Resurgent Financial Advisors LLC Buys New Position in Simon Property Group, Inc. (NYSE:SPG)

Resurgent Financial Advisors LLC acquired a new position in shares of Simon Property Group, Inc. (NYSE:SPG - Free Report) during the 4th quarter, according to its most recent Form 13F filing with the SEC. The firm acquired 2,377 shares of the real estate investment trust's stock, valued at approximately $409,000.

Other institutional investors have also recently added to or reduced their stakes in the company. Norges Bank purchased a new position in Simon Property Group during the 4th quarter worth $2,059,505,000. Hamlin Capital Management LLC acquired a new position in Simon Property Group during the fourth quarter worth $109,403,000. KBC Group NV raised its stake in shares of Simon Property Group by 170.3% during the 4th quarter. KBC Group NV now owns 880,309 shares of the real estate investment trust's stock worth $151,597,000 after buying an additional 554,605 shares during the last quarter. Invesco Ltd. grew its position in shares of 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 valued at $726,136,000 after purchasing an additional 542,511 shares during the last quarter. Finally, Proficio Capital Partners LLC grew its position in shares of Simon Property Group by 22,608.6% in the fourth quarter. Proficio Capital Partners LLC now owns 542,281 shares of the real estate investment trust's stock valued at $93,386,000 after purchasing an additional 539,893 shares during the last quarter. Institutional investors and hedge funds own 93.01% of the company's stock.

Simon Property Group Trading Up 1.5 %

Simon Property Group stock traded up $2.26 during trading on Friday, reaching $150.31. The company had a trading volume of 1,267,314 shares, compared to its average volume of 1,503,931. Simon Property Group, Inc. has a 12-month low of $136.34 and a 12-month high of $190.14. The company has a debt-to-equity ratio of 7.19, a quick ratio of 2.00 and a current ratio of 1.28. The stock's 50 day moving average price is $166.96 and its two-hundred day moving average price is $172.57. The firm has a market capitalization of $49.04 billion, a price-to-earnings ratio of 20.70, a PEG ratio of 10.10 and a beta of 1.45.

Simon Property Group (NYSE:SPG - Get Free Report) last announced its quarterly earnings data on Tuesday, February 4th. The real estate investment trust reported $3.68 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.98 by $1.70. Simon Property Group had a net margin of 41.49% and a return on equity of 74.02%. As a group, equities analysts expect 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 disclosed a quarterly dividend, which was paid on Monday, March 31st. Stockholders of record on Monday, March 10th were issued a $2.10 dividend. The ex-dividend date was Monday, March 10th. This represents a $8.40 dividend on an annualized basis and a dividend yield of 5.59%. Simon Property Group's dividend payout ratio (DPR) is 115.70%.

Wall Street Analysts Forecast Growth

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

Simon Property Group Company 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.