SteelPeak Wealth LLC boosted its stake in shares of Simon Property Group, Inc. (NYSE:SPG – Free Report) by 1.5% in the 3rd quarter, HoldingsChannel reports. The fund owned 7,707 shares of the real estate investment trust’s stock after buying an additional 117 shares during the quarter. SteelPeak Wealth LLC’s holdings in Simon Property Group were worth $1,303,000 at the end of the most recent quarter.
Several other institutional investors and hedge funds have also bought and sold shares of the stock. Inspire Advisors LLC grew its holdings in shares of Simon Property Group by 1.6% in the third quarter. Inspire Advisors LLC now owns 4,118 shares of the real estate investment trust’s stock worth $696,000 after purchasing an additional 65 shares during the last quarter. Diligent Investors LLC grew its holdings in Simon Property Group by 0.5% in the 2nd quarter. Diligent Investors LLC now owns 13,740 shares of the real estate investment trust’s stock worth $2,086,000 after acquiring an additional 68 shares during the last quarter. Augustine Asset Management Inc. increased its position in shares of Simon Property Group by 3.8% in the second quarter. Augustine Asset Management Inc. now owns 1,859 shares of the real estate investment trust’s stock valued at $282,000 after acquiring an additional 68 shares during the period. Bleakley Financial Group LLC increased its position in shares of Simon Property Group by 1.1% in the third quarter. Bleakley Financial Group LLC now owns 6,175 shares of the real estate investment trust’s stock valued at $1,044,000 after acquiring an additional 68 shares during the period. Finally, TIAA Trust National Association raised its stake in shares of Simon Property Group by 3.7% during the first quarter. TIAA Trust National Association now owns 1,913 shares of the real estate investment trust’s stock valued at $299,000 after acquiring an additional 69 shares during the last quarter. 93.01% of the stock is currently owned by institutional investors.
Analyst Ratings Changes
Several analysts recently issued reports on the company. Scotiabank raised their target price on Simon Property Group from $152.00 to $169.00 and gave the stock a “sector perform” rating in a research note on Monday, August 26th. Truist Financial boosted their target price on Simon Property Group from $147.00 to $158.00 and gave the company a “hold” rating in a research note on Wednesday, August 28th. Piper Sandler reaffirmed a “neutral” rating and issued a $175.00 price target (down previously from $190.00) on shares of Simon Property Group in a research note on Tuesday, September 3rd. StockNews.com downgraded shares of Simon Property Group from a “buy” rating to a “hold” rating in a research report on Thursday, October 10th. Finally, Evercore ISI raised shares of Simon Property Group from an “in-line” rating to an “outperform” rating and raised their target price for the stock from $160.00 to $172.00 in a research report on Monday, September 16th. Seven research analysts have rated the stock with a hold rating and three have issued a buy rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus target price of $162.78.
Insider Transactions at Simon Property Group
In other news, Director Allan B. Hubbard purchased 370 shares of Simon Property Group stock in a transaction that occurred on Monday, September 30th. The stock was bought at an average price of $167.30 per share, with a total value of $61,901.00. Following the completion of the transaction, the director now directly owns 34,301 shares of the company’s stock, valued at approximately $5,738,557.30. The trade was a 0.00 % increase in their ownership of the stock. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders own 8.50% of the company’s stock.
Simon Property Group Stock Up 0.1 %
Shares of NYSE:SPG opened at $172.18 on Thursday. The company has a current ratio of 2.04, a quick ratio of 2.04 and a debt-to-equity ratio of 7.53. The stock has a fifty day simple moving average of $168.39 and a two-hundred day simple moving average of $156.01. Simon Property Group, Inc. has a 12-month low of $104.93 and a 12-month high of $177.08. The stock has a market capitalization of $56.12 billion, a price-to-earnings ratio of 21.93, a PEG ratio of 9.35 and a beta of 1.74.
Simon Property Group (NYSE:SPG – Get Free Report) last posted its quarterly earnings results on Monday, August 5th. The real estate investment trust reported $1.51 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.93 by ($1.42). The company had revenue of $1.32 billion during the quarter, compared to analysts’ expectations of $1.30 billion. Simon Property Group had a return on equity of 78.14% and a net margin of 45.90%. Simon Property Group’s revenue for the quarter was up 4.8% compared to the same quarter last year. During the same period in the prior year, the firm earned $2.88 EPS. On average, research analysts anticipate that Simon Property Group, Inc. will post 12.85 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 Monday, September 30th. Shareholders of record on Monday, September 9th were issued a $2.05 dividend. The ex-dividend date of this dividend was Monday, September 9th. This is a boost from Simon Property Group’s previous quarterly dividend of $2.00. This represents a $8.20 annualized dividend and a yield of 4.76%. Simon Property Group’s payout ratio is 104.46%.
Simon Property Group Profile
Simon Property Group, Inc (NYSE:SPG) is a self-administered and self-managed real estate investment trust (REIT). Simon Property Group, L.P., or the Operating Partnership, is our majority-owned partnership subsidiary that owns all of our real estate properties and other assets. In this package, the terms Simon, we, our, or the Company refer to Simon Property Group, Inc, the Operating Partnership, and its subsidiaries.
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