Sequoia Financial Advisors LLC Boosts Holdings in Simon Property Group, Inc. (NYSE:SPG)

Sequoia Financial Advisors LLC grew its stake in shares of Simon Property Group, Inc. (NYSE:SPGFree Report) by 18.2% in the third quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 3,628 shares of the real estate investment trust’s stock after purchasing an additional 558 shares during the quarter. Sequoia Financial Advisors LLC’s holdings in Simon Property Group were worth $392,000 at the end of the most recent quarter.

Other institutional investors have also recently made changes to their positions in the company. Nemes Rush Group LLC purchased a new stake in shares of Simon Property Group during the second quarter valued at approximately $26,000. Financial Freedom LLC purchased a new stake in shares of Simon Property Group during the fourth quarter valued at approximately $27,000. DT Investment Partners LLC boosted its stake in shares of Simon Property Group by 714.3% during the third quarter. DT Investment Partners LLC now owns 228 shares of the real estate investment trust’s stock valued at $25,000 after purchasing an additional 200 shares during the period. Arlington Trust Co LLC bought a new position in shares of Simon Property Group during the third quarter valued at approximately $25,000. Finally, Tyler Stone Wealth Management bought a new position in shares of Simon Property Group during the second quarter valued at approximately $27,000. Hedge funds and other institutional investors own 84.73% of the company’s stock.

Simon Property Group Trading Up 2.0 %

NYSE SPG opened at $146.93 on Friday. Simon Property Group, Inc. has a 12 month low of $100.17 and a 12 month high of $147.37. The stock has a market cap of $47.94 billion, a P/E ratio of 21.05, a P/E/G ratio of 6.92 and a beta of 1.65. The stock’s fifty day moving average price is $141.16 and its 200-day moving average price is $123.74. The company has a current ratio of 1.77, a quick ratio of 0.94 and a debt-to-equity ratio of 7.54.

Simon Property Group (NYSE:SPGGet Free Report) last released its earnings results on Monday, February 5th. The real estate investment trust reported $2.29 EPS for the quarter, missing analysts’ consensus estimates of $3.34 by ($1.05). Simon Property Group had a return on equity of 70.97% and a net margin of 42.30%. The company had revenue of $1.53 billion during the quarter, compared to analysts’ expectations of $1.38 billion. During the same period in the prior year, the company posted $3.15 earnings per share. The company’s revenue was up 9.1% on a year-over-year basis. As a group, equities analysts forecast that Simon Property Group, Inc. will post 12.04 EPS for the current fiscal year.

Simon Property Group Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, March 29th. Stockholders of record on Friday, March 8th will be paid a $1.95 dividend. This is a boost from Simon Property Group’s previous quarterly dividend of $1.90. This represents a $7.80 dividend on an annualized basis and a dividend yield of 5.31%. The ex-dividend date of this dividend is Thursday, March 7th. Simon Property Group’s dividend payout ratio is currently 108.88%.

Analyst Ratings Changes

A number of equities analysts recently commented on the company. Morgan Stanley downgraded Simon Property Group from an “overweight” rating to an “equal weight” rating and upped their target price for the company from $132.00 to $143.00 in a report on Thursday, December 21st. Truist Financial upped their target price on Simon Property Group from $128.00 to $139.00 and gave the company a “hold” rating in a report on Tuesday, January 16th. StockNews.com upgraded Simon Property Group from a “hold” rating to a “buy” rating in a report on Friday, January 19th. Piper Sandler upped their target price on Simon Property Group from $148.00 to $172.00 and gave the company an “overweight” rating in a report on Wednesday, December 20th. Finally, Stifel Nicolaus decreased their target price on Simon Property Group from $139.00 to $130.00 and set a “buy” rating for the company in a report on Tuesday, October 31st. Three research analysts have rated the stock with a hold rating and five have given a buy rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $137.75.

View Our Latest Stock Report on SPG

About Simon Property Group

(Free Report)

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.

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Institutional Ownership by Quarter for Simon Property Group (NYSE:SPG)

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