Regal Investment Advisors LLC Buys 213 Shares of Simon Property Group, Inc. (NYSE:SPG)

Regal Investment Advisors LLC raised its stake in shares of Simon Property Group, Inc. (NYSE:SPG) by 3.7% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 6,033 shares of the real estate investment trust’s stock after purchasing an additional 213 shares during the quarter. Regal Investment Advisors LLC’s holdings in Simon Property Group were worth $1,039,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds have also bought and sold shares of the company. Hopwood Financial Services Inc. purchased a new position in Simon Property Group in the fourth quarter worth $28,000. WR Wealth Planners LLC lifted its stake in Simon Property Group by 328.2% during the fourth quarter. WR Wealth Planners LLC now owns 167 shares of the real estate investment trust’s stock worth $29,000 after purchasing an additional 128 shares during the last quarter. New England Capital Financial Advisors LLC purchased a new position in shares of Simon Property Group in the 4th quarter worth about $30,000. Caisse Des Depots ET Consignations bought a new position in shares of Simon Property Group during the 4th quarter valued at about $31,000. Finally, TCTC Holdings LLC purchased a new position in shares of Simon Property Group during the 4th quarter valued at about $34,000. 93.01% of the stock is currently owned by institutional investors.

Simon Property Group Stock Down 0.3 %

Shares of NYSE:SPG opened at $149.35 on Wednesday. The stock’s 50-day moving average is $168.88 and its 200 day moving average is $173.01. The company has a market cap of $48.73 billion, a PE ratio of 20.57, a P/E/G ratio of 10.10 and a beta of 1.45. 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 announced 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%. Sell-side analysts anticipate that Simon Property Group, Inc. will post 12.54 EPS for the current year.

Simon Property Group Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, March 31st. Investors of record on Monday, March 10th were paid a $2.10 dividend. This represents a $8.40 dividend on an annualized basis and a yield of 5.62%. The ex-dividend date of this dividend was Monday, March 10th. Simon Property Group’s payout ratio is currently 115.70%.

Analysts Set New Price Targets

SPG has been the subject of several research reports. StockNews.com lowered Simon Property Group from a “buy” rating to a “hold” rating in a research note on Saturday, March 29th. Stifel Nicolaus raised shares of Simon Property Group from a “hold” rating to a “buy” rating and set a $168.50 target price on the stock in a report on Wednesday, April 9th. Scotiabank set a $186.00 price target on shares of Simon Property Group in a research note on Friday, February 28th. Jefferies Financial Group raised Simon Property Group from a “hold” rating to a “buy” rating and raised their price objective for the company from $179.00 to $198.00 in a research note on Thursday, January 2nd. Finally, Piper Sandler raised Simon Property Group from a “neutral” rating to an “overweight” rating and boosted their target price for the company from $175.00 to $205.00 in a research note on Wednesday, February 5th. Five investment analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. Based on data from MarketBeat, 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.