Catalytic Wealth RIA LLC Purchases 830 Shares of Simon Property Group, Inc. (NYSE:SPG)

Catalytic Wealth RIA LLC lifted its position in shares of Simon Property Group, Inc. (NYSE:SPG) by 15.4% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 6,210 shares of the real estate investment trust’s stock after purchasing an additional 830 shares during the period. Catalytic Wealth RIA LLC’s holdings in Simon Property Group were worth $1,050,000 at the end of the most recent quarter.

Other large investors also recently made changes to their positions in the company. Clearstead Trust LLC bought a new position in shares of Simon Property Group during the first quarter valued at about $25,000. EntryPoint Capital LLC purchased a new stake in Simon Property Group during the first quarter worth about $26,000. Opal Wealth Advisors LLC purchased a new stake in Simon Property Group during the second quarter worth about $25,000. Wetzel Investment Advisors Inc. purchased a new stake in Simon Property Group during the second quarter worth about $27,000. Finally, Capital Performance Advisors LLP purchased a new position in shares of Simon Property Group in the third quarter worth about $30,000. 93.01% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

Several equities analysts have recently weighed in on SPG shares. Piper Sandler reiterated a “neutral” rating and issued a $175.00 target price (down previously from $190.00) on shares of Simon Property Group in a research note on Tuesday, September 3rd. StockNews.com lowered shares of Simon Property Group from a “buy” rating to a “hold” rating in a research report on Thursday, October 10th. Scotiabank raised their price objective on shares of Simon Property Group from $152.00 to $169.00 and gave the company a “sector perform” rating in a research report on Monday, August 26th. Mizuho lifted their target price on shares of Simon Property Group from $155.00 to $158.00 and gave the company a “neutral” rating in a research report on Monday, August 19th. Finally, Truist Financial lifted their target price on shares of Simon Property Group from $147.00 to $158.00 and gave the company a “hold” rating in a research report on Wednesday, August 28th. Seven investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. According to MarketBeat.com, the company presently has an average rating of “Hold” and an average target price of $162.78.

Simon Property Group Stock Up 1.9 %

Shares of Simon Property Group stock opened at $179.02 on Monday. The company has a debt-to-equity ratio of 8.20, a current ratio of 2.00 and a quick ratio of 2.04. The company has a 50-day moving average of $169.33 and a 200 day moving average of $157.66. The firm has a market cap of $58.37 billion, a price-to-earnings ratio of 23.84, a PEG ratio of 10.44 and a beta of 1.74. Simon Property Group, Inc. has a 1 year low of $113.40 and a 1 year high of $179.46.

Simon Property Group (NYSE:SPG) last announced its quarterly earnings data on Friday, November 1st. The real estate investment trust reported $1.46 EPS for the quarter, missing the consensus estimate of $3.00 by ($1.54). The firm had revenue of $1.48 billion for the quarter, compared to analysts’ expectations of $1.32 billion. Simon Property Group had a net margin of 43.36% and a return on equity of 76.21%. The business’s revenue for the quarter was up 4.9% compared to the same quarter last year. During the same period last year, the company posted $3.20 earnings per share. As a group, sell-side analysts anticipate that Simon Property Group, Inc. will post 12.79 earnings per share for the current fiscal year.

Simon Property Group Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, December 30th. Investors of record on Monday, December 9th will be issued a $2.10 dividend. This is an increase from Simon Property Group’s previous quarterly dividend of $2.05. The ex-dividend date of this dividend is Monday, December 9th. This represents a $8.40 dividend on an annualized basis and a dividend yield of 4.69%. Simon Property Group’s dividend payout ratio (DPR) is presently 109.19%.

Insider Buying and Selling

In other Simon Property Group news, Director Allan B. Hubbard acquired 370 shares of the company’s stock in a transaction that occurred on Monday, September 30th. The shares were bought at an average price of $167.30 per share, with a total value of $61,901.00. Following the completion of the acquisition, the director now owns 34,301 shares in the company, valued at $5,738,557.30. This represents a 0.00 % increase in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. 8.50% of the stock is currently owned by insiders.

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.