Pine Valley Investments Ltd Liability Co Buys 1,700 Shares of Simon Property Group, Inc. (NYSE:SPG)

Pine Valley Investments Ltd Liability Co grew its holdings in Simon Property Group, Inc. (NYSE:SPG) by 20.1% in the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 10,175 shares of the real estate investment trust’s stock after buying an additional 1,700 shares during the period. Pine Valley Investments Ltd Liability Co’s holdings in Simon Property Group were worth $1,545,000 at the end of the most recent quarter.

A number of other hedge funds also recently made changes to their positions in SPG. Norges Bank acquired a new stake in shares of Simon Property Group in the fourth quarter valued at approximately $2,561,181,000. Vanguard Group Inc. lifted its position in shares of Simon Property Group by 1.5% in the first quarter. Vanguard Group Inc. now owns 46,380,446 shares of the real estate investment trust’s stock valued at $7,258,076,000 after buying an additional 672,941 shares during the last quarter. Panagora Asset Management Inc. lifted its position in shares of Simon Property Group by 11,722.9% in the fourth quarter. Panagora Asset Management Inc. now owns 672,724 shares of the real estate investment trust’s stock valued at $95,957,000 after buying an additional 667,034 shares during the last quarter. Franklin Resources Inc. lifted its position in shares of Simon Property Group by 134.3% in the fourth quarter. Franklin Resources Inc. now owns 563,825 shares of the real estate investment trust’s stock valued at $80,424,000 after buying an additional 323,168 shares during the last quarter. Finally, Castle Hook Partners LP lifted its position in shares of Simon Property Group by 182.0% in the first quarter. Castle Hook Partners LP now owns 480,692 shares of the real estate investment trust’s stock valued at $75,223,000 after buying an additional 310,207 shares during the last quarter. 93.01% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling at Simon Property Group

In other Simon Property Group news, Director Reuben S. Leibowitz purchased 486 shares of the firm’s stock in a transaction dated 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 purchase, the director now owns 55,001 shares in the company, valued at approximately $8,259,500.17. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Insiders own 8.50% of the company’s stock.

Simon Property Group Price Performance

Shares of NYSE SPG opened at $167.35 on Friday. The stock has a market capitalization of $54.56 billion, a PE ratio of 21.32, a P/E/G ratio of 9.17 and a beta of 1.75. The company has a debt-to-equity ratio of 7.53, a current ratio of 2.04 and a quick ratio of 2.04. The business has a fifty day moving average price of $154.32 and a two-hundred day moving average price of $150.50. Simon Property Group, Inc. has a fifty-two week low of $102.11 and a fifty-two week high of $169.18.

Simon Property Group (NYSE:SPG) last announced its quarterly earnings data on Monday, August 5th. The real estate investment trust reported $1.51 earnings per share 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 analyst estimates of $1.30 billion. Simon Property Group had a net margin of 45.90% and a return on equity of 78.14%. Simon Property Group’s revenue was up 4.8% on a year-over-year basis. During the same period in the prior year, the firm earned $2.88 earnings per share. As a group, equities analysts predict that Simon Property Group, Inc. will post 12.85 earnings per share for the current fiscal year.

Simon Property Group Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, September 30th. Shareholders of record on Monday, September 9th will be issued a $2.05 dividend. The ex-dividend date is 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 4.90%. Simon Property Group’s payout ratio is currently 101.91%.

Analyst Ratings Changes

A number of analysts have recently issued reports on the company. Stifel Nicolaus raised their price objective on Simon Property Group from $152.00 to $157.50 and gave the company a “buy” rating in a research report on Tuesday, August 6th. Truist Financial lifted their price target on Simon Property Group from $147.00 to $158.00 and gave the stock a “hold” rating in a report on Wednesday. StockNews.com raised Simon Property Group from a “hold” rating to a “buy” rating in a report on Friday, August 16th. Argus lifted their price target on Simon Property Group from $157.00 to $168.00 and gave the stock a “buy” rating in a report on Tuesday, June 11th. Finally, Mizuho lifted their price target on Simon Property Group from $155.00 to $158.00 and gave the stock a “neutral” rating in a report on Monday, August 19th. Five analysts have rated the stock with a hold rating and five have issued a buy rating to the company. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $160.94.

About Simon Property Group

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.