Archford Capital Strategies LLC decreased its position in shares of Simon Property Group Inc (NYSE:SPG) by 5.6% during the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 2,680 shares of the real estate investment trust’s stock after selling 158 shares during the quarter. Archford Capital Strategies LLC’s holdings in Simon Property Group were worth $488,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Capital Investment Advisory Services LLC purchased a new position in Simon Property Group during the fourth quarter valued at $25,000. Global Retirement Partners LLC grew its holdings in shares of Simon Property Group by 150.0% in the first quarter. Global Retirement Partners LLC now owns 165 shares of the real estate investment trust’s stock valued at $30,000 after purchasing an additional 99 shares in the last quarter. Lindbrook Capital LLC purchased a new stake in shares of Simon Property Group during the 4th quarter worth approximately $35,000. Legacy Advisors LLC purchased a new stake in shares of Simon Property Group during the 1st quarter worth approximately $36,000. Finally, Sontag Advisory LLC purchased a new stake in Simon Property Group in the 4th quarter valued at $37,000. 95.73% of the stock is currently owned by institutional investors.

Simon Property Group stock opened at $162.67 on Wednesday. Simon Property Group Inc has a one year low of $159.69 and a one year high of $191.49. The company has a debt-to-equity ratio of 6.34, a quick ratio of 1.01 and a current ratio of 1.01. The firm has a market cap of $49.86 billion, a price-to-earnings ratio of 13.41, a P/E/G ratio of 2.97 and a beta of 0.56.

Simon Property Group (NYSE:SPG) last announced its earnings results on Tuesday, April 30th. The real estate investment trust reported $3.04 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $3.02 by $0.02. The firm had revenue of $1.45 billion for the quarter, compared to the consensus estimate of $1.43 billion. Simon Property Group had a return on equity of 62.69% and a net margin of 41.45%. The business’s quarterly revenue was up 4.2% compared to the same quarter last year. During the same period in the previous year, the business earned $2.00 EPS. Equities research analysts expect that Simon Property Group Inc will post 12.38 earnings per share for the current fiscal year.

Simon Property Group announced that its Board of Directors has approved a stock buyback program on Tuesday, February 12th that authorizes the company to repurchase $2.00 billion in shares. This repurchase authorization authorizes the real estate investment trust to repurchase up to 3.4% of its stock through open market purchases. Stock repurchase programs are typically a sign that the company’s board of directors believes its stock is undervalued.

The firm also recently announced a quarterly dividend, which was paid on Friday, May 31st. Stockholders of record on Friday, May 17th were issued a $2.05 dividend. This represents a $8.20 annualized dividend and a dividend yield of 5.04%. The ex-dividend date was Thursday, May 16th. Simon Property Group’s dividend payout ratio is presently 67.60%.

In related news, insider John Rulli sold 9,160 shares of the stock in a transaction on Thursday, May 16th. The stock was sold at an average price of $176.17, for a total value of $1,613,717.20. Following the sale, the insider now owns 29,646 shares in the company, valued at $5,222,735.82. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Corporate insiders own 8.75% of the company’s stock.

SPG has been the topic of a number of recent analyst reports. Mizuho cut shares of Simon Property Group from a “buy” rating to a “neutral” rating and set a $193.00 price target on the stock. in a research note on Friday, February 15th. JPMorgan Chase & Co. cut their price target on shares of Simon Property Group from $198.00 to $193.00 and set an “overweight” rating on the stock in a report on Monday, June 3rd. Deutsche Bank set a $188.00 price objective on shares of Simon Property Group and gave the company a “hold” rating in a research report on Tuesday. Finally, Barclays reissued a “buy” rating and set a $202.00 price target on shares of Simon Property Group in a research report on Tuesday, April 16th. Seven equities research analysts have rated the stock with a hold rating and seven have given a buy rating to the company’s stock. The stock currently has an average rating of “Buy” and an average price target of $192.00.

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Simon Property Group Company Profile

Simon is a global leader 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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