Ballentine Partners LLC Buys 389 Shares of Simon Property Group, Inc. (NYSE:SPG)

Ballentine Partners LLC boosted its stake in shares of Simon Property Group, Inc. (NYSE:SPG) by 9.2% in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 4,627 shares of the real estate investment trust’s stock after acquiring an additional 389 shares during the quarter. Ballentine Partners LLC’s holdings in Simon Property Group were worth $702,000 as of its most recent SEC filing.

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

Analyst Ratings Changes

A number of equities research analysts have recently weighed in on SPG shares. Truist Financial boosted their target price on Simon Property Group from $147.00 to $158.00 and gave the stock a “hold” rating in a research report on Wednesday, August 28th. StockNews.com raised Simon Property Group from a “hold” rating to a “buy” rating in a report on Friday, August 16th. Piper Sandler reaffirmed 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. Mizuho boosted their price target 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, Stifel Nicolaus raised their price objective 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. Six analysts have rated the stock with a hold rating and four have issued a buy rating to the company. According to MarketBeat, the company presently has a consensus rating of “Hold” and a consensus target price of $161.28.

Insiders Place Their Bets

In related 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, for a total transaction of $72,982.62. Following the completion of the acquisition, the director now directly owns 55,001 shares of the company’s stock, valued at $8,259,500.17. The acquisition was disclosed in a filing with the SEC, which is available through this hyperlink. Corporate insiders own 8.50% of the company’s stock.

Simon Property Group Trading Down 0.3 %

Shares of NYSE SPG opened at $161.93 on Tuesday. Simon Property Group, Inc. has a twelve month low of $102.11 and a twelve month high of $169.18. The stock has a market cap of $52.80 billion, a price-to-earnings ratio of 20.63, a P/E/G ratio of 9.01 and a beta of 1.74. The company has a quick ratio of 2.04, a current ratio of 2.04 and a debt-to-equity ratio of 7.53. The company’s fifty day moving average is $156.18 and its 200-day moving average is $151.23.

Simon Property Group (NYSE:SPG) last posted its earnings results 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). Simon Property Group had a return on equity of 78.14% and a net margin of 45.90%. The business had revenue of $1.32 billion for the quarter, compared to the consensus estimate of $1.30 billion. During the same quarter in the prior year, the firm posted $2.88 earnings per share. The business’s revenue was up 4.8% on a year-over-year basis. Equities research analysts predict that Simon Property Group, Inc. will post 12.85 EPS for the current year.

Simon Property Group Increases Dividend

The firm also recently announced 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 represents a $8.20 dividend on an annualized basis and a yield of 5.06%. This is a boost from Simon Property Group’s previous quarterly dividend of $2.00. The ex-dividend date of this dividend is Monday, September 9th. Simon Property Group’s dividend payout ratio is presently 101.91%.

Simon Property Group Company 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.