position in shares of Simon Property Group in the 4th quarter worth approximately $248,000. Institutional investors and hedge funds own 93.01% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research analysts have recently commented on the company. StockNews.com upgraded Simon Property Group from a “hold” rating to a “buy” rating in a research report on Friday, August 16th. Evercore ISI upgraded Simon Property Group from an “in-line” rating to an “outperform” rating and lifted their target price for the stock from $160.00 to $172.00 in a research report on Monday, September 16th. Stifel Nicolaus reiterated a “hold” rating and issued a $159.00 target price (up previously from $157.50) on shares of Simon Property Group in a research report on Thursday, September 12th. Argus lifted their target price on Simon Property Group from $157.00 to $168.00 and gave the stock a “buy” rating in a research report on Tuesday, June 11th. Finally, Piper Sandler reissued a “neutral” rating and issued a $175.00 price target (down previously from $190.00) on shares of Simon Property Group in a report on Tuesday, September 3rd. Six research analysts have rated the stock with a hold rating and four have given a buy rating to the company’s stock. According to data from MarketBeat.com, Simon Property Group has a consensus rating of “Hold” and an average target price of $162.78.

Simon Property Group Stock Up 0.8 %

Shares of Simon Property Group stock opened at $167.71 on Friday. The business’s fifty day moving average price is $160.77 and its two-hundred day moving average price is $152.74. The company has a debt-to-equity ratio of 7.53, a current ratio of 2.04 and a quick ratio of 2.04. The company has a market capitalization of $54.68 billion, a P/E ratio of 21.36, a PEG ratio of 9.32 and a beta of 1.74. Simon Property Group, Inc. has a 1-year low of $102.11 and a 1-year high of $170.87.

Simon Property Group (NYSE:SPG) last announced its 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 business had revenue of $1.32 billion for the quarter, compared to the consensus estimate of $1.30 billion. Simon Property Group had a net margin of 45.90% and a return on equity of 78.14%. The firm’s revenue was up 4.8% on a year-over-year basis. During the same period in the previous year, the firm earned $2.88 EPS. As a group, research analysts forecast that Simon Property Group, Inc. will post 12.85 EPS for the current year.

Simon Property Group Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, September 30th. Shareholders of record on Monday, September 9th will be paid a dividend of $2.05 per share. The ex-dividend date is Monday, September 9th. This represents a $8.20 annualized dividend and a yield of 4.89%. This is an increase from Simon Property Group’s previous quarterly dividend of $2.00. Simon Property Group’s payout ratio is presently 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.