LRI Investments LLC Invests $331,000 in Simon Property Group, Inc. (NYSE:SPG)

LRI Investments LLC acquired a new stake in Simon Property Group, Inc. (NYSE:SPG) in the 1st quarter, according to its most recent filing with the SEC. The fund acquired 2,252 shares of the real estate investment trust’s stock, valued at approximately $331,000.

Other institutional investors have also recently bought and sold shares of the company. Clearstead Trust LLC bought a new stake in Simon Property Group in the 1st quarter valued at approximately $25,000. EntryPoint Capital LLC bought a new stake in Simon Property Group in the 1st quarter valued at approximately $26,000. Cape Investment Advisory Inc. lifted its stake in Simon Property Group by 3,200.0% in the 4th quarter. Cape Investment Advisory Inc. now owns 198 shares of the real estate investment trust’s stock valued at $28,000 after acquiring an additional 192 shares in the last quarter. Hillsdale Investment Management Inc. bought a new stake in Simon Property Group in the 1st quarter valued at approximately $33,000. Finally, BOK Financial Private Wealth Inc. bought a new stake in Simon Property Group in the 4th quarter valued at approximately $34,000. Institutional investors own 93.01% of the company’s stock.

Simon Property Group Stock Performance

NYSE SPG traded up $3.14 on Friday, reaching $152.45. The stock had a trading volume of 1,032,436 shares, compared to its average volume of 1,326,743. The company has a market cap of $49.69 billion, a P/E ratio of 19.42, a price-to-earnings-growth ratio of 8.68 and a beta of 1.75. Simon Property Group, Inc. has a 1-year low of $102.11 and a 1-year high of $158.50. The company has a debt-to-equity ratio of 7.20, a current ratio of 2.19 and a quick ratio of 2.19. The firm has a fifty day moving average of $149.67 and a two-hundred day moving average of $147.78.

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 (EPS) for the quarter, missing the consensus estimate of $2.80 by ($0.55). The company had revenue of $1.44 billion for the quarter, compared to analyst estimates of $1.31 billion. Simon Property Group had a return on equity of 78.50% and a net margin of 46.49%. The business’s revenue for the quarter was up 6.8% compared to the same quarter last year. During the same period last year, the company posted $2.74 earnings per share. On average, equities research analysts anticipate that Simon Property Group, Inc. will post 12.84 EPS for the current year.

Simon Property Group Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, June 28th. Stockholders of record on Friday, June 7th were issued a dividend of $2.00 per share. This is a positive change from Simon Property Group’s previous quarterly dividend of $1.95. This represents a $8.00 annualized dividend and a dividend yield of 5.25%. The ex-dividend date was Friday, June 7th. Simon Property Group’s dividend payout ratio is 101.91%.

Insider Transactions at Simon Property Group

In related news, Director Reuben S. Leibowitz bought 486 shares of Simon Property Group stock in a transaction dated Friday, June 28th. The shares were bought at an average cost of $150.17 per share, with a total value of $72,982.62. Following the acquisition, the director now owns 55,001 shares in the company, valued at approximately $8,259,500.17. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. 8.50% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

Several equities research analysts have commented on the company. Scotiabank boosted their target price on Simon Property Group from $142.00 to $152.00 and gave the company a “sector perform” rating in a research note on Thursday, May 16th. StockNews.com upgraded Simon Property Group from a “hold” rating to a “buy” rating in a research note on Thursday, April 18th. Finally, Argus boosted their target price on Simon Property Group from $157.00 to $168.00 and gave the stock a “buy” rating in a report on Tuesday, June 11th. Five equities research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $149.89.

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.