Simon Property Group, Inc. (NYSE:SPG) Shares Bought by Oppenheimer & Co. Inc.

Oppenheimer & Co. Inc. lifted its holdings in shares of Simon Property Group, Inc. (NYSE:SPG) by 4.3% during the second quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 38,598 shares of the real estate investment trust’s stock after acquiring an additional 1,579 shares during the quarter. Oppenheimer & Co. Inc.’s holdings in Simon Property Group were worth $5,859,000 as of its most recent filing with the SEC.

Other institutional investors have also modified their holdings of the company. Diligent Investors LLC grew its holdings in Simon Property Group by 0.5% during the 2nd quarter. Diligent Investors LLC now owns 13,740 shares of the real estate investment trust’s stock worth $2,086,000 after acquiring an additional 68 shares in the last quarter. Augustine Asset Management Inc. lifted its position in shares of Simon Property Group by 3.8% during the second quarter. Augustine Asset Management Inc. now owns 1,859 shares of the real estate investment trust’s stock worth $282,000 after purchasing an additional 68 shares during the last quarter. TIAA Trust National Association grew its stake in Simon Property Group by 3.7% in the first 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 in the last quarter. Inspire Advisors LLC increased its holdings in 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 buying an additional 70 shares during the last quarter. Finally, Capital Advisors Ltd. LLC raised its stake in 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 buying an additional 73 shares in the last quarter. Institutional investors and hedge funds own 93.01% of the company’s stock.

Insider Buying and Selling at Simon Property Group

In other news, Director Reuben S. Leibowitz acquired 486 shares of the business’s stock in a transaction dated Friday, June 28th. The stock was acquired 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 in the company, valued at approximately $8,259,500.17. The acquisition was disclosed in a legal filing with the SEC, which is accessible through this link. 8.50% of the stock is currently owned by corporate insiders.

Simon Property Group Price Performance

Shares of SPG opened at $164.02 on Friday. Simon Property Group, Inc. has a one year low of $102.11 and a one year high of $169.18. The stock’s fifty day moving average is $157.48 and its 200-day moving average is $151.61. The company has a debt-to-equity ratio of 7.53, a quick ratio of 2.04 and a current ratio of 2.04. The firm has a market capitalization of $53.48 billion, a price-to-earnings ratio of 20.89, a price-to-earnings-growth ratio of 8.95 and a beta of 1.74.

Simon Property Group (NYSE:SPG) last released its 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). The company had revenue of $1.32 billion for 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 firm’s quarterly revenue was up 4.8% on a year-over-year basis. During the same period in the previous year, the business posted $2.88 EPS. Equities analysts anticipate that Simon Property Group, Inc. will post 12.85 EPS for the current year.

Simon Property Group Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, September 30th. Shareholders of record on Monday, September 9th will be given a $2.05 dividend. This represents a $8.20 dividend on an annualized basis and a yield of 5.00%. This is an increase from Simon Property Group’s previous quarterly dividend of $2.00. The ex-dividend date is Monday, September 9th. Simon Property Group’s dividend payout ratio is 104.46%.

Analyst Ratings Changes

SPG has been the subject of a number of research analyst reports. Stifel Nicolaus reiterated a “hold” rating and issued a $159.00 price target (up from $157.50) on shares of Simon Property Group in a report on Thursday. Evercore ISI boosted 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. Mizuho raised their target price on shares of Simon Property Group from $155.00 to $158.00 and gave the stock a “neutral” rating in a report on Monday, August 19th. Truist Financial upped their target price on Simon Property Group from $147.00 to $158.00 and gave the company a “hold” rating in a report on Wednesday, August 28th. Finally, Argus raised 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. Seven research analysts have rated the stock with a hold rating and three have given a buy rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus price target of $161.44.

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.