Los Angeles Capital Management LLC Grows Stock Holdings in Simon Property Group, Inc. (NYSE:SPG)

Los Angeles Capital Management LLC grew its holdings in shares of Simon Property Group, Inc. (NYSE:SPG) by 5,778.7% in the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 265,954 shares of the real estate investment trust’s stock after buying an additional 261,430 shares during the quarter. Los Angeles Capital Management LLC’s holdings in Simon Property Group were worth $40,372,000 at the end of the most recent quarter.

Other institutional investors also recently bought and sold shares of the company. Clearstead Trust LLC purchased a new position in shares of Simon Property Group in the first quarter valued at $25,000. Opal Wealth Advisors LLC purchased a new position in shares of Simon Property Group in the second quarter valued at $25,000. EntryPoint Capital LLC purchased a new position in shares of Simon Property Group in the first quarter valued at $26,000. Cape Investment Advisory Inc. boosted its stake in shares of Simon Property Group by 3,200.0% in the fourth quarter. Cape Investment Advisory Inc. now owns 198 shares of the real estate investment trust’s stock valued at $28,000 after purchasing an additional 192 shares during the period. Finally, RFP Financial Group LLC boosted its stake in shares of Simon Property Group by 727.3% in the second quarter. RFP Financial Group LLC now owns 182 shares of the real estate investment trust’s stock valued at $28,000 after purchasing an additional 160 shares during the period. 93.01% of the stock is currently owned by hedge funds and other institutional investors.

Simon Property Group Trading Up 0.2 %

NYSE SPG opened at $164.50 on Friday. The company has a debt-to-equity ratio of 7.53, a quick ratio of 2.04 and a current ratio of 2.04. Simon Property Group, Inc. has a one year low of $102.11 and a one year high of $169.18. The company has a 50-day simple moving average of $155.87 and a 200-day simple moving average of $151.15. The firm has a market capitalization of $53.63 billion, a PE ratio of 20.96, a price-to-earnings-growth ratio of 9.05 and a beta of 1.74.

Simon Property Group (NYSE:SPG) last issued its earnings results on Monday, August 5th. The real estate investment trust reported $1.51 EPS for the quarter, missing analysts’ consensus estimates 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%. The business’s revenue was up 4.8% on a year-over-year basis. During the same quarter in the previous year, the firm earned $2.88 earnings per share. On average, equities analysts forecast that Simon Property Group, Inc. will post 12.85 earnings per share for the current year.

Simon Property Group Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, September 30th. Investors of record on Monday, September 9th will be paid a dividend of $2.05 per share. This is an increase from Simon Property Group’s previous quarterly dividend of $2.00. This represents a $8.20 dividend on an annualized basis and a yield of 4.98%. The ex-dividend date is Monday, September 9th. Simon Property Group’s dividend payout ratio is presently 101.91%.

Analyst Ratings Changes

Several research analysts have recently weighed in on SPG shares. Stifel Nicolaus upped their target price on shares of Simon Property Group from $152.00 to $157.50 and gave the company a “buy” rating in a research note on Tuesday, August 6th. Scotiabank upped their target price on shares of Simon Property Group from $152.00 to $169.00 and gave the company a “sector perform” rating in a research note on Monday, August 26th. Truist Financial upped 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 note on Wednesday, August 28th. StockNews.com raised shares of Simon Property Group from a “hold” rating to a “buy” rating in a report on Friday, August 16th. Finally, Argus upped their price target on shares of Simon Property Group from $157.00 to $168.00 and gave the company a “buy” rating in a report on Tuesday, June 11th. Six research analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Hold” and an average target price of $161.28.

Insiders Place Their Bets

In other news, Director Reuben S. Leibowitz purchased 486 shares of Simon Property Group stock in a transaction dated Friday, June 28th. The stock was bought at an average price of $150.17 per share, with a total value of $72,982.62. Following the completion of the acquisition, 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. 8.50% of the stock is owned by corporate insiders.

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.