Factory Mutual Insurance Co. Lowers Stock Holdings in Simon Property Group, Inc. (NYSE:SPG)

Factory Mutual Insurance Co. reduced its position in Simon Property Group, Inc. (NYSE:SPGFree Report) by 18.3% in the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 160,592 shares of the real estate investment trust’s stock after selling 36,000 shares during the quarter. Factory Mutual Insurance Co.’s holdings in Simon Property Group were worth $25,131,000 at the end of the most recent quarter.

Several other hedge funds also recently bought and sold shares of the company. Cape Investment Advisory Inc. grew its position in shares of Simon Property Group by 3,200.0% during the 4th 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. BOK Financial Private Wealth Inc. purchased a new position in Simon Property Group during the fourth quarter worth about $34,000. Bruce G. Allen Investments LLC bought a new position in Simon Property Group in the 4th quarter worth about $41,000. Rise Advisors LLC raised its holdings 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 valued at $43,000 after acquiring an additional 162 shares in the last quarter. Finally, Highlander Capital Management LLC raised its holdings in shares of Simon Property Group by 183.5% in the 4th quarter. Highlander Capital Management LLC now owns 309 shares of the real estate investment trust’s stock valued at $44,000 after acquiring an additional 200 shares in the last quarter. Hedge funds and other institutional investors own 93.01% of the company’s stock.

Simon Property Group Trading Down 1.9 %

SPG stock traded down $2.86 during trading on Tuesday, hitting $147.59. 586,466 shares of the company traded hands, compared to its average volume of 1,477,348. The company has a debt-to-equity ratio of 7.20, a quick ratio of 2.19 and a current ratio of 2.19. The company has a 50-day moving average of $146.93 and a 200-day moving average of $146.38. The firm has a market capitalization of $48.11 billion, a PE ratio of 19.17, a P/E/G ratio of 8.69 and a beta of 1.71. Simon Property Group, Inc. has a 1 year low of $102.11 and a 1 year high of $157.82.

Simon Property Group (NYSE:SPGGet Free Report) last issued its earnings results on Monday, May 6th. The real estate investment trust reported $2.25 earnings per share (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 firm had revenue of $1.44 billion during the quarter, compared to the consensus estimate of $1.31 billion. During the same quarter in the prior year, the business posted $2.74 EPS. The firm’s revenue for the quarter was up 6.8% on a year-over-year basis. 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 company also recently disclosed a quarterly dividend, which will be paid on Friday, June 28th. Stockholders of record on Friday, June 7th will be paid a dividend of $2.00 per share. This represents a $8.00 annualized dividend and a dividend yield of 5.42%. This is an increase from Simon Property Group’s previous quarterly dividend of $1.95. The ex-dividend date of this dividend is Friday, June 7th. Simon Property Group’s dividend payout ratio is 101.91%.

Analyst Ratings Changes

A number of equities research analysts recently weighed in on SPG shares. Scotiabank raised their target price on shares of Simon Property Group from $142.00 to $152.00 and gave the company a “sector perform” rating in a research note on Thursday, May 16th. Argus lifted their price objective on shares of Simon Property Group from $157.00 to $168.00 and gave the stock a “buy” rating in a report on Tuesday, June 11th. Truist Financial increased their target price on Simon Property Group from $139.00 to $147.00 and gave the company a “hold” rating in a research note on Friday, March 22nd. StockNews.com raised Simon Property Group from a “hold” rating to a “buy” rating in a research note on Thursday, April 18th. Finally, Morgan Stanley increased their price objective on Simon Property Group from $143.00 to $145.00 and gave the company an “equal weight” rating in a research report on Monday, February 26th. Five investment analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. According to MarketBeat.com, Simon Property Group presently has a consensus rating of “Moderate Buy” and an average price target of $147.60.

View Our Latest Stock Report on Simon Property Group

Simon Property Group Company Profile

(Free Report)

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.

See Also

Institutional Ownership by Quarter for Simon Property Group (NYSE:SPG)

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