Family Firm Inc. Takes $97,000 Position in Simon Property Group, Inc. (NYSE:SPG)

Family Firm Inc. purchased a new position in shares of Simon Property Group, Inc. (NYSE:SPG) during the second quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor purchased 640 shares of the real estate investment trust’s stock, valued at approximately $97,000.

Other hedge funds have also made changes to their positions in the company. Clearstead Trust LLC bought a new stake in Simon Property Group in the first quarter valued at $25,000. Opal Wealth Advisors LLC acquired a new position in Simon Property Group during the 2nd quarter valued at about $25,000. EntryPoint Capital LLC bought a new position in Simon Property Group in the 1st quarter worth about $26,000. Cape Investment Advisory Inc. increased its stake in shares of Simon Property Group by 3,200.0% in 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 during the period. Finally, Pathway Financial Advisers LLC bought a new stake in shares of Simon Property Group during the first quarter valued at approximately $29,000. Institutional investors own 93.01% of the company’s stock.

Insider Transactions 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 that occurred on Friday, June 28th. The stock was acquired at an average price of $150.17 per share, with a total value of $72,982.62. Following the purchase, the director now owns 55,001 shares in the company, valued at $8,259,500.17. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. 8.50% of the stock is currently owned by company insiders.

Simon Property Group Trading Up 2.6 %

Simon Property Group stock traded up $4.29 during midday trading on Friday, reaching $166.50. The stock had a trading volume of 1,325,908 shares, compared to its average volume of 1,456,188. The firm’s fifty day simple moving average is $152.28 and its two-hundred day simple moving average is $149.72. The company has a debt-to-equity ratio of 7.53, a current ratio of 2.04 and a quick ratio of 2.04. Simon Property Group, Inc. has a twelve month low of $102.11 and a twelve month high of $166.96. The firm has a market cap of $54.29 billion, a price-to-earnings ratio of 21.21, a PEG ratio of 8.58 and a beta of 1.75.

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

Simon Property Group Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, September 30th. Investors of record on Monday, September 9th will be given a dividend of $2.05 per share. This represents a $8.20 annualized dividend and a yield of 4.92%. The ex-dividend date is Monday, September 9th. This is a positive change from Simon Property Group’s previous quarterly dividend of $2.00. Simon Property Group’s dividend payout ratio (DPR) is presently 101.91%.

Analyst Ratings Changes

Several analysts recently commented on SPG shares. StockNews.com upgraded Simon Property Group from a “hold” rating to a “buy” rating in a research report on Friday, August 16th. Mizuho lifted their price objective on shares of Simon Property Group from $155.00 to $158.00 and gave the company a “neutral” rating in a research note on Monday, August 19th. Argus increased their target price on shares of Simon Property Group from $157.00 to $168.00 and gave the company a “buy” rating in a research report on Tuesday, June 11th. Stifel Nicolaus increased their price objective on shares of Simon Property Group from $152.00 to $157.50 and gave the company a “buy” rating in a report on Tuesday, August 6th. Finally, Evercore ISI raised their price objective on shares of Simon Property Group from $150.00 to $155.00 and gave the company an “in-line” rating in a research note on Tuesday, August 6th. Six research analysts have rated the stock with a hold rating and five have issued a buy rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Hold” and an average target price of $153.95.

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.