Sagespring Wealth Partners LLC Takes Position in Simon Property Group, Inc. (NYSE:SPG)

Sagespring Wealth Partners LLC acquired a new stake in shares of Simon Property Group, Inc. (NYSE:SPG - Free Report) during the fourth quarter, according to its most recent filing with the SEC. The fund acquired 2,504 shares of the real estate investment trust's stock, valued at approximately $431,000.

Several other large investors have also recently bought and sold shares of SPG. Morse Asset Management Inc purchased a new position in shares of Simon Property Group in the third quarter worth about $155,000. SkyView Investment Advisors LLC lifted its stake in shares of Simon Property Group by 4.3% in the third quarter. SkyView Investment Advisors LLC now owns 3,803 shares of the real estate investment trust's stock worth $643,000 after buying an additional 158 shares in the last quarter. World Investment Advisors LLC increased its holdings in Simon Property Group by 17.3% in the 3rd quarter. World Investment Advisors LLC now owns 3,534 shares of the real estate investment trust's stock worth $597,000 after buying an additional 521 shares in the last quarter. Wilmington Savings Fund Society FSB purchased a new stake in Simon Property Group during the 3rd quarter valued at $834,000. Finally, Blankinship & Foster LLC bought a new position in shares of Simon Property Group in the 3rd quarter worth approximately $608,000. 93.01% of the stock is owned by institutional investors.

Simon Property Group Stock Performance

Shares of NYSE SPG traded up $2.26 during midday trading on Friday, reaching $150.31. 1,267,314 shares of the company were exchanged, compared to its average volume of 1,503,931. The stock has a market cap of $49.04 billion, a P/E ratio of 20.70, a PEG ratio of 10.10 and a beta of 1.45. The company has a current ratio of 1.28, a quick ratio of 2.00 and a debt-to-equity ratio of 7.19. The stock has a fifty day simple moving average of $166.96 and a 200 day simple moving average of $172.57. 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 - Get Free Report) last released its earnings results on Tuesday, February 4th. The real estate investment trust reported $3.68 EPS for the quarter, beating analysts' consensus estimates of $1.98 by $1.70. Simon Property Group had a return on equity of 74.02% and a net margin of 41.49%. On average, research analysts forecast that Simon Property Group, Inc. will post 12.54 earnings per share for the current fiscal year.

Simon Property Group Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Monday, March 31st. Stockholders of record on Monday, March 10th were paid a dividend of $2.10 per share. This represents a $8.40 annualized dividend and a dividend yield of 5.59%. The ex-dividend date of this dividend was Monday, March 10th. Simon Property Group's dividend payout ratio (DPR) is presently 115.70%.

Wall Street Analysts Forecast Growth

Several analysts recently issued reports on SPG shares. Piper Sandler upgraded Simon Property Group from a "neutral" rating to an "overweight" rating and increased their target price for the stock from $175.00 to $205.00 in a research report on Wednesday, February 5th. StockNews.com cut shares of Simon Property Group from a "buy" rating to a "hold" rating in a report on Saturday, March 29th. Jefferies Financial Group upgraded Simon Property Group from a "hold" rating to a "buy" rating and lifted their price target for the company from $179.00 to $198.00 in a report on Thursday, January 2nd. Stifel Nicolaus upgraded Simon Property Group from a "hold" rating to a "buy" rating and set a $168.50 price target for the company in a research note on Wednesday, April 9th. Finally, Scotiabank set a $186.00 price target on shares of Simon Property Group in a report on Friday, February 28th. Five research analysts have rated the stock with a hold rating and five have given a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and a consensus price target of $181.39.

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.