First Trust Advisors LP Has $8 Million Holdings in Simon Property Group, Inc. (NYSE:SPG)

First Trust Advisors LP lessened its holdings in shares of Simon Property Group, Inc. (NYSE:SPG – Get Rating) by 2.9% during the third quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 89,152 shares of the real estate investment trust’s stock after selling 2,636 shares during the period. First Trust Advisors LP’s holdings in Simon Property Group were worth $8,001,000 as of its most recent filing with the SEC.

A number of other hedge funds also recently modified their holdings of the business. AMI Investment Management Inc. lifted its holdings in Simon Property Group by 1.2% in the first quarter. AMI Investment Management Inc. now owns 17,576 shares of the real estate investment trust’s stock valued at $2,312,000 after buying an additional 204 shares during the period. Raymond James Trust N.A. boosted its stake in Simon Property Group by 9.8% in the first quarter. Raymond James Trust N.A. now owns 4,138 shares of the real estate investment trust’s stock valued at $544,000 after acquiring an additional 371 shares during the last quarter. Blair William & Co. IL boosted its stake in Simon Property Group by 56.8% in the first quarter. Blair William & Co. IL now owns 55,270 shares of the real estate investment trust’s stock valued at $7,271,000 after acquiring an additional 20,022 shares during the last quarter. Prudential PLC purchased a new position in Simon Property Group in the first quarter valued at about $642,000. Finally, Dakota Wealth Management purchased a new position in Simon Property Group in the first quarter valued at about $390,000. Institutional investors and hedge funds own 83.89% of the company’s stock.

Simon Property Group Price Performance

Shares of NYSE SPG opened at $111.42 on Tuesday. Simon Property Group, Inc. has a 12 month low of $86.02 and a 12 month high of $138.65. The stock has a market capitalization of $36.43 billion, a price-to-earnings ratio of 17.09, a PEG ratio of 2.62 and a beta of 1.52. The company has a debt-to-equity ratio of 6.99, a current ratio of 0.97 and a quick ratio of 0.97. The firm’s 50 day simple moving average is $123.15 and its 200-day simple moving average is $113.18.

Simon Property Group (NYSE:SPG – Get Rating) last announced its quarterly earnings data on Monday, February 6th. The real estate investment trust reported $2.06 earnings per share for the quarter, missing analysts’ consensus estimates of $3.14 by ($1.08). The firm had revenue of $1.40 billion during the quarter, compared to analysts’ expectations of $1.29 billion. Simon Property Group had a net margin of 40.43% and a return on equity of 60.33%. The company’s revenue for the quarter was up 5.6% on a year-over-year basis. During the same quarter in the previous year, the business posted $3.09 EPS. Analysts expect that Simon Property Group, Inc. will post 12.06 EPS for the current year.

Simon Property Group Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, March 31st. Stockholders of record on Friday, March 10th will be paid a $1.80 dividend. This represents a $7.20 annualized dividend and a dividend yield of 6.46%. The ex-dividend date is Thursday, March 9th. Simon Property Group’s payout ratio is presently 110.43%.

Analyst Upgrades and Downgrades

A number of brokerages recently commented on SPG. Deutsche Bank Aktiengesellschaft upped their price target on shares of Simon Property Group from $115.00 to $130.00 in a research note on Tuesday, January 3rd. StockNews.com cut shares of Simon Property Group from a “buy” rating to a “hold” rating in a research report on Thursday, March 2nd. Piper Sandler raised their target price on shares of Simon Property Group from $130.00 to $145.00 in a research report on Tuesday, January 17th. Mizuho decreased their price target on shares of Simon Property Group from $130.00 to $116.00 in a research note on Monday. Finally, Morgan Stanley raised their price objective on shares of Simon Property Group from $131.00 to $132.00 and gave the company an “overweight” rating in a research note on Wednesday, February 22nd. Seven analysts have rated the stock with a hold rating and five have issued a buy rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus price target of $130.58.

Simon Property Group Profile

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Simon Property Group, Inc operates as a self-administered and self-managed real estate investment trust. It owns, develops and manages retail real estate properties which primarily consist of regional malls, premium outlets and mills. Simon Property Group specializes in the ownership, development, management, leasing, acquisition and expansion of income-producing retail real estate assets.