Acadian Asset Management LLC Boosts Stock Position in Simon Property Group, Inc. (NYSE:SPG)

Acadian Asset Management LLC raised its holdings in Simon Property Group, Inc. (NYSE:SPG) by 838.4% during the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 99,025 shares of the real estate investment trust’s stock after purchasing an additional 88,473 shares during the period. Acadian Asset Management LLC’s holdings in Simon Property Group were worth $15,028,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently made changes to their positions in SPG. Diligent Investors LLC raised its stake in shares of Simon Property Group by 0.5% during the second quarter. Diligent Investors LLC now owns 13,740 shares of the real estate investment trust’s stock valued at $2,086,000 after purchasing an additional 68 shares in the last quarter. Augustine Asset Management Inc. raised its position in shares of Simon Property Group by 3.8% during the 2nd quarter. Augustine Asset Management Inc. now owns 1,859 shares of the real estate investment trust’s stock worth $282,000 after buying an additional 68 shares in the last quarter. TIAA Trust National Association lifted its stake in shares of Simon Property Group by 3.7% in the 1st quarter. TIAA Trust National Association now owns 1,913 shares of the real estate investment trust’s stock worth $299,000 after acquiring an additional 69 shares during the period. Inspire Advisors LLC boosted its holdings in shares of Simon Property Group by 1.7% in the first quarter. Inspire Advisors LLC now owns 4,126 shares of the real estate investment trust’s stock valued at $646,000 after acquiring an additional 70 shares in the last quarter. Finally, Capital Advisors Ltd. LLC increased its stake in shares of Simon Property Group by 26.9% during the second quarter. Capital Advisors Ltd. LLC now owns 344 shares of the real estate investment trust’s stock valued at $52,000 after acquiring an additional 73 shares during the period. 93.01% of the stock is currently owned by hedge funds and other institutional investors.

Simon Property Group Price Performance

SPG stock opened at $161.93 on Tuesday. Simon Property Group, Inc. has a one year low of $102.11 and a one year high of $169.18. The firm has a 50-day moving average of $156.18 and a two-hundred day moving average of $151.23. The firm has a market capitalization of $52.80 billion, a PE ratio of 20.63, a P/E/G ratio of 9.01 and a beta of 1.74. The company has a current ratio of 2.04, a quick ratio of 2.04 and a debt-to-equity ratio of 7.53.

Simon Property Group (NYSE:SPG) last issued its quarterly earnings results on Monday, August 5th. The real estate investment trust reported $1.51 EPS for the quarter, missing the consensus estimate of $2.93 by ($1.42). Simon Property Group had a net margin of 45.90% and a return on equity of 78.14%. The firm had revenue of $1.32 billion during the quarter, compared to analysts’ expectations of $1.30 billion. During the same quarter last year, the company posted $2.88 EPS. The firm’s revenue was up 4.8% compared to the same quarter last year. On average, 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 declared a quarterly dividend, which will be paid on Monday, September 30th. Investors of record on Monday, September 9th will be issued a dividend of $2.05 per share. This is a boost from Simon Property Group’s previous quarterly dividend of $2.00. This represents a $8.20 annualized dividend and a dividend yield of 5.06%. The ex-dividend date of this dividend is Monday, September 9th. Simon Property Group’s dividend payout ratio (DPR) is currently 101.91%.

Insider Activity at Simon Property Group

In related news, Director Reuben S. Leibowitz bought 486 shares of the business’s stock in a transaction on Friday, June 28th. The stock was bought at an average price of $150.17 per share, for a total transaction of $72,982.62. Following the transaction, the director now directly owns 55,001 shares in the company, valued at $8,259,500.17. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. 8.50% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

A number of brokerages have issued reports on SPG. Mizuho increased their price target on Simon Property Group from $155.00 to $158.00 and gave the company a “neutral” rating in a research note on Monday, August 19th. Piper Sandler reaffirmed a “neutral” rating and set a $175.00 target price (down from $190.00) on shares of Simon Property Group in a report on Tuesday, September 3rd. StockNews.com upgraded shares of Simon Property Group from a “hold” rating to a “buy” rating in a research report on Friday, August 16th. Evercore ISI raised their price objective on shares of Simon Property Group from $157.00 to $160.00 and gave the company an “in-line” rating in a research report on Wednesday, August 28th. Finally, Scotiabank boosted their target price on shares of Simon Property Group from $152.00 to $169.00 and gave the stock a “sector perform” rating in a report on Monday, August 26th. Six equities research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. According to data from MarketBeat, Simon Property Group presently has an average rating of “Hold” and an average price target of $161.28.

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.