New England Research & Management Inc. Sells 3,645 Shares of Simon Property Group, Inc. (NYSE:SPG)

New England Research & Management Inc. reduced its holdings in Simon Property Group, Inc. (NYSE:SPG) by 34.6% during the first quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 6,880 shares of the real estate investment trust’s stock after selling 3,645 shares during the quarter. New England Research & Management Inc.’s holdings in Simon Property Group were worth $1,077,000 at the end of the most recent quarter.

Other large investors have also recently made changes to their positions in the company. Cape Investment Advisory Inc. grew its position in shares of Simon Property Group by 3,200.0% in the 4th quarter. Cape Investment Advisory Inc. now owns 198 shares of the real estate investment trust’s stock worth $28,000 after buying an additional 192 shares during the last quarter. BOK Financial Private Wealth Inc. bought a new stake in shares of Simon Property Group in the 4th quarter worth approximately $34,000. Bruce G. Allen Investments LLC bought a new stake in shares of Simon Property Group in the 4th quarter worth approximately $41,000. Indiana Trust & Investment Management CO bought a new stake in shares of Simon Property Group in the 1st quarter worth approximately $41,000. Finally, Rise Advisors LLC grew its position in shares of Simon Property Group by 145.9% in the 1st quarter. Rise Advisors LLC now owns 273 shares of the real estate investment trust’s stock worth $43,000 after buying an additional 162 shares during the last quarter. 93.01% of the stock is currently owned by institutional investors.

Simon Property Group Trading Up 1.3 %

Simon Property Group stock opened at $151.80 on Friday. The company has a current ratio of 2.19, a quick ratio of 2.19 and a debt-to-equity ratio of 7.20. The business’s fifty day simple moving average is $147.63 and its two-hundred day simple moving average is $146.63. Simon Property Group, Inc. has a 12 month low of $102.11 and a 12 month high of $157.82. The company has a market capitalization of $49.48 billion, a price-to-earnings ratio of 19.34, a price-to-earnings-growth ratio of 8.91 and a beta of 1.71.

Simon Property Group (NYSE:SPG) last released its earnings results on Monday, May 6th. The real estate investment trust reported $2.25 EPS for the quarter, missing the consensus estimate of $2.80 by ($0.55). Simon Property Group had a return on equity of 78.50% and a net margin of 46.49%. The company had revenue of $1.44 billion during the quarter, compared to the consensus estimate of $1.31 billion. During the same period last year, the firm posted $2.74 earnings per share. The company’s revenue was up 6.8% compared to the same quarter last year. As a group, equities analysts predict that Simon Property Group, Inc. will post 12.84 earnings per share for the current fiscal year.

Simon Property Group Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, June 28th. Shareholders of record on Friday, June 7th were issued a $2.00 dividend. This represents a $8.00 annualized dividend and a yield of 5.27%. This is an increase from Simon Property Group’s previous quarterly dividend of $1.95. The ex-dividend date of this dividend was Friday, June 7th. Simon Property Group’s payout ratio is 101.91%.

Analyst Ratings Changes

SPG has been the topic of a number of recent analyst reports. Scotiabank lifted their price objective on Simon Property Group from $142.00 to $152.00 and gave the stock a “sector perform” rating in a research report on Thursday, May 16th. Argus lifted their price target on Simon Property Group from $157.00 to $168.00 and gave the company a “buy” rating in a research report on Tuesday, June 11th. StockNews.com upgraded Simon Property Group from a “hold” rating to a “buy” rating in a research report on Thursday, April 18th. Finally, Truist Financial lifted their price target on Simon Property Group from $139.00 to $147.00 and gave the company a “hold” rating in a research report on Friday, March 22nd. Five research analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $147.60.

Simon Property Group Profile

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.