912 Shares in Simon Property Group, Inc. (NYSE:SPG) Acquired by Triad Wealth Partners LLC

Triad Wealth Partners LLC bought a new position in Simon Property Group, Inc. (NYSE:SPG) during the second quarter, according to its most recent filing with the Securities and Exchange Commission. The fund bought 912 shares of the real estate investment trust’s stock, valued at approximately $138,000.

Other institutional investors have also made changes to their positions in the company. Clearstead Trust LLC purchased a new position in shares of Simon Property Group in the first quarter worth approximately $25,000. Opal Wealth Advisors LLC purchased a new position in Simon Property Group during the second quarter valued at approximately $25,000. EntryPoint Capital LLC purchased a new position in Simon Property Group during the first quarter valued at approximately $26,000. Cape Investment Advisory Inc. grew its position in Simon Property Group by 3,200.0% during the fourth quarter. Cape Investment Advisory Inc. now owns 198 shares of the real estate investment trust’s stock valued at $28,000 after purchasing an additional 192 shares in the last quarter. Finally, Pathway Financial Advisers LLC purchased a new position in Simon Property Group during the first quarter valued at approximately $29,000. 93.01% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of brokerages recently commented on SPG. StockNews.com raised shares of Simon Property Group from a “hold” rating to a “buy” rating in a research report on Friday. Evercore ISI boosted their target price on shares of Simon Property Group from $150.00 to $155.00 and gave the stock an “in-line” rating in a research report on Tuesday, August 6th. Argus boosted their target price on shares of Simon Property Group from $157.00 to $168.00 and gave the stock a “buy” rating in a research report on Tuesday, June 11th. Scotiabank boosted their target price on shares of 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. Finally, Stifel Nicolaus boosted their target price on shares of Simon Property Group from $152.00 to $157.50 and gave the stock a “buy” rating in a research report on Tuesday, August 6th. Five research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $153.50.

Insider Activity at Simon Property Group

In other Simon Property Group news, Director Reuben S. Leibowitz acquired 486 shares of Simon Property Group stock in a transaction dated Friday, June 28th. The stock was bought at an average cost of $150.17 per share, with a total value of $72,982.62. Following the acquisition, the director now owns 55,001 shares of the company’s stock, valued at $8,259,500.17. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Corporate insiders own 8.50% of the company’s stock.

Simon Property Group Stock Performance

NYSE:SPG traded down $1.16 during trading hours on Friday, hitting $156.70. 1,422,629 shares of the company traded hands, compared to its average volume of 1,396,242. The stock has a market capitalization of $51.07 billion, a price-to-earnings ratio of 19.97, a P/E/G ratio of 8.59 and a beta of 1.75. Simon Property Group, Inc. has a twelve month low of $102.11 and a twelve month high of $161.30. The firm has a 50-day moving average of $151.23 and a 200 day moving average of $148.91. The company has a current ratio of 2.04, a quick ratio of 2.04 and a debt-to-equity ratio of 7.53.

Simon Property Group (NYSE:SPG) last released its earnings results on Monday, August 5th. The real estate investment trust reported $1.51 EPS for the quarter, missing the consensus estimate of $2.93 by ($1.42). The company had revenue of $1.32 billion for the quarter, compared to analyst estimates of $1.30 billion. Simon Property Group had a net margin of 45.90% and a return on equity of 78.14%. Simon Property Group’s revenue for the quarter was up 4.8% compared to the same quarter last year. During the same quarter in the previous year, the company earned $2.88 earnings per share. On average, analysts forecast that Simon Property Group, Inc. will post 12.85 EPS for the current year.

Simon Property Group Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, September 30th. Investors of record on Monday, September 9th will be paid a dividend of $2.05 per share. This is a boost from Simon Property Group’s previous quarterly dividend of $2.00. This represents a $8.20 annualized dividend and a yield of 5.23%. The ex-dividend date is Monday, September 9th. Simon Property Group’s dividend payout ratio is presently 101.91%.

About Simon Property Group

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.