Liberty Mutual Group Asset Management Inc. Purchases 398 Shares of Simon Property Group, Inc. (NYSE:SPG)

Liberty Mutual Group Asset Management Inc. grew its position in shares of Simon Property Group, Inc. (NYSE:SPG) by 1.5% during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 27,035 shares of the real estate investment trust’s stock after purchasing an additional 398 shares during the quarter. Simon Property Group makes up about 0.6% of Liberty Mutual Group Asset Management Inc.’s investment portfolio, making the stock its 16th largest position. Liberty Mutual Group Asset Management Inc.’s holdings in Simon Property Group were worth $4,104,000 at the end of the most recent reporting period.

Several other institutional investors have also recently modified their holdings of the company. Clearstead Trust LLC purchased a new stake in Simon Property Group during the first quarter valued at about $25,000. Opal Wealth Advisors LLC purchased a new stake in Simon Property Group during the 2nd quarter valued at about $25,000. EntryPoint Capital LLC bought a new position in Simon Property Group during the 1st quarter worth approximately $26,000. Wetzel Investment Advisors Inc. bought a new position in Simon Property Group during the 2nd quarter worth approximately $27,000. Finally, RFP Financial Group LLC increased its stake in Simon Property Group by 727.3% in the 2nd quarter. RFP Financial Group LLC now owns 182 shares of the real estate investment trust’s stock worth $28,000 after purchasing an additional 160 shares during the period. 93.01% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

Several brokerages have recently issued reports on SPG. 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. Argus boosted their price objective on shares of Simon Property Group from $157.00 to $168.00 and gave the company a “buy” rating in a research report on Tuesday, June 11th. Piper Sandler reaffirmed a “neutral” rating and set a $175.00 price objective (down from $190.00) on shares of Simon Property Group in a research note on Tuesday, September 3rd. StockNews.com raised Simon Property Group from a “hold” rating to a “buy” rating in a research note on Friday, August 16th. Finally, Truist Financial upped their price target on Simon Property Group from $147.00 to $158.00 and gave the company a “hold” rating in a research report on Wednesday, August 28th. 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 has an average rating of “Hold” and a consensus price target of $162.78.

Simon Property Group Trading Down 1.6 %

NYSE:SPG opened at $166.31 on Friday. The company has a debt-to-equity ratio of 7.53, a current ratio of 2.04 and a quick ratio of 2.04. The firm has a market capitalization of $54.21 billion, a P/E ratio of 21.19, a PEG ratio of 9.21 and a beta of 1.74. The company’s 50-day simple moving average is $160.48 and its 200 day simple moving average is $152.62. Simon Property Group, Inc. has a one year low of $102.11 and a one year high of $170.87.

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 (EPS) 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 firm had revenue of $1.32 billion during the quarter, compared to analysts’ expectations of $1.30 billion. During the same period last year, the firm posted $2.88 earnings per share. The firm’s quarterly revenue was up 4.8% on a year-over-year basis. As a group, analysts forecast that Simon Property Group, Inc. will post 12.85 EPS for the current fiscal year.

Simon Property Group Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, September 30th. Shareholders of record on Monday, September 9th will be issued a $2.05 dividend. This is a positive change 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 dividend on an annualized basis and a dividend yield of 4.93%. Simon Property Group’s dividend payout ratio (DPR) is presently 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.