Simon Property Group, Inc. (NYSE:SPG) Shares Purchased by Sound Income Strategies LLC

Sound Income Strategies LLC boosted its holdings in Simon Property Group, Inc. (NYSE:SPG – Get Rating) by 18.5% in the fourth quarter, HoldingsChannel.com reports. The firm owned 63,648 shares of the real estate investment trust’s stock after buying an additional 9,955 shares during the quarter. Sound Income Strategies LLC’s holdings in Simon Property Group were worth $7,477,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in SPG. Parkside Financial Bank & Trust boosted 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 valued at $84,000 after acquiring an additional 93 shares during the period. Riverview Trust Co boosted its holdings in shares of Simon Property Group by 46.0% in the third quarter. Riverview Trust Co now owns 308 shares of the real estate investment trust’s stock valued at $28,000 after acquiring an additional 97 shares during the period. Global Retirement Partners LLC boosted its holdings in shares of Simon Property Group by 27.9% in the third quarter. Global Retirement Partners LLC now owns 449 shares of the real estate investment trust’s stock valued at $49,000 after acquiring an additional 98 shares during the period. Tiedemann Advisors LLC boosted its holdings in shares of Simon Property Group by 1.9% in the third quarter. Tiedemann Advisors LLC now owns 5,431 shares of the real estate investment trust’s stock valued at $487,000 after acquiring an additional 101 shares during the period. Finally, Brinker Capital Investments LLC boosted its holdings in shares of Simon Property Group by 2.7% in the third quarter. Brinker Capital Investments LLC now owns 4,355 shares of the real estate investment trust’s stock valued at $391,000 after acquiring an additional 114 shares during the period. 83.89% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several equities research analysts have recently weighed in on the company. Deutsche Bank Aktiengesellschaft increased their price objective on Simon Property Group from $115.00 to $130.00 in a report on Tuesday, January 3rd. Morgan Stanley increased their price target on Simon Property Group from $131.00 to $132.00 and gave the stock an “overweight” rating in a report on Wednesday, February 22nd. Citigroup increased their price target on Simon Property Group from $100.00 to $120.00 in a report on Wednesday, December 14th. StockNews.com began coverage on Simon Property Group in a report on Thursday. They set a “hold” rating for the company. Finally, Mizuho decreased their price target on Simon Property Group from $130.00 to $116.00 in a report on Monday, March 13th. Seven investment analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. According to MarketBeat, the stock has a consensus rating of “Hold” and a consensus target price of $130.58.

Simon Property Group Price Performance

NYSE:SPG traded down $4.89 during trading hours on Friday, hitting $104.31. The company’s stock had a trading volume of 3,488,984 shares, compared to its average volume of 1,622,498. The business’s 50-day moving average is $122.36 and its two-hundred day moving average is $113.18. The company has a market capitalization of $34.10 billion, a PE ratio of 16.00, a PEG ratio of 2.64 and a beta of 1.52. The company has a debt-to-equity ratio of 6.99, a quick ratio of 0.97 and a current ratio of 0.97. Simon Property Group, Inc. has a 52-week low of $86.02 and a 52-week high of $138.65.

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

Simon Property Group Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, March 31st. Stockholders of record on Friday, March 10th will be given a $1.80 dividend. This represents a $7.20 dividend on an annualized basis and a dividend yield of 6.90%. The ex-dividend date is Thursday, March 9th. Simon Property Group’s dividend payout ratio is currently 110.43%.

Simon Property Group Company Profile

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Simon Property Group, Inc is a self-administered and self-managed real estate investment trust, which engages in the ownership, development, and management of shopping, dining, entertainment, and mixed-used destinations, which consist primarily of malls, Premium Outlets, and The Mills. The company was founded by Fred Simon, Herbert Simon and Melvin Simon in 1993 and is headquartered in Indianapolis, IN.