Simon Property Group, Inc. (NYSE:SPG) Position Boosted by Venture Visionary Partners LLC

Venture Visionary Partners LLC increased its position in Simon Property Group, Inc. (NYSE:SPG) by 16.1% in the third quarter, according to its most recent disclosure with the SEC. The institutional investor owned 16,865 shares of the real estate investment trust’s stock after purchasing an additional 2,334 shares during the period. Venture Visionary Partners LLC’s holdings in Simon Property Group were worth $2,851,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently bought and sold shares of SPG. Vanguard Group Inc. lifted its holdings in 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 worth $7,258,076,000 after buying an additional 672,941 shares during the last quarter. Boston Partners boosted its holdings 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 worth $363,165,000 after purchasing an additional 92,648 shares during the period. Centersquare Investment Management LLC boosted its holdings 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 worth $283,905,000 after purchasing an additional 78,866 shares during the period. PGGM Investments increased its stake in Simon Property Group by 1.9% during the second quarter. PGGM Investments now owns 1,238,123 shares of the real estate investment trust’s stock valued at $187,947,000 after purchasing an additional 23,186 shares during the last quarter. Finally, Hsbc Holdings PLC raised its holdings in shares of Simon Property Group by 6.7% during the second quarter. Hsbc Holdings PLC now owns 1,074,587 shares of the real estate investment trust’s stock worth $162,689,000 after purchasing an additional 67,513 shares during the period. 93.01% of the stock is owned by institutional investors.

Insider Buying and Selling

In other news, Director Allan B. Hubbard acquired 370 shares of the business’s stock in a transaction dated 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 directly owns 34,301 shares in the company, valued at $5,738,557.30. This represents a 0.00 % increase in their position. The acquisition was disclosed in a filing with the SEC, which is available through this link. 8.50% of the stock is owned by corporate insiders.

Simon Property Group Stock Down 1.5 %

Shares of Simon Property Group stock opened at $174.21 on Tuesday. The company has a debt-to-equity ratio of 7.53, a current ratio of 2.04 and a quick ratio of 2.04. Simon Property Group, Inc. has a 1-year low of $104.05 and a 1-year high of $177.08. The business’s fifty day moving average price is $166.35 and its two-hundred day moving average price is $154.84. The company has a market capitalization of $56.80 billion, a P/E ratio of 22.14, a PEG ratio of 9.70 and a beta of 1.74.

Simon Property Group (NYSE:SPG) last issued its quarterly earnings data 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 company 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%. Simon Property Group’s revenue for the quarter was up 4.8% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $2.88 earnings per share. As a group, research analysts forecast 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 paid a dividend of $2.05 per share. This represents a $8.20 dividend on an annualized basis and a dividend yield of 4.71%. The ex-dividend date was Monday, September 9th. This is a positive change from Simon Property Group’s previous quarterly dividend of $2.00. Simon Property Group’s dividend payout ratio (DPR) is currently 104.19%.

Analyst Ratings Changes

Several research analysts have recently commented on SPG shares. Evercore ISI raised shares of Simon Property Group from an “in-line” rating to an “outperform” rating and lifted their price target for the company from $160.00 to $172.00 in a report on Monday, September 16th. Piper Sandler restated a “neutral” rating and issued a $175.00 target price (down from $190.00) on shares of Simon Property Group in a research note on Tuesday, September 3rd. StockNews.com cut Simon Property Group from a “buy” rating to a “hold” rating in a research report on Thursday, October 10th. Stifel Nicolaus restated a “hold” rating and set a $159.00 price objective (up previously from $157.50) on shares of Simon Property Group in a research report on Thursday, September 12th. Finally, Scotiabank increased their target price on Simon Property Group from $152.00 to $169.00 and gave the stock a “sector perform” rating in a research report on Monday, August 26th. Seven investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus price target 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.