Embree Financial Group Has $487,000 Stock Holdings in Simon Property Group, Inc. (NYSE:SPG)

Embree Financial Group increased its holdings in shares of Simon Property Group, Inc. (NYSE:SPG) by 4.7% during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 3,114 shares of the real estate investment trust’s stock after buying an additional 141 shares during the period. Embree Financial Group’s holdings in Simon Property Group were worth $487,000 at the end of the most recent quarter.

Other hedge funds have also added to or reduced their stakes in the company. Norges Bank bought a new position in Simon Property Group during the 4th quarter worth approximately $2,561,181,000. International Assets Investment Management LLC increased its stake in shares of Simon Property Group by 13,226.4% in the 4th quarter. International Assets Investment Management LLC now owns 920,586 shares of the real estate investment trust’s stock valued at $131,312,000 after acquiring an additional 913,678 shares in the last quarter. Panagora Asset Management Inc. increased its stake in shares of Simon Property Group by 11,722.9% in the 4th quarter. Panagora Asset Management Inc. now owns 672,724 shares of the real estate investment trust’s stock valued at $95,957,000 after acquiring an additional 667,034 shares in the last quarter. Duff & Phelps Investment Management Co. increased its stake in shares of Simon Property Group by 160.1% in the 4th quarter. Duff & Phelps Investment Management Co. now owns 763,371 shares of the real estate investment trust’s stock valued at $108,887,000 after acquiring an additional 469,855 shares in the last quarter. Finally, American Century Companies Inc. increased its stake in shares of Simon Property Group by 65.3% in the 3rd quarter. American Century Companies Inc. now owns 854,191 shares of the real estate investment trust’s stock valued at $92,278,000 after acquiring an additional 337,430 shares in the last quarter. 93.01% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

SPG has been the subject of a number of recent research reports. Argus boosted their price target on shares of Simon Property Group from $157.00 to $168.00 and gave the company a “buy” rating in a research note on Tuesday, June 11th. StockNews.com raised shares of Simon Property Group from a “hold” rating to a “buy” rating in a report on Thursday, April 18th. Truist Financial upped their price target on Simon Property Group from $139.00 to $147.00 and gave the company a “hold” rating in a research report on Friday, March 22nd. Finally, Scotiabank upped their price target on 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 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, Simon Property Group currently has a consensus rating of “Moderate Buy” and an average price target of $149.89.

Insider Buying and Selling

In other news, Director Reuben S. Leibowitz bought 486 shares of the business’s stock in a transaction on Friday, June 28th. The stock was acquired at an average price of $150.17 per share, with a total value of $72,982.62. Following the completion of the purchase, the director now directly owns 55,001 shares in the company, valued at $8,259,500.17. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. 8.60% of the stock is owned by company insiders.

Simon Property Group Price Performance

Shares of SPG stock traded up $0.90 during trading on Wednesday, hitting $148.47. The company had a trading volume of 719,838 shares, compared to its average volume of 1,481,671. The company has a quick ratio of 2.19, a current ratio of 2.19 and a debt-to-equity ratio of 7.20. The stock’s 50-day moving average is $148.43 and its two-hundred day moving average is $146.94. The stock has a market capitalization of $48.39 billion, a price-to-earnings ratio of 18.91, a price-to-earnings-growth ratio of 8.73 and a beta of 1.75. Simon Property Group, Inc. has a 52 week low of $102.11 and a 52 week high of $157.82.

Simon Property Group (NYSE:SPG) last posted its quarterly earnings data on Monday, May 6th. The real estate investment trust reported $2.25 earnings per share for the quarter, missing the consensus estimate of $2.80 by ($0.55). The company had revenue of $1.44 billion during the quarter, compared to the consensus estimate of $1.31 billion. Simon Property Group had a return on equity of 78.50% and a net margin of 46.49%. The firm’s revenue for the quarter was up 6.8% on a year-over-year basis. During the same quarter last year, the company posted $2.74 earnings per share. As a group, analysts predict that Simon Property Group, Inc. will post 12.84 EPS for the current fiscal year.

Simon Property Group Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, June 28th. Investors of record on Friday, June 7th were given a $2.00 dividend. This represents a $8.00 annualized dividend and a dividend yield of 5.39%. This is a boost from Simon Property Group’s previous quarterly dividend of $1.95. The ex-dividend date was Friday, June 7th. Simon Property Group’s dividend payout ratio is 101.91%.

Simon Property Group 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.