Foundry Partners LLC Boosts Stock Position in Simon Property Group, Inc. (NYSE:SPG)

Foundry Partners LLC increased its position in Simon Property Group, Inc. (NYSE:SPG) by 4.8% in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 189,083 shares of the real estate investment trust’s stock after acquiring an additional 8,636 shares during the quarter. Simon Property Group comprises approximately 1.3% of Foundry Partners LLC’s holdings, making the stock its 11th biggest position. Foundry Partners LLC owned about 0.06% of Simon Property Group worth $21,835,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Mitchell Capital Management Co. boosted its stake in shares of Simon Property Group by 0.4% in the fourth quarter. Mitchell Capital Management Co. now owns 24,412 shares of the real estate investment trust’s stock worth $2,868,000 after acquiring an additional 91 shares during the period. My Legacy Advisors LLC grew its holdings in Simon Property Group by 5.2% during the 1st quarter. My Legacy Advisors LLC now owns 1,830 shares of the real estate investment trust’s stock valued at $201,000 after buying an additional 91 shares in the last quarter. Sequoia Financial Advisors LLC raised its position in shares of Simon Property Group by 3.6% during the first quarter. Sequoia Financial Advisors LLC now owns 2,611 shares of the real estate investment trust’s stock valued at $292,000 after buying an additional 91 shares during the last quarter. Parkside Financial Bank & Trust lifted its holdings in shares of Simon Property Group by 17.1% in the first quarter. Parkside Financial Bank & Trust now owns 638 shares of the real estate investment trust’s stock worth $84,000 after buying an additional 93 shares in the last quarter. Finally, Tiedemann Advisors LLC grew its stake in Simon Property Group by 1.7% during the first quarter. Tiedemann Advisors LLC now owns 5,681 shares of the real estate investment trust’s stock valued at $636,000 after acquiring an additional 94 shares in the last quarter. Institutional investors own 84.73% of the company’s stock.

Wall Street Analysts Forecast Growth

SPG has been the topic of several research analyst reports. JPMorgan Chase & Co. decreased their price target on shares of Simon Property Group from $125.00 to $124.00 and set a “neutral” rating on the stock in a research note on Tuesday, August 29th. Wolfe Research upgraded Simon Property Group from a “peer perform” rating to an “outperform” rating and set a $127.00 price target for the company in a report on Wednesday, July 5th. Truist Financial decreased their price objective on Simon Property Group from $130.00 to $125.00 and set a “hold” rating on the stock in a report on Tuesday, August 29th. Mizuho cut their target price on shares of Simon Property Group from $116.00 to $106.00 in a report on Friday, May 26th. Finally, StockNews.com began coverage on shares of Simon Property Group in a research note on Thursday, August 17th. They set a “hold” rating on the stock. Four analysts have rated the stock with a hold rating and six have issued a buy rating to the company’s stock. Based on data from MarketBeat, Simon Property Group presently has an average rating of “Moderate Buy” and an average target price of $128.36.

Simon Property Group Stock Performance

Simon Property Group stock opened at $114.26 on Tuesday. The company has a debt-to-equity ratio of 7.67, a quick ratio of 1.02 and a current ratio of 1.02. The company has a market capitalization of $37.39 billion, a PE ratio of 17.36, a P/E/G ratio of 4.79 and a beta of 1.54. The company has a 50 day moving average price of $118.18 and a 200-day moving average price of $112.86. Simon Property Group, Inc. has a fifty-two week low of $86.02 and a fifty-two week high of $133.08.

Simon Property Group Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, September 29th. Shareholders of record on Friday, September 8th will be issued a $1.90 dividend. This represents a $7.60 annualized dividend and a dividend yield of 6.65%. This is a boost from Simon Property Group’s previous quarterly dividend of $1.85. The ex-dividend date of this dividend is Thursday, September 7th. Simon Property Group’s dividend payout ratio is currently 115.50%.

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.