WealthBridge Capital Management LLC Invests $517,000 in Simon Property Group, Inc. $SPG

WealthBridge Capital Management LLC bought a new position in shares of Simon Property Group, Inc. (NYSE:SPG) during the first quarter, Holdings Channel.com reports. The fund bought 2,773 shares of the real estate investment trust’s stock, valued at approximately $517,000.

Other hedge funds have also recently bought and sold shares of the company. Stance Capital LLC bought a new position in shares of Simon Property Group during the 3rd quarter worth about $26,000. Wilkerson Advisory Group LLC bought a new stake in shares of Simon Property Group in the fourth quarter valued at about $29,000. SHP Wealth Management bought a new stake in shares of Simon Property Group in the fourth quarter valued at about $34,000. Tompkins Financial Corp acquired a new stake in Simon Property Group during the fourth quarter worth about $42,000. Finally, Cullen Frost Bankers Inc. grew its position in Simon Property Group by 79.3% during the fourth quarter. Cullen Frost Bankers Inc. now owns 251 shares of the real estate investment trust’s stock worth $46,000 after buying an additional 111 shares in the last quarter. 93.01% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

Several brokerages recently issued reports on SPG. Morgan Stanley boosted their price target on Simon Property Group from $205.00 to $207.00 and gave the company an “equal weight” rating in a research note on Tuesday, June 9th. Stifel Nicolaus lifted their price objective on Simon Property Group from $185.00 to $194.00 and gave the stock a “hold” rating in a report on Tuesday, May 12th. Evercore set a $208.00 price objective on Simon Property Group in a research report on Monday, June 8th. Barclays upped their target price on Simon Property Group from $201.00 to $212.00 and gave the company an “equal weight” rating in a research note on Tuesday, May 19th. Finally, Weiss Ratings raised Simon Property Group from a “buy (b+)” rating to a “buy (a-)” rating in a research report on Monday, June 15th. One analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating and nine have issued a Hold rating to the company’s stock. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus target price of $209.64.

Simon Property Group Stock Up 1.1%

Shares of SPG opened at $216.86 on Wednesday. The company has a quick ratio of 0.84, a current ratio of 0.84 and a debt-to-equity ratio of 4.68. The company has a 50-day moving average price of $205.87 and a two-hundred day moving average price of $195.25. The stock has a market cap of $70.33 billion, a price-to-earnings ratio of 15.07, a P/E/G ratio of 3.88 and a beta of 1.31. Simon Property Group, Inc. has a 12 month low of $157.05 and a 12 month high of $220.43.

Simon Property Group (NYSE:SPG) last released its quarterly earnings data on Monday, May 11th. The real estate investment trust reported $1.48 earnings per share for the quarter, beating the consensus estimate of $1.46 by $0.02. The company had revenue of $1.76 billion for the quarter, compared to analyst estimates of $1.54 billion. Simon Property Group had a return on equity of 104.54% and a net margin of 70.60%.The company’s revenue was up 19.3% compared to the same quarter last year. During the same period in the prior year, the company posted $2.95 EPS. Simon Property Group has set its FY 2026 guidance at 13.100-13.250 EPS. Equities analysts predict that Simon Property Group, Inc. will post 13.21 EPS for the current fiscal year.

Simon Property Group Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, June 30th. Shareholders of record on Tuesday, June 9th will be issued a dividend of $2.25 per share. The ex-dividend date of this dividend is Tuesday, June 9th. This is a boost from Simon Property Group’s previous quarterly dividend of $2.20. This represents a $9.00 dividend on an annualized basis and a dividend yield of 4.2%. Simon Property Group’s dividend payout ratio (DPR) is 62.54%.

Simon Property Group Company Profile

Simon Property Group, Inc (NYSE: SPG) is a publicly traded real estate investment trust (REIT) that owns, develops and manages retail real estate properties. Its core business activities include acquisition, development, leasing and property management of regional malls, outlet centers and mixed?use retail destinations. The company operates retail brands that include high?profile regional shopping centers and the Premium Outlets platform, and it provides services such as tenant leasing, marketing, property operations and capital projects to optimize asset performance.

Simon’s portfolio spans a broad mix of enclosed malls, open?air centers, outlet properties and mixed?use developments, and the company pursues redevelopment and repositioning to adapt properties to changing consumer and retail trends.