2,504 Shares in Simon Property Group, Inc. (NYSE:SPG) Acquired by Sagespring Wealth Partners LLC

Sagespring Wealth Partners LLC acquired a new stake in Simon Property Group, Inc. (NYSE:SPG) during the 4th quarter, Holdings Channel reports. The institutional investor acquired 2,504 shares of the real estate investment trust’s stock, valued at approximately $431,000.

Several other hedge funds also recently bought and sold shares of the business. Morse Asset Management Inc bought a new position in Simon Property Group in the third quarter worth approximately $155,000. SkyView Investment Advisors LLC grew its holdings in Simon Property Group by 4.3% during the 3rd quarter. SkyView Investment Advisors LLC now owns 3,803 shares of the real estate investment trust’s stock worth $643,000 after acquiring an additional 158 shares in the last quarter. World Investment Advisors LLC raised its holdings in shares of Simon Property Group by 17.3% in the 3rd quarter. World Investment Advisors LLC now owns 3,534 shares of the real estate investment trust’s stock valued at $597,000 after purchasing an additional 521 shares in the last quarter. Wilmington Savings Fund Society FSB purchased a new stake in shares of Simon Property Group in the 3rd quarter worth approximately $834,000. Finally, Blankinship & Foster LLC bought a new position in shares of Simon Property Group during the third quarter valued at approximately $608,000. Institutional investors own 93.01% of the company’s stock.

Simon Property Group Price Performance

Shares of SPG stock opened at $149.35 on Wednesday. Simon Property Group, Inc. has a fifty-two week low of $136.34 and a fifty-two week high of $190.14. The company has a debt-to-equity ratio of 7.19, a quick ratio of 2.00 and a current ratio of 1.28. The firm has a market capitalization of $48.73 billion, a price-to-earnings ratio of 20.57, a PEG ratio of 10.10 and a beta of 1.45. The stock’s 50-day simple moving average is $168.88 and its 200-day simple moving average is $173.01.

Simon Property Group (NYSE:SPG) last released its earnings results on Tuesday, February 4th. The real estate investment trust reported $3.68 earnings per share for the quarter, topping the consensus estimate of $1.98 by $1.70. Simon Property Group had a net margin of 41.49% and a return on equity of 74.02%. As a group, equities analysts forecast that Simon Property Group, Inc. will post 12.54 earnings per share for the current fiscal year.

Simon Property Group Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Monday, March 31st. Investors of record on Monday, March 10th were given a $2.10 dividend. This represents a $8.40 annualized dividend and a dividend yield of 5.62%. The ex-dividend date of this dividend was Monday, March 10th. Simon Property Group’s payout ratio is 115.70%.

Analysts Set New Price Targets

A number of analysts have weighed in on the company. StockNews.com lowered Simon Property Group from a “buy” rating to a “hold” rating in a report on Saturday, March 29th. Jefferies Financial Group raised Simon Property Group from a “hold” rating to a “buy” rating and boosted their price target for the stock from $179.00 to $198.00 in a research report on Thursday, January 2nd. Stifel Nicolaus raised Simon Property Group from a “hold” rating to a “buy” rating and set a $168.50 price objective on the stock in a research report on Wednesday, April 9th. Piper Sandler upgraded shares of Simon Property Group from a “neutral” rating to an “overweight” rating and boosted their target price for the stock from $175.00 to $205.00 in a report on Wednesday, February 5th. Finally, Scotiabank set a $186.00 price target on shares of Simon Property Group in a research report on Friday, February 28th. Five analysts have rated the stock with a hold rating and five have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $181.39.

About Simon Property Group

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.