Simon Property Group, Inc. (NYSE:SPG) Shares Purchased by Signaturefd LLC

Signaturefd LLC lifted its stake in shares of Simon Property Group, Inc. (NYSE:SPG) by 9.7% during the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 5,471 shares of the real estate investment trust’s stock after purchasing an additional 486 shares during the quarter. Signaturefd LLC’s holdings in Simon Property Group were worth $925,000 at the end of the most recent reporting period.

A number of other hedge funds have also made changes to their positions in the stock. Clearstead Trust LLC purchased a new stake in shares of Simon Property Group in the first quarter valued at $25,000. EntryPoint Capital LLC purchased a new stake in Simon Property Group in the 1st quarter worth approximately $26,000. Opal Wealth Advisors LLC acquired a new stake in shares of Simon Property Group during the 2nd quarter valued at $25,000. Wetzel Investment Advisors Inc. purchased a new position in shares of Simon Property Group during the 2nd quarter valued at $27,000. Finally, Pathway Financial Advisers LLC purchased a new stake in shares of Simon Property Group during the first quarter worth $29,000. Institutional investors and hedge funds own 93.01% of the company’s stock.

Wall Street Analyst Weigh In

A number of research analysts have commented on SPG shares. Stifel Nicolaus restated a “hold” rating and issued a $159.00 target price (up previously from $157.50) on shares of Simon Property Group in a research note on Thursday, September 12th. Mizuho upped their target price on Simon Property Group from $155.00 to $158.00 and gave the stock a “neutral” rating in a research report on Monday, August 19th. Piper Sandler restated a “neutral” rating and issued a $175.00 price objective (down from $190.00) on shares of Simon Property Group in a research note on Tuesday, September 3rd. Scotiabank upped 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 report on Monday, August 26th. Finally, Evercore ISI upgraded Simon Property Group from an “in-line” rating to an “outperform” rating and lifted their price objective for the stock from $160.00 to $172.00 in a research note on Monday, September 16th. Seven equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and an average target price of $162.78.

Simon Property Group Stock Down 0.3 %

NYSE SPG opened at $173.38 on Friday. Simon Property Group, Inc. has a twelve month low of $104.05 and a twelve month high of $177.08. The stock has a market cap of $56.51 billion, a PE ratio of 22.09, a PEG ratio of 9.58 and a beta of 1.74. The firm has a 50-day simple moving average of $167.07 and a 200 day simple moving average of $155.15. The company has a debt-to-equity ratio of 7.53, a quick ratio of 2.04 and a current ratio of 2.04.

Simon Property Group (NYSE:SPG) last posted 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 business had revenue of $1.32 billion during 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 revenue was up 4.8% compared to the same quarter last year. During the same period in the previous year, the firm earned $2.88 EPS. On average, 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 declared a quarterly dividend, which was paid on Monday, September 30th. Shareholders of record on Monday, September 9th were given a $2.05 dividend. This represents a $8.20 dividend on an annualized basis and a yield of 4.73%. This is a boost from Simon Property Group’s previous quarterly dividend of $2.00. The ex-dividend date was Monday, September 9th. Simon Property Group’s dividend payout ratio is 104.46%.

Insiders Place Their Bets

In other news, Director Allan B. Hubbard bought 370 shares of Simon Property Group stock in a transaction dated Monday, September 30th. The shares were bought at an average price of $167.30 per share, for a total transaction of $61,901.00. Following the purchase, the director now owns 34,301 shares of the company’s stock, valued at approximately $5,738,557.30. This trade represents a 0.00 % increase in their ownership of the stock. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Corporate insiders own 8.50% of the company’s stock.

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.