Everhart Financial Group Inc. Has $644,000 Stake in Simon Property Group, Inc. (NYSE:SPG)

Everhart Financial Group Inc. lifted its stake in shares of Simon Property Group, Inc. (NYSE:SPG) by 9.0% during the first quarter, Holdings Channel reports. The fund owned 3,878 shares of the real estate investment trust’s stock after buying an additional 320 shares during the quarter. Everhart Financial Group Inc.’s holdings in Simon Property Group were worth $644,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also bought and sold shares of the stock. Norges Bank bought a new stake in Simon Property Group in the fourth quarter valued at $2,059,505,000. Geode Capital Management LLC grew its stake in shares of Simon Property Group by 2.6% in the 4th quarter. Geode Capital Management LLC now owns 9,160,242 shares of the real estate investment trust’s stock valued at $1,577,600,000 after buying an additional 230,982 shares during the period. Northern Trust Corp increased its position in Simon Property Group by 45.9% in the 4th quarter. Northern Trust Corp now owns 5,462,856 shares of the real estate investment trust’s stock valued at $940,758,000 after buying an additional 1,718,398 shares in the last quarter. JPMorgan Chase & Co. raised its stake in Simon Property Group by 5.5% during the 4th quarter. JPMorgan Chase & Co. now owns 4,710,538 shares of the real estate investment trust’s stock worth $811,202,000 after buying an additional 246,630 shares during the period. Finally, Invesco Ltd. boosted its holdings in Simon Property Group by 14.8% in the fourth quarter. Invesco Ltd. now owns 4,216,575 shares of the real estate investment trust’s stock worth $726,136,000 after acquiring an additional 542,511 shares in the last quarter. 93.01% of the stock is owned by institutional investors.

Simon Property Group Stock Performance

NYSE SPG opened at $156.67 on Friday. The company has a fifty day moving average price of $157.80 and a 200-day moving average price of $168.55. The firm has a market cap of $51.14 billion, a price-to-earnings ratio of 21.58, a PEG ratio of 10.10 and a beta of 1.47. The company has a debt-to-equity ratio of 7.19, a current ratio of 1.28 and a quick ratio of 2.00. Simon Property Group, Inc. has a 1 year low of $136.34 and a 1 year high of $190.14.

Simon Property Group (NYSE:SPG) last issued its quarterly earnings data on Monday, May 12th. The real estate investment trust reported $2.95 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.91 by $0.04. The business had revenue of $1.47 billion during the quarter, compared to the consensus estimate of $1.34 billion. Simon Property Group had a net margin of 41.49% and a return on equity of 74.02%. The firm’s quarterly revenue was up 2.1% compared to the same quarter last year. During the same period in the prior year, the firm posted $3.56 EPS. As a group, equities research analysts predict that Simon Property Group, Inc. will post 12.54 EPS for the current fiscal year.

Simon Property Group Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, June 30th. Stockholders of record on Monday, June 9th will be issued a $2.10 dividend. This represents a $8.40 annualized dividend and a dividend yield of 5.36%. The ex-dividend date of this dividend is Monday, June 9th. Simon Property Group’s dividend payout ratio is presently 133.76%.

Analyst Ratings Changes

Several research firms have recently commented on SPG. JPMorgan Chase & Co. decreased their price objective on Simon Property Group from $192.00 to $180.00 and set a “neutral” rating for the company in a report on Thursday, May 22nd. Wall Street Zen lowered shares of Simon Property Group from a “buy” rating to a “hold” rating in a research note on Saturday, March 29th. Stifel Nicolaus raised their price objective on shares of Simon Property Group from $168.50 to $180.00 and gave the company a “buy” rating in a research note on Tuesday, May 13th. Scotiabank reduced their price objective on shares of Simon Property Group from $186.00 to $159.00 and set a “sector perform” rating for the company in a report on Wednesday, April 23rd. Finally, Piper Sandler decreased their target price on shares of Simon Property Group from $205.00 to $200.00 and set an “overweight” rating for the company in a research report on Friday, May 23rd. Six investment analysts have rated the stock with a hold rating and four have given a buy rating to the company. According to MarketBeat, Simon Property Group currently has a consensus rating of “Hold” and an average price target of $179.00.

About Simon Property Group

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.