Carnegie Capital Asset Management LLC Buys 206 Shares of Simon Property Group, Inc. (NYSE:SPG)

Carnegie Capital Asset Management LLC lifted its stake in Simon Property Group, Inc. (NYSE:SPG – Free Report) by 11.1% in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 2,070 shares of the real estate investment trust’s stock after buying an additional 206 shares during the period. Carnegie Capital Asset Management LLC’s holdings in Simon Property Group were worth $232,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors have also made changes to their positions in the stock. Capital Advisors Inc. OK boosted its stake in shares of Simon Property Group by 2.6% in the first quarter. Capital Advisors Inc. OK now owns 251,181 shares of the real estate investment trust’s stock valued at $28,125,000 after buying an additional 6,329 shares during the period. Alpha Omega Wealth Management LLC boosted its stake in shares of Simon Property Group by 2.4% in the first quarter. Alpha Omega Wealth Management LLC now owns 50,274 shares of the real estate investment trust’s stock valued at $5,629,000 after buying an additional 1,164 shares during the period. Louisiana State Employees Retirement System raised its position in Simon Property Group by 0.9% during the first quarter. Louisiana State Employees Retirement System now owns 21,300 shares of the real estate investment trust’s stock valued at $2,385,000 after purchasing an additional 200 shares in the last quarter. Proficio Capital Partners LLC raised its position in Simon Property Group by 10,953.8% during the first quarter. Proficio Capital Partners LLC now owns 286,403 shares of the real estate investment trust’s stock valued at $286,000 after purchasing an additional 283,812 shares in the last quarter. Finally, CENTRAL TRUST Co raised its position in Simon Property Group by 14.8% during the first quarter. CENTRAL TRUST Co now owns 1,355 shares of the real estate investment trust’s stock valued at $152,000 after purchasing an additional 175 shares in the last quarter. 85.58% of the stock is currently owned by institutional investors.

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Analyst Upgrades and Downgrades

SPG has been the subject of several research analyst reports. StockNews.com initiated coverage on shares of Simon Property Group in a research report on Thursday, May 18th. They set a “hold” rating for the company. Stifel Nicolaus lowered their price objective on shares of Simon Property Group from $135.00 to $129.50 in a research report on Wednesday, May 3rd. The Goldman Sachs Group initiated coverage on shares of Simon Property Group in a research report on Tuesday, March 21st. They set a “buy” rating and a $150.00 price objective for the company. Finally, Mizuho lowered their price objective on shares of Simon Property Group from $116.00 to $106.00 in a research report on Friday, May 26th. Five investment analysts have rated the stock with a hold rating and five have issued a buy rating to the company’s stock. Based on data from MarketBeat, Simon Property Group currently has a consensus rating of “Moderate Buy” and a consensus price target of $127.15.

Simon Property Group Stock Up 1.4 %

Shares of NYSE:SPG opened at $117.04 on Wednesday. The firm has a market cap of $38.27 billion, a P/E ratio of 17.73, a P/E/G ratio of 2.85 and a beta of 1.52. The company has a quick ratio of 1.43, a current ratio of 1.43 and a debt-to-equity ratio of 7.50. Simon Property Group, Inc. has a 12-month low of $86.02 and a 12-month high of $133.08. The business has a fifty day simple moving average of $108.76 and a 200 day simple moving average of $114.44.

Simon Property Group Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, June 30th. Investors of record on Friday, June 9th were given a dividend of $1.85 per share. This is a positive change from Simon Property Group’s previous quarterly dividend of $1.80. This represents a $7.40 annualized dividend and a yield of 6.32%. The ex-dividend date was Thursday, June 8th. Simon Property Group’s dividend payout ratio (DPR) is currently 112.12%.

About Simon Property Group

(Free Report)

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.

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