Simon Property Group, Inc. (NYSE:SPG) Holdings Lifted by Gilman Hill Asset Management LLC

Gilman Hill Asset Management LLC boosted its holdings in shares of Simon Property Group, Inc. (NYSE:SPG) by 10.4% during the 1st quarter, Holdings Channel reports. The institutional investor owned 5,026 shares of the real estate investment trust’s stock after buying an additional 475 shares during the period. Gilman Hill Asset Management LLC’s holdings in Simon Property Group were worth $787,000 as of its most recent SEC filing.

Other hedge funds have also recently bought and sold shares of the company. LPL Financial LLC boosted its holdings in shares of Simon Property Group by 16.6% during the third quarter. LPL Financial LLC now owns 360,116 shares of the real estate investment trust’s stock worth $38,903,000 after purchasing an additional 51,380 shares during the period. Mariner LLC boosted its stake in shares of Simon Property Group by 9.3% during the 3rd quarter. Mariner LLC now owns 44,588 shares of the real estate investment trust’s stock valued at $4,817,000 after buying an additional 3,803 shares during the period. Federated Hermes Inc. grew its holdings in shares of Simon Property Group by 45.6% during the 3rd quarter. Federated Hermes Inc. now owns 16,433 shares of the real estate investment trust’s stock valued at $1,775,000 after acquiring an additional 5,150 shares in the last quarter. Connor Clark & Lunn Investment Management Ltd. purchased a new stake in shares of Simon Property Group during the third quarter worth $972,000. Finally, Natixis Advisors L.P. boosted its position in Simon Property Group by 28.2% during the third quarter. Natixis Advisors L.P. now owns 154,986 shares of the real estate investment trust’s stock valued at $16,744,000 after purchasing an additional 34,138 shares during the last quarter. 93.01% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several research analysts have weighed in on SPG shares. Scotiabank upped their target price on 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. StockNews.com raised Simon Property Group from a “hold” rating to a “buy” rating in a research note on Thursday, April 18th. Evercore ISI raised their price objective on shares of Simon Property Group from $142.00 to $150.00 and gave the company an “in-line” rating in a research report on Wednesday, February 28th. Truist Financial lifted their target price on shares of Simon Property Group from $139.00 to $147.00 and gave the company a “hold” rating in a research note on Friday, March 22nd. Finally, Argus increased their price target on shares of Simon Property Group from $157.00 to $168.00 and gave the stock a “buy” rating in a research note on Tuesday, June 11th. Five analysts have rated the stock with a hold rating and six have issued a buy rating to the company. According to MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $147.60.

Simon Property Group Price Performance

Shares of Simon Property Group stock opened at $147.87 on Wednesday. The company has a current ratio of 2.19, a quick ratio of 2.19 and a debt-to-equity ratio of 7.20. The firm has a fifty day simple moving average of $147.08 and a 200-day simple moving average of $146.48. The stock has a market capitalization of $48.20 billion, a price-to-earnings ratio of 18.84, a PEG ratio of 8.94 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:SPG) last released its earnings results on Monday, May 6th. The real estate investment trust reported $2.25 earnings per share for the quarter, missing analysts’ consensus estimates 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 for the quarter, compared to analyst estimates of $1.31 billion. During the same period in the prior year, the firm earned $2.74 EPS. The firm’s revenue was up 6.8% on a year-over-year basis. On average, sell-side analysts expect that Simon Property Group, Inc. will post 12.84 earnings per share for the current year.

Simon Property Group Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, June 28th. Shareholders of record on Friday, June 7th will be issued a $2.00 dividend. The ex-dividend date of this dividend is Friday, June 7th. This represents a $8.00 dividend on an annualized basis and a yield of 5.41%. This is a positive change from Simon Property Group’s previous quarterly dividend of $1.95. Simon Property Group’s dividend payout ratio (DPR) is 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.