MBB Public Markets I LLC Has $3.43 Million Stake in Simon Property Group, Inc. (NYSE:SPG)

MBB Public Markets I LLC lifted its holdings in shares of Simon Property Group, Inc. (NYSE:SPG) by 949.0% during the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 22,584 shares of the real estate investment trust’s stock after purchasing an additional 20,431 shares during the quarter. MBB Public Markets I LLC’s holdings in Simon Property Group were worth $3,428,000 at the end of the most recent quarter.

Several other institutional investors have also modified their holdings of SPG. Clearstead Trust LLC acquired a new stake in Simon Property Group during the 1st quarter worth approximately $25,000. EntryPoint Capital LLC bought a new stake in shares of Simon Property Group during the first quarter worth $26,000. Opal Wealth Advisors LLC bought a new stake in shares of Simon Property Group during the second quarter worth $25,000. Wetzel Investment Advisors Inc. acquired a new stake in shares of Simon Property Group during the second quarter worth $27,000. Finally, Pathway Financial Advisers LLC bought a new stake in Simon Property Group in the 1st quarter valued at $29,000. Institutional investors own 93.01% of the company’s stock.

Analyst Upgrades and Downgrades

SPG has been the topic of several recent research reports. Stifel Nicolaus reissued a “hold” rating and issued a $159.00 price target (up previously from $157.50) on shares of Simon Property Group in a research note on Thursday, September 12th. StockNews.com upgraded Simon Property Group from a “hold” rating to a “buy” rating in a research note on Friday, August 16th. Piper Sandler reaffirmed a “neutral” rating and set a $175.00 price target (down previously from $190.00) on shares of Simon Property Group in a research report on Tuesday, September 3rd. Scotiabank lifted their price objective on shares of Simon Property Group from $152.00 to $169.00 and gave the company a “sector perform” rating in a report on Monday, August 26th. Finally, Mizuho increased 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. Six analysts have rated the stock with a hold rating and four have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average price target of $162.78.

Simon Property Group Trading Up 0.8 %

NYSE SPG opened at $167.71 on Friday. Simon Property Group, Inc. has a 12 month low of $102.11 and a 12 month high of $170.87. The company has a current ratio of 2.04, a quick ratio of 2.04 and a debt-to-equity ratio of 7.53. The stock has a 50 day moving average of $160.77 and a 200-day moving average of $152.74. The company has a market cap of $54.68 billion, a PE ratio of 21.36, a PEG ratio of 9.32 and a beta of 1.74.

Simon Property Group (NYSE:SPG) last announced its quarterly earnings results on Monday, August 5th. The real estate investment trust reported $1.51 EPS for the quarter, missing analysts’ consensus estimates of $2.93 by ($1.42). The firm had revenue of $1.32 billion during 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 business’s revenue was up 4.8% compared to the same quarter last year. During the same quarter in the prior year, the business earned $2.88 EPS. On average, equities research analysts anticipate that Simon Property Group, Inc. will post 12.85 EPS for the current fiscal year.

Simon Property Group Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, September 30th. Shareholders of record on Monday, September 9th will be given a dividend of $2.05 per share. This represents a $8.20 dividend on an annualized basis and a yield of 4.89%. The ex-dividend date of this dividend is Monday, September 9th. This is an increase from Simon Property Group’s previous quarterly dividend of $2.00. Simon Property Group’s payout ratio is 104.46%.

Simon Property Group Company 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.