Coldstream Capital Management Inc. Buys 368 Shares of Simon Property Group, Inc. (NYSE:SPG)

Coldstream Capital Management Inc. lifted its stake in shares of Simon Property Group, Inc. (NYSE:SPG) by 6.8% in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 5,793 shares of the real estate investment trust’s stock after acquiring an additional 368 shares during the quarter. Coldstream Capital Management Inc.’s holdings in Simon Property Group were worth $879,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds also recently made changes to their positions in SPG. Principal Securities Inc. bought a new position in shares of Simon Property Group during the fourth quarter worth about $352,000. Envestnet Portfolio Solutions Inc. increased its holdings in Simon Property Group by 5.3% in the fourth quarter. Envestnet Portfolio Solutions Inc. now owns 24,501 shares of the real estate investment trust’s stock worth $3,495,000 after purchasing an additional 1,233 shares in the last quarter. Avantax Advisory Services Inc. increased its holdings in Simon Property Group by 1.6% in the fourth quarter. Avantax Advisory Services Inc. now owns 5,459 shares of the real estate investment trust’s stock worth $779,000 after purchasing an additional 86 shares in the last quarter. Moran Wealth Management LLC bought a new stake in Simon Property Group in the fourth quarter worth approximately $1,544,000. Finally, Janney Montgomery Scott LLC increased its holdings in Simon Property Group by 5.3% in the fourth quarter. Janney Montgomery Scott LLC now owns 57,409 shares of the real estate investment trust’s stock worth $8,189,000 after purchasing an additional 2,895 shares in the last quarter. 93.01% of the stock is currently owned by institutional investors.

Simon Property Group Stock Down 0.4 %

Shares of NYSE:SPG opened at $163.31 on Thursday. The stock has a market cap of $53.25 billion, a price-to-earnings ratio of 20.80, a PEG 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. Simon Property Group, Inc. has a 12-month low of $102.11 and a 12-month high of $169.18. The business’s 50 day moving average is $156.81 and its 200 day moving average is $151.41.

Simon Property Group (NYSE:SPG) last announced its earnings results on Monday, August 5th. The real estate investment trust reported $1.51 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.93 by ($1.42). The company had revenue of $1.32 billion for the quarter, compared to analysts’ expectations of $1.30 billion. Simon Property Group had a net margin of 45.90% and a return on equity of 78.14%. The firm’s quarterly revenue was up 4.8% on a year-over-year basis. During the same period in the previous year, the firm earned $2.88 EPS. On average, sell-side analysts forecast 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 announced a quarterly dividend, which will be paid on Monday, September 30th. Investors of record on Monday, September 9th will be given a dividend of $2.05 per share. 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. This represents a $8.20 annualized dividend and a dividend yield of 5.02%. Simon Property Group’s payout ratio is presently 101.91%.

Insider Activity at Simon Property Group

In other Simon Property Group news, Director Reuben S. Leibowitz acquired 486 shares of the business’s stock in a transaction on Friday, June 28th. The shares were acquired at an average price of $150.17 per share, with a total value 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 acquisition was disclosed in a legal filing with the SEC, which is available at the SEC website. 8.50% of the stock is owned by insiders.

Analysts Set New Price Targets

A number of brokerages have weighed in on SPG. Truist Financial lifted their target price on Simon Property Group from $147.00 to $158.00 and gave the stock a “hold” rating in a report on Wednesday, August 28th. Stifel Nicolaus lifted their target price on Simon Property Group from $152.00 to $157.50 and gave the stock a “buy” rating in a report on Tuesday, August 6th. Piper Sandler reissued a “neutral” rating and issued a $175.00 price objective (down previously from $190.00) on shares of Simon Property Group in a research note on Tuesday, September 3rd. Evercore ISI raised their price objective on Simon Property Group from $157.00 to $160.00 and gave the company an “in-line” rating in a research note on Wednesday, August 28th. Finally, StockNews.com raised Simon Property Group from a “hold” rating to a “buy” rating in a research note on Friday, August 16th. Six analysts have rated the stock with a hold rating and four have issued a buy rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Hold” and a consensus price target of $161.28.

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.