ORG Partners LLC Reduces Stock Holdings in Simon Property Group, Inc. (NYSE:SPG)

ORG Partners LLC lowered its position in Simon Property Group, Inc. (NYSE:SPG) by 78.3% in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 738 shares of the real estate investment trust’s stock after selling 2,665 shares during the quarter. ORG Partners LLC’s holdings in Simon Property Group were worth $123,000 at the end of the most recent reporting period.

Other hedge funds have also recently modified their holdings of the company. Hopwood Financial Services Inc. purchased a new stake in shares of Simon Property Group in the fourth quarter valued at about $28,000. WR Wealth Planners LLC grew its holdings in shares of Simon Property Group by 328.2% in the fourth quarter. WR Wealth Planners LLC now owns 167 shares of the real estate investment trust’s stock valued at $29,000 after purchasing an additional 128 shares during the period. New England Capital Financial Advisors LLC purchased a new stake in shares of Simon Property Group in the fourth quarter valued at about $30,000. Caisse Des Depots ET Consignations purchased a new stake in shares of Simon Property Group in the fourth quarter valued at about $31,000. Finally, TCTC Holdings LLC purchased a new stake in shares of Simon Property Group in the fourth quarter valued at about $34,000. Hedge funds and other institutional investors own 93.01% of the company’s stock.

Analyst Upgrades and Downgrades

Several research analysts have weighed in on SPG shares. Stifel Nicolaus increased their target price on shares of Simon Property Group from $168.50 to $180.00 and gave the stock a “buy” rating in a research note on Tuesday, May 13th. Piper Sandler lowered their target price on shares of Simon Property Group from $205.00 to $200.00 and set an “overweight” rating for the company in a research note on Friday, May 23rd. JPMorgan Chase & Co. lowered their target price on shares of Simon Property Group from $192.00 to $180.00 and set a “neutral” rating for the company in a research note on Thursday, May 22nd. Wall Street Zen lowered shares of Simon Property Group from a “buy” rating to a “hold” rating in a research note on Saturday, March 29th. Finally, Scotiabank increased their target price on shares of Simon Property Group from $159.00 to $163.00 and gave the stock a “sector perform” rating in a research note on Tuesday, June 17th. Six research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. According to data from MarketBeat.com, Simon Property Group presently has an average rating of “Hold” and an average target price of $179.44.

Simon Property Group Stock Up 0.1%

Shares of SPG opened at $157.34 on Friday. The stock has a market capitalization of $51.36 billion, a PE ratio of 25.05, a P/E/G ratio of 8.77 and a beta of 1.47. Simon Property Group, Inc. has a 1 year low of $136.34 and a 1 year high of $190.14. The company has a debt-to-equity ratio of 8.29, a quick ratio of 1.45 and a current ratio of 1.45. The company’s 50-day simple moving average is $158.69 and its 200-day simple moving average is $167.57.

Simon Property Group (NYSE:SPG) last issued its quarterly earnings results on Monday, May 12th. The real estate investment trust reported $2.95 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.91 by $0.04. The business had revenue of $1.47 billion for the quarter, compared to analysts’ expectations of $1.34 billion. Simon Property Group had a net margin of 35.98% and a return on equity of 67.32%. The business’s quarterly revenue was up 2.1% on a year-over-year basis. During the same quarter in the prior year, the company earned $3.56 earnings per share. 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 will be paid on Monday, June 30th. Investors of record on Monday, June 9th will be issued a $2.10 dividend. The ex-dividend date is Monday, June 9th. This represents a $8.40 annualized dividend and a yield of 5.34%. Simon Property Group’s dividend payout ratio (DPR) is 133.76%.

Simon Property Group Profile

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.