2,400 Shares in Simon Property Group, Inc. (NYSE:SPG) Acquired by Renaissance Technologies LLC

Renaissance Technologies LLC bought a new position in shares of Simon Property Group, Inc. (NYSE:SPG) in the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The firm bought 2,400 shares of the real estate investment trust’s stock, valued at approximately $364,000.

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

Insider Activity at Simon Property Group

In related news, Director Allan B. Hubbard acquired 370 shares of the company’s stock in a transaction that occurred on Monday, September 30th. The stock was acquired at an average price of $167.30 per share, for a total transaction of $61,901.00. Following the completion of the acquisition, the director now owns 34,301 shares of the company’s stock, valued at $5,738,557.30. This trade represents a 0.00 % increase in their position. The purchase was disclosed in a legal filing with the SEC, which is available at the SEC website. 8.50% of the stock is currently owned by corporate insiders.

Simon Property Group Trading Up 1.8 %

SPG stock opened at $170.78 on Friday. The company has a market cap of $55.68 billion, a P/E ratio of 21.70, a PEG ratio of 9.27 and a beta of 1.74. Simon Property Group, Inc. has a twelve month low of $104.05 and a twelve month high of $171.51. 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 business has a fifty day moving average of $163.88 and a 200-day moving average of $153.89.

Simon Property Group (NYSE:SPG) last released its earnings results on Monday, August 5th. The real estate investment trust reported $1.51 earnings per share for the quarter, missing analysts’ consensus estimates of $2.93 by ($1.42). The firm had revenue of $1.32 billion for the quarter, compared to the consensus estimate of $1.30 billion. Simon Property Group had a return on equity of 78.14% and a net margin of 45.90%. The company’s revenue was up 4.8% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $2.88 EPS. As a group, equities research analysts expect that Simon Property Group, Inc. will post 12.85 EPS for the current year.

Simon Property Group Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, September 30th. Investors of record on Monday, September 9th were issued a $2.05 dividend. This represents a $8.20 dividend on an annualized basis and a yield of 4.80%. The ex-dividend date was Monday, September 9th. This is an increase from Simon Property Group’s previous quarterly dividend of $2.00. Simon Property Group’s dividend payout ratio is currently 104.19%.

Analyst Upgrades and Downgrades

A number of research firms recently weighed in on SPG. Piper Sandler reaffirmed a “neutral” rating and set a $175.00 price target (down from $190.00) on shares of Simon Property Group in a report on Tuesday, September 3rd. Truist Financial raised their price target on Simon Property Group from $147.00 to $158.00 and gave the company a “hold” rating in a report on Wednesday, August 28th. Stifel Nicolaus reaffirmed a “hold” rating and set a $159.00 price target (up from $157.50) on shares of Simon Property Group in a report on Thursday, September 12th. Scotiabank raised their price target on 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, StockNews.com cut Simon Property Group from a “buy” rating to a “hold” rating in a report on Thursday. Seven research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. According to MarketBeat.com, 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.