Pathway Financial Advisers LLC Invests $29,000 in Simon Property Group, Inc. (NYSE:SPG)

Pathway Financial Advisers LLC bought a new stake in shares of Simon Property Group, Inc. (NYSE:SPG) during the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund bought 182 shares of the real estate investment trust’s stock, valued at approximately $29,000.

Several other institutional investors have also bought and sold shares of SPG. Vanguard Group Inc. grew its stake in shares of Simon Property Group by 1.5% in the 1st quarter. Vanguard Group Inc. now owns 46,380,446 shares of the real estate investment trust’s stock worth $7,258,076,000 after acquiring an additional 672,941 shares in the last quarter. Norges Bank bought a new stake in Simon Property Group in the 4th quarter worth about $2,561,181,000. Charles Schwab Investment Management Inc. increased its stake in Simon Property Group by 2.1% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 3,537,655 shares of the real estate investment trust’s stock valued at $504,611,000 after buying an additional 72,645 shares during the last quarter. Boston Partners increased its stake in Simon Property Group by 4.2% in the 1st quarter. Boston Partners now owns 2,321,228 shares of the real estate investment trust’s stock valued at $363,165,000 after buying an additional 92,648 shares during the last quarter. Finally, Centersquare Investment Management LLC lifted its position in shares of Simon Property Group by 4.5% during the 1st quarter. Centersquare Investment Management LLC now owns 1,814,206 shares of the real estate investment trust’s stock worth $283,905,000 after buying an additional 78,866 shares in the last quarter. Institutional investors own 93.01% of the company’s stock.

Simon Property Group Stock Performance

NYSE SPG traded down $2.37 during trading on Friday, hitting $151.07. 1,433,105 shares of the company’s stock traded hands, compared to its average volume of 1,271,478. The company has a debt-to-equity ratio of 7.20, a quick ratio of 2.19 and a current ratio of 2.19. The stock has a market capitalization of $49.24 billion, a price-to-earnings ratio of 19.24, a PEG ratio of 8.92 and a beta of 1.75. Simon Property Group, Inc. has a 12-month low of $102.11 and a 12-month high of $158.50. The business has a 50 day moving average of $150.32 and a 200-day moving average of $148.04.

Simon Property Group (NYSE:SPG) last issued its quarterly earnings data on Monday, May 6th. The real estate investment trust reported $2.25 earnings per share (EPS) 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 company had revenue of $1.44 billion for the quarter, compared to analysts’ expectations of $1.31 billion. During the same period last year, the company posted $2.74 EPS. The business’s revenue for the quarter was up 6.8% on a year-over-year basis. As a group, equities research analysts anticipate that Simon Property Group, Inc. will post 12.84 earnings per share for the current fiscal year.

Simon Property Group Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, June 28th. Shareholders of record on Friday, June 7th were paid a $2.00 dividend. The ex-dividend date was Friday, June 7th. This is a boost from Simon Property Group’s previous quarterly dividend of $1.95. This represents a $8.00 annualized dividend and a yield of 5.30%. Simon Property Group’s dividend payout ratio is currently 101.91%.

Insider Buying and Selling

In other Simon Property Group news, Director Reuben S. Leibowitz bought 486 shares of the firm’s stock in a transaction on Friday, June 28th. The shares were acquired at an average cost of $150.17 per share, for a total transaction of $72,982.62. Following the purchase, the director now directly owns 55,001 shares of the company’s stock, valued at $8,259,500.17. The acquisition was disclosed in a filing with the SEC, which is available through this hyperlink. 8.50% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

SPG has been the topic of a number of recent analyst reports. Argus lifted their price target on Simon Property Group from $157.00 to $168.00 and gave the stock a “buy” rating in a report on Tuesday, June 11th. StockNews.com upgraded Simon Property Group from a “hold” rating to a “buy” rating in a research note on Thursday, April 18th. Finally, Scotiabank increased their price target on shares of Simon Property Group from $142.00 to $152.00 and gave the company a “sector perform” rating in a research report on Thursday, May 16th. Five equities research analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. According to data from MarketBeat, Simon Property Group has a consensus rating of “Moderate Buy” and an average price target of $149.89.

Simon Property Group Company Profile

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.