SkyView Investment Advisors LLC Acquires 392 Shares of Simon Property Group, Inc. (NYSE:SPG)

SkyView Investment Advisors LLC raised its holdings in shares of Simon Property Group, Inc. (NYSE:SPG) by 12.1% in the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 3,645 shares of the real estate investment trust’s stock after buying an additional 392 shares during the period. SkyView Investment Advisors LLC’s holdings in Simon Property Group were worth $553,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently modified their holdings of SPG. Kathmere Capital Management LLC boosted its holdings in Simon Property Group by 25.3% during the 2nd quarter. Kathmere Capital Management LLC now owns 1,765 shares of the real estate investment trust’s stock valued at $268,000 after acquiring an additional 356 shares during the period. Liberty Mutual Group Asset Management Inc. lifted its position in Simon Property Group by 1.5% in the second quarter. Liberty Mutual Group Asset Management Inc. now owns 27,035 shares of the real estate investment trust’s stock valued at $4,104,000 after purchasing an additional 398 shares during the last quarter. Mark Asset Management LP boosted its stake in shares of Simon Property Group by 0.9% during the second quarter. Mark Asset Management LP now owns 8,095 shares of the real estate investment trust’s stock valued at $1,229,000 after purchasing an additional 72 shares during the period. MBB Public Markets I LLC grew its holdings in shares of Simon Property Group by 949.0% in the second quarter. MBB Public Markets I LLC now owns 22,584 shares of the real estate investment trust’s stock worth $3,428,000 after purchasing an additional 20,431 shares during the last quarter. Finally, D. E. Shaw & Co. Inc. increased its stake in shares of Simon Property Group by 171.4% in the second quarter. D. E. Shaw & Co. Inc. now owns 237,096 shares of the real estate investment trust’s stock worth $35,991,000 after buying an additional 149,739 shares during the period. 93.01% of the stock is owned by institutional investors.

Simon Property Group Trading Up 0.8 %

SPG opened at $167.71 on Friday. 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 52 week low of $102.11 and a 52 week high of $170.87. The stock 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. The business has a 50 day moving average of $160.77 and a 200-day moving average of $152.76.

Simon Property Group (NYSE:SPG) last announced its 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 business had revenue of $1.32 billion for the quarter, compared to the consensus estimate 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 quarterly revenue was up 4.8% on a year-over-year basis. During the same quarter last year, the firm posted $2.88 EPS. Equities research analysts predict that Simon Property Group, Inc. will post 12.85 earnings per share 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 paid a dividend of $2.05 per share. This is an increase 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 4.89%. Simon Property Group’s dividend payout ratio (DPR) is currently 104.46%.

Wall Street Analyst Weigh In

Several brokerages have weighed in on SPG. Scotiabank increased their price target on shares of Simon Property Group from $152.00 to $169.00 and gave the company a “sector perform” rating in a research report on Monday, August 26th. Mizuho raised their target price on Simon Property Group from $155.00 to $158.00 and gave the stock a “neutral” rating in a research note on Monday, August 19th. Argus upped their price target on Simon Property Group from $157.00 to $168.00 and gave the company a “buy” rating in a research report on Tuesday, June 11th. Truist Financial lifted their price objective on Simon Property Group from $147.00 to $158.00 and gave the stock a “hold” rating in a research report on Wednesday, August 28th. Finally, Evercore ISI upgraded Simon Property Group from an “in-line” rating to an “outperform” rating and upped their target price for the company from $160.00 to $172.00 in a report on Monday, September 16th. Six equities research analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. According to data from MarketBeat, Simon Property Group currently has an average rating of “Hold” and an average target price of $162.78.

About Simon Property Group

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.