Janney Montgomery Scott LLC Has $6.24 Million Position in Simon Property Group, Inc. (NYSE:SPG)

Posted by Defense World Staff on Jul 23rd, 2023

Janney Montgomery Scott LLC grew its holdings in Simon Property Group, Inc. (NYSE:SPG – Free Report) by 8.0% during the 1st quarter, according to the company in its most recent disclosure with the SEC. The fund owned 55,749 shares of the real estate investment trust’s stock after purchasing an additional 4,119 shares during the quarter. Janney Montgomery Scott LLC’s holdings in Simon Property Group were worth $6,242,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors also recently made changes to their positions in the business. Integrated Advisors Network LLC lifted its position in Simon Property Group by 0.5% in the 4th quarter. Integrated Advisors Network LLC now owns 19,263 shares of the real estate investment trust’s stock valued at $2,263,000 after acquiring an additional 88 shares in the last quarter. Peak Asset Management LLC lifted its position in Simon Property Group by 0.6% in the 4th quarter. Peak Asset Management LLC now owns 16,066 shares of the real estate investment trust’s stock valued at $1,887,000 after acquiring an additional 89 shares in the last quarter. Mitchell Capital Management Co. lifted its position in Simon Property Group by 0.4% in the 4th quarter. Mitchell Capital Management Co. now owns 24,412 shares of the real estate investment trust’s stock valued at $2,868,000 after acquiring an additional 91 shares in the last quarter. My Legacy Advisors LLC lifted its position in Simon Property Group by 5.2% in the 1st quarter. My Legacy Advisors LLC now owns 1,830 shares of the real estate investment trust’s stock valued at $201,000 after acquiring an additional 91 shares in the last quarter. Finally, Sequoia Financial Advisors LLC lifted its position in Simon Property Group by 3.6% in the 1st quarter. Sequoia Financial Advisors LLC now owns 2,611 shares of the real estate investment trust’s stock valued at $292,000 after acquiring an additional 91 shares in the last quarter. 85.58% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several equities research analysts have commented on the stock. StockNews.com assumed coverage on shares of Simon Property Group in a research report on Thursday, May 18th. They set a “hold” rating on the stock. Stifel Nicolaus boosted their price target on shares of Simon Property Group from $130.00 to $139.00 in a research report on Wednesday, July 12th. Wolfe Research raised shares of Simon Property Group from a “peer perform” rating to an “outperform” rating and set a $127.00 price target on the stock in a research report on Wednesday, July 5th. Finally, Mizuho cut their price target on shares of Simon Property Group from $116.00 to $106.00 in a research report on Friday, May 26th. Four analysts have rated the stock with a hold rating and six have issued a buy rating to the company. According to MarketBeat, Simon Property Group has a consensus rating of “Moderate Buy” and a consensus target price of $128.00.

Simon Property Group Stock Down 0.1 %

Simon Property Group stock opened at $123.65 on Friday. The firm has a market capitalization of $40.43 billion, a PE ratio of 18.73, a P/E/G ratio of 2.95 and a beta of 1.52. The company’s 50-day moving average is $112.02 and its 200-day moving average is $114.87. Simon Property Group, Inc. has a fifty-two week low of $86.02 and a fifty-two week high of $133.08. The company has a debt-to-equity ratio of 7.50, a current ratio of 1.43 and a quick ratio of 1.43.

Simon Property Group Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, June 30th. Investors of record on Friday, June 9th were paid a $1.85 dividend. The ex-dividend date was Thursday, June 8th. This represents a $7.40 dividend on an annualized basis and a yield of 5.98%. This is a positive change from Simon Property Group’s previous quarterly dividend of $1.80. Simon Property Group’s dividend payout ratio is 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.