Bard Financial Services Inc. Sells 250 Shares of Simon Property Group, Inc. (NYSE:SPG)

Bard Financial Services Inc. reduced its holdings in shares of Simon Property Group, Inc. (NYSE:SPG) by 10.2% in the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 2,210 shares of the real estate investment trust’s stock after selling 250 shares during the quarter. Bard Financial Services Inc.’s holdings in Simon Property Group were worth $374,000 as of its most recent SEC filing.

A number of other large investors have also added to or reduced their stakes in the business. Sequoia Financial Advisors LLC lifted its position in Simon Property Group by 51.8% during the second quarter. Sequoia Financial Advisors LLC now owns 6,209 shares of the real estate investment trust’s stock worth $943,000 after acquiring an additional 2,119 shares during the last quarter. Wealth Enhancement Advisory Services LLC increased its position in Simon Property Group by 11.9% during the second quarter. Wealth Enhancement Advisory Services LLC now owns 34,054 shares of the real estate investment trust’s stock worth $5,169,000 after acquiring an additional 3,626 shares during the period. ORG Partners LLC acquired a new stake in Simon Property Group in the 2nd quarter worth about $436,000. Envestnet Portfolio Solutions Inc. boosted its holdings in Simon Property Group by 8.1% in the 2nd quarter. Envestnet Portfolio Solutions Inc. now owns 26,948 shares of the real estate investment trust’s stock valued at $4,091,000 after purchasing an additional 2,016 shares during the period. Finally, Galvin Gaustad & Stein LLC acquired a new position in shares of Simon Property Group during the 2nd quarter worth approximately $219,000. Institutional investors own 93.01% of the company’s stock.

Wall Street Analysts Forecast Growth

Several brokerages recently issued reports on SPG. Stifel Nicolaus reiterated a “hold” rating and issued a $159.00 price target (up from $157.50) on shares of Simon Property Group in a research note on Thursday, September 12th. Scotiabank increased their target price on Simon Property Group from $152.00 to $169.00 and gave the stock a “sector perform” rating in a report on Monday, August 26th. Evercore ISI raised Simon Property Group from an “in-line” rating to an “outperform” rating and boosted their price target for the company from $160.00 to $172.00 in a research note on Monday, September 16th. StockNews.com downgraded shares of Simon Property Group from a “buy” rating to a “hold” rating in a research note on Thursday, October 10th. Finally, Mizuho boosted their price target on Simon Property Group from $158.00 to $182.00 and gave the stock a “neutral” rating in a report on Wednesday, December 4th. Seven research analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus price target of $165.44.

Simon Property Group Stock Performance

NYSE:SPG opened at $176.58 on Thursday. The stock’s 50-day moving average is $176.12 and its 200-day moving average is $163.15. Simon Property Group, Inc. has a 1-year low of $133.11 and a 1-year high of $186.00. The company has a current ratio of 2.00, a quick ratio of 2.00 and a debt-to-equity ratio of 8.20. The stock has a market cap of $57.61 billion, a P/E ratio of 23.51, a price-to-earnings-growth ratio of 10.75 and a beta of 1.75.

Simon Property Group (NYSE:SPG) last announced its quarterly earnings results on Friday, November 1st. The real estate investment trust reported $1.46 earnings per share (EPS) for the quarter, missing the consensus estimate of $3.00 by ($1.54). Simon Property Group had a net margin of 43.36% and a return on equity of 76.21%. The business had revenue of $1.48 billion during the quarter, compared to analyst estimates of $1.32 billion. During the same quarter last year, the company posted $3.20 earnings per share. The company’s revenue was up 4.9% compared to the same quarter last year. Equities research analysts anticipate that Simon Property Group, Inc. will post 12.76 earnings per share for the current year.

Simon Property Group Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, December 30th. Stockholders of record on Monday, December 9th will be paid a $2.10 dividend. This is a boost from Simon Property Group’s previous quarterly dividend of $2.05. The ex-dividend date is Monday, December 9th. This represents a $8.40 annualized dividend and a dividend yield of 4.76%. Simon Property Group’s dividend payout ratio is presently 109.19%.

Insider Activity at Simon Property Group

In other news, Director Allan B. Hubbard bought 370 shares of the company’s stock in a transaction that occurred on Monday, September 30th. The shares were acquired at an average price of $167.30 per share, for a total transaction of $61,901.00. Following the completion of the acquisition, the director now directly owns 34,301 shares in the company, valued at approximately $5,738,557.30. This represents a 1.09 % increase in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this link. 8.60% of the stock is currently owned by company insiders.

Simon Property Group Profile

Simon Property Group, Inc (NYSE:SPG) is a self-administered and self-managed real estate investment trust (REIT). Simon Property Group, L.P., or the Operating Partnership, is our majority-owned partnership subsidiary that owns all of our real estate properties and other assets. In this package, the terms Simon, we, our, or the Company refer to Simon Property Group, Inc, the Operating Partnership, and its subsidiaries.