Douglas Lane & Associates LLC Buys 4,603 Shares of Simon Property Group, Inc. (NYSE:SPG)

Defense World · Sep 26, 2022 19:22

Douglas Lane & Associates LLC lifted its stake in shares of Simon Property Group, Inc. (NYSE:SPG – Get Rating) by 2.0% in the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 235,156 shares of the real estate investment trust's stock after acquiring an additional 4,603 shares during the quarter. Douglas Lane & Associates LLC owned about 0.07% of Simon Property Group worth $22,321,000 as of its most recent filing with the SEC.

Other large investors also recently made changes to their positions in the company. Tradition Wealth Management LLC bought a new stake in shares of Simon Property Group during the 1st quarter worth about $25,000. Cyrus J. Lawrence LLC bought a new stake in shares of Simon Property Group during the 1st quarter worth about $29,000. Tyler Stone Wealth Management bought a new stake in Simon Property Group during the 4th quarter valued at approximately $38,000. SOA Wealth Advisors LLC. boosted its stake in Simon Property Group by 2,000.0% during the 1st quarter. SOA Wealth Advisors LLC. now owns 294 shares of the real estate investment trust's stock valued at $38,000 after purchasing an additional 280 shares during the period. Finally, Riverview Trust Co bought a new stake in Simon Property Group during the 1st quarter valued at approximately $38,000. Institutional investors own 81.86% of the company's stock.

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Analyst Ratings Changes

Several brokerages recently weighed in on SPG. Mizuho decreased their target price on Simon Property Group from $158.00 to $115.00 and set a "neutral" rating for the company in a research note on Wednesday, August 3rd. Deutsche Bank Aktiengesellschaft decreased their target price on Simon Property Group from $173.00 to $129.00 in a research note on Monday, July 18th. Truist Financial reduced their price objective on Simon Property Group from $130.00 to $125.00 and set a "hold" rating for the company in a research report on Monday, August 15th. Piper Sandler reduced their price objective on Simon Property Group to $130.00 in a research report on Monday, July 4th. Finally, Jefferies Financial Group downgraded Simon Property Group from a "buy" rating to a "hold" rating and reduced their price objective for the stock from $160.00 to $100.00 in a research report on Thursday, June 30th. Seven analysts have rated the stock with a hold rating and seven have assigned a buy rating to the stock. According to data from MarketBeat, the company presently has an average rating of "Moderate Buy" and a consensus target price of $142.29.

Simon Property Group Trading Down 2.2 %

SPG stock opened at $90.18 on Monday. The business has a fifty day moving average price of $104.66 and a 200 day moving average price of $111.53. Simon Property Group, Inc. has a fifty-two week low of $88.54 and a fifty-two week high of $171.12. The stock has a market capitalization of $30.92 billion, a price-to-earnings ratio of 14.07, a P/E/G ratio of 1.70 and a beta of 1.49. The company has a debt-to-equity ratio of 7.13, a current ratio of 1.02 and a quick ratio of 1.02.

Simon Property Group (NYSE:SPG – Get Rating) last released its quarterly earnings results on Monday, August 1st. The real estate investment trust reported $1.51 earnings per share for the quarter, beating analysts' consensus estimates of $1.43 by $0.08. Simon Property Group had a return on equity of 56.93% and a net margin of 40.59%. The firm had revenue of $1.28 billion during the quarter, compared to analysts' expectations of $1.25 billion. During the same period last year, the firm posted $2.92 EPS. The business's revenue was up 2.0% on a year-over-year basis. Analysts expect that Simon Property Group, Inc. will post 11.66 EPS for the current fiscal year.

Simon Property Group Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, September 30th. Stockholders of record on Friday, September 9th will be paid a $1.75 dividend. This is a boost from Simon Property Group's previous quarterly dividend of $1.70. This represents a $7.00 annualized dividend and a dividend yield of 7.76%. The ex-dividend date of this dividend is Thursday, September 8th. Simon Property Group's dividend payout ratio (DPR) is 109.20%.

Simon Property Group Profile

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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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