Assenagon Asset Management S.A. Increases Stock Position in Simon Property Group, Inc. (NYSE:SPG)

Assenagon Asset Management S.A. increased its position in Simon Property Group, Inc. (NYSE:SPG) by 8.6% in the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 7,650 shares of the real estate investment trust’s stock after acquiring an additional 607 shares during the period. Assenagon Asset Management S.A.’s holdings in Simon Property Group were worth $1,293,000 at the end of the most recent reporting period.

A number of other hedge funds also recently added to or reduced their stakes in the company. Greystone Financial Group LLC raised its holdings in Simon Property Group by 2.3% in the 3rd quarter. Greystone Financial Group LLC now owns 39,701 shares of the real estate investment trust’s stock worth $6,710,000 after acquiring an additional 889 shares during the last quarter. Hennion & Walsh Asset Management Inc. raised its holdings in Simon Property Group by 29.5% in the 3rd quarter. Hennion & Walsh Asset Management Inc. now owns 8,219 shares of the real estate investment trust’s stock worth $1,389,000 after acquiring an additional 1,871 shares during the last quarter. International Assets Investment Management LLC raised its stake in Simon Property Group by 18,764.1% during the 3rd quarter. International Assets Investment Management LLC now owns 892,085 shares of the real estate investment trust’s stock valued at $150,780,000 after buying an additional 887,356 shares during the last quarter. MFA Wealth Advisors LLC raised its stake in Simon Property Group by 7.3% during the 3rd quarter. MFA Wealth Advisors LLC now owns 2,898 shares of the real estate investment trust’s stock valued at $490,000 after buying an additional 198 shares during the last quarter. Finally, Greenleaf Trust raised its stake in Simon Property Group by 1.2% during the 3rd quarter. Greenleaf Trust now owns 9,736 shares of the real estate investment trust’s stock valued at $1,646,000 after buying an additional 113 shares during the last quarter. 93.01% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other news, Director Allan B. Hubbard bought 370 shares of the company’s stock in a transaction that occurred on Monday, September 30th. The stock was bought at an average price of $167.30 per share, with a total value of $61,901.00. Following the acquisition, the director now owns 34,301 shares of the company’s stock, valued at approximately $5,738,557.30. This represents a 0.00 % increase in their position. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. 8.50% of the stock is currently owned by insiders.

Analyst Ratings Changes

SPG has been the subject of a number of research reports. Truist Financial boosted their target price on shares of Simon Property Group from $147.00 to $158.00 and gave the company a “hold” rating in a research note on Wednesday, August 28th. Mizuho boosted their target price on shares of Simon Property Group from $155.00 to $158.00 and gave the company a “neutral” rating in a research note on Monday, August 19th. Scotiabank boosted their target price on shares of Simon Property Group from $152.00 to $169.00 and gave the company a “sector perform” rating in a research note on Monday, August 26th. Stifel Nicolaus reiterated a “hold” rating and set a $159.00 target price (up from $157.50) on shares of Simon Property Group in a research note on Thursday, September 12th. Finally, StockNews.com lowered shares of Simon Property Group from a “buy” rating to a “hold” rating in a research note on Thursday, October 10th. Seven analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. According to data from MarketBeat, Simon Property Group presently has an average rating of “Hold” and a consensus target price of $162.78.

Simon Property Group Trading Down 0.8 %

Shares of Simon Property Group stock opened at $167.70 on Friday. The company has a market capitalization of $54.68 billion, a P/E ratio of 21.31, a P/E/G ratio of 9.77 and a beta of 1.74. The company has a debt-to-equity ratio of 7.53, a quick ratio of 2.04 and a current ratio of 2.04. The company has a fifty day moving average of $168.55 and a 200 day moving average of $156.27. Simon Property Group, Inc. has a fifty-two week low of $113.40 and a fifty-two week high of $177.08.

Simon Property Group (NYSE:SPG) last issued its earnings results on Monday, August 5th. The real estate investment trust reported $1.51 earnings per share for the quarter, missing the consensus estimate of $2.93 by ($1.42). The firm had revenue of $1.32 billion during 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 quarterly revenue was up 4.8% on a year-over-year basis. During the same period in the prior year, the company posted $2.88 EPS. On average, sell-side analysts anticipate that Simon Property Group, Inc. will post 12.85 earnings per share for the current fiscal year.

Simon Property Group Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, December 30th. Investors of record on Monday, December 9th will be issued a $2.10 dividend. This represents a $8.40 annualized dividend and a yield of 5.01%. This is an increase from Simon Property Group’s previous quarterly dividend of $2.05. Simon Property Group’s dividend payout ratio is currently 104.19%.

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.