Callan Family Office LLC Acquires New Position in Simon Property Group, Inc. (NYSE:SPG)

Callan Family Office LLC acquired a new stake in shares of Simon Property Group, Inc. (NYSE:SPG) in the second quarter, according to the company in its most recent filing with the SEC. The firm acquired 1,643 shares of the real estate investment trust’s stock, valued at approximately $249,000.

Several other large investors have also modified their holdings of SPG. Federated Hermes Inc. raised its holdings in shares of Simon Property Group by 10.2% in the 4th quarter. Federated Hermes Inc. now owns 18,107 shares of the real estate investment trust’s stock valued at $2,583,000 after purchasing an additional 1,674 shares in the last quarter. CWM LLC raised its holdings in shares of Simon Property Group by 7.8% in the 4th quarter. CWM LLC now owns 6,914 shares of the real estate investment trust’s stock valued at $986,000 after purchasing an additional 502 shares in the last quarter. Bank Julius Baer & Co. Ltd Zurich raised its holdings in shares of Simon Property Group by 5.9% in the 4th quarter. Bank Julius Baer & Co. Ltd Zurich now owns 4,209 shares of the real estate investment trust’s stock valued at $600,000 after purchasing an additional 233 shares in the last quarter. Kovack Advisors Inc. bought a new stake in shares of Simon Property Group in the 4th quarter valued at about $281,000. Finally, Schwarz Dygos Wheeler Investment Advisors LLC bought a new stake in shares of Simon Property Group in the 4th quarter valued at about $209,000. Institutional investors own 93.01% of the company’s stock.

Wall Street Analysts Forecast Growth

SPG has been the subject of several recent analyst reports. Stifel Nicolaus boosted their price objective on shares of Simon Property Group from $152.00 to $157.50 and gave the stock a “buy” rating in a research note on Tuesday, August 6th. Argus boosted their price objective on shares of Simon Property Group from $157.00 to $168.00 and gave the stock a “buy” rating in a research note on Tuesday, June 11th. Evercore ISI boosted their price objective on shares of Simon Property Group from $150.00 to $155.00 and gave the stock an “in-line” rating in a research note on Tuesday, August 6th. Mizuho boosted their price objective on shares of Simon Property Group from $155.00 to $158.00 and gave the stock a “neutral” rating in a research note on Monday, August 19th. Finally, Scotiabank boosted their price objective on shares of Simon Property Group from $152.00 to $169.00 and gave the stock a “sector perform” rating in a research note on Monday. Six equities research analysts have rated the stock with a hold rating and five have given a buy rating to the stock. According to data from MarketBeat.com, Simon Property Group presently has an average rating of “Hold” and an average target price of $155.65.

Simon Property Group Stock Up 0.5 %

NYSE:SPG opened at $167.36 on Tuesday. The firm has a market capitalization of $54.55 billion, a P/E ratio of 21.32, a PEG ratio of 8.58 and a beta of 1.75. Simon Property Group, Inc. has a 1-year low of $102.11 and a 1-year high of $168.09. The company’s fifty day moving average price is $152.67 and its 200-day moving average price is $149.97. The company has a debt-to-equity ratio of 7.53, a current ratio of 2.04 and a quick ratio of 2.04.

Simon Property Group (NYSE:SPG) last released its quarterly earnings data on Monday, August 5th. The real estate investment trust reported $1.51 earnings per share for the quarter, missing analysts’ consensus estimates of $2.93 by ($1.42). The business had revenue of $1.32 billion during the quarter, compared to analyst estimates of $1.30 billion. Simon Property Group had a return on equity of 78.14% and a net margin of 45.90%. The firm’s revenue was up 4.8% compared to the same quarter last year. During the same quarter in the previous year, the company earned $2.88 EPS. As a group, equities research analysts anticipate that Simon Property Group, Inc. will post 12.85 EPS for the current year.

Simon Property Group Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, September 30th. Stockholders of record on Monday, September 9th will be paid a $2.05 dividend. The ex-dividend date is Monday, September 9th. This represents a $8.20 dividend on an annualized basis and a dividend yield of 4.90%. This is a positive change from Simon Property Group’s previous quarterly dividend of $2.00. Simon Property Group’s dividend payout ratio is presently 104.46%.

Insider Activity at Simon Property Group

In other news, Director Reuben S. Leibowitz purchased 486 shares of the company’s stock in a transaction that occurred on Friday, June 28th. The shares were bought at an average price of $150.17 per share, for a total transaction of $72,982.62. Following the completion of the transaction, the director now owns 55,001 shares in the company, valued at $8,259,500.17. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. 8.50% of the stock is owned by company insiders.

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.