Simon Property Group, Inc. (NYSE:SPG) Stake Increased by Xponance Inc.

Xponance Inc. increased its holdings in Simon Property Group, Inc. (NYSE:SPG) by 2.4% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 64,047 shares of the real estate investment trust’s stock after acquiring an additional 1,489 shares during the period. Xponance Inc.’s holdings in Simon Property Group were worth $9,722,000 at the end of the most recent reporting period.

Several other hedge funds have also recently bought and sold shares of SPG. Vanguard Group Inc. boosted its stake in shares of Simon Property Group by 1.5% during the 1st quarter. Vanguard Group Inc. now owns 46,380,446 shares of the real estate investment trust’s stock valued at $7,258,076,000 after buying an additional 672,941 shares during the period. Boston Partners grew its stake in Simon Property Group by 4.2% in the first quarter. Boston Partners now owns 2,321,228 shares of the real estate investment trust’s stock valued at $363,165,000 after purchasing an additional 92,648 shares in the last quarter. Centersquare Investment Management LLC grew its stake in Simon Property Group by 4.5% in the first quarter. Centersquare Investment Management LLC now owns 1,814,206 shares of the real estate investment trust’s stock valued at $283,905,000 after purchasing an additional 78,866 shares in the last quarter. PGGM Investments increased its position in Simon Property Group by 1.9% in the 2nd quarter. PGGM Investments now owns 1,238,123 shares of the real estate investment trust’s stock worth $187,947,000 after purchasing an additional 23,186 shares during the last quarter. Finally, Sei Investments Co. raised its stake in shares of Simon Property Group by 13.7% during the 4th quarter. Sei Investments Co. now owns 1,086,852 shares of the real estate investment trust’s stock worth $155,030,000 after purchasing an additional 130,729 shares in the last quarter. 93.01% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of equities analysts recently commented on SPG shares. Stifel Nicolaus restated a “hold” rating and issued a $159.00 price objective (up previously from $157.50) on shares of Simon Property Group in a report on Thursday, September 12th. Argus raised 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. StockNews.com upgraded shares of Simon Property Group from a “hold” rating to a “buy” rating in a report on Friday, August 16th. Mizuho raised their price objective 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. Finally, Piper Sandler reiterated a “neutral” rating and set a $175.00 price target (down previously from $190.00) on shares of Simon Property Group in a report on Tuesday, September 3rd. Six analysts have rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, Simon Property Group currently has a consensus rating of “Hold” and a consensus price target of $162.78.

Insider Transactions at Simon Property Group

In other news, Director Reuben S. Leibowitz purchased 486 shares of Simon Property Group stock in a transaction on Friday, June 28th. The shares were purchased at an average cost of $150.17 per share, for a total transaction of $72,982.62. Following the completion of the transaction, the director now directly owns 55,001 shares in the company, valued at $8,259,500.17. The purchase was disclosed in a document filed with the SEC, which is available through this hyperlink. 8.50% of the stock is owned by insiders.

Simon Property Group Trading Up 1.0 %

Shares of SPG opened at $168.17 on Tuesday. Simon Property Group, Inc. has a 12-month low of $102.11 and a 12-month high of $169.18. 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 stock’s 50-day moving average price is $159.56 and its 200 day moving average price is $152.27. The firm has a market capitalization of $54.81 billion, a price-to-earnings ratio of 21.42, a P/E/G ratio of 9.04 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 earnings per share for the quarter, missing the consensus estimate of $2.93 by ($1.42). The business 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%. Simon Property Group’s revenue was up 4.8% on a year-over-year basis. During the same quarter last year, the firm posted $2.88 earnings per share. As a group, research analysts predict 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. Shareholders of record on Monday, September 9th will be paid a dividend of $2.05 per share. This is a positive change from Simon Property Group’s previous quarterly dividend of $2.00. This represents a $8.20 annualized dividend and a yield of 4.88%. The ex-dividend date is Monday, September 9th. Simon Property Group’s dividend payout ratio is currently 104.46%.

Simon Property Group Profile

Simon Property Group, Inc (NYSE:SPG) is a self-administered and self-managed real estate investment trust (REIT). Simon Property Group, L.P., or the Operating Partnership, is our majority-owned partnership subsidiary that owns all of our real estate properties and other assets. In this package, the terms Simon, we, our, or the Company refer to Simon Property Group, Inc, the Operating Partnership, and its subsidiaries.