Capital Performance Advisors LLP Takes $30,000 Position in Simon Property Group, Inc. (NYSE:SPG)

Capital Performance Advisors LLP acquired a new position in Simon Property Group, Inc. (NYSE:SPG) during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor acquired 176 shares of the real estate investment trust’s stock, valued at approximately $30,000.

Several other institutional investors have also added to or reduced their stakes in the company. Clearstead Trust LLC purchased a new stake in shares of Simon Property Group in the first quarter worth approximately $25,000. EntryPoint Capital LLC purchased a new stake in Simon Property Group in the first quarter worth $26,000. Opal Wealth Advisors LLC bought a new stake in shares of Simon Property Group during the second quarter worth $25,000. Wetzel Investment Advisors Inc. purchased a new stake in shares of Simon Property Group during the second quarter valued at $27,000. Finally, Pathway Financial Advisers LLC bought a new position in shares of Simon Property Group in the first quarter worth about $29,000. Institutional investors own 93.01% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities analysts have commented on SPG shares. Mizuho upped their target price on shares of Simon Property Group from $155.00 to $158.00 and gave the stock a “neutral” rating in a research note on Monday, August 19th. Truist Financial raised their price objective on Simon Property Group from $147.00 to $158.00 and gave the stock a “hold” rating in a report on Wednesday, August 28th. Stifel Nicolaus reissued a “hold” rating and set a $159.00 price target (up previously from $157.50) on shares of Simon Property Group in a research report on Thursday, September 12th. Evercore ISI upgraded Simon Property Group from an “in-line” rating to an “outperform” rating and lifted their price objective for the company from $160.00 to $172.00 in a report on Monday, September 16th. Finally, Piper Sandler reiterated a “neutral” rating and set a $175.00 target price (down from $190.00) on shares of Simon Property Group in a report on Tuesday, September 3rd. Seven analysts have rated the stock with a hold rating and three have given a buy rating to the company. According to data from MarketBeat.com, Simon Property Group currently has an average rating of “Hold” and a consensus target price of $162.78.

Simon Property Group Stock Performance

SPG stock opened at $181.34 on Tuesday. The firm has a 50-day simple moving average of $169.33 and a two-hundred day simple moving average of $157.66. The company has a debt-to-equity ratio of 8.20, a quick ratio of 2.04 and a current ratio of 2.00. Simon Property Group, Inc. has a one year low of $113.46 and a one year high of $181.86. The firm has a market cap of $59.12 billion, a price-to-earnings ratio of 23.84, a PEG ratio of 10.44 and a beta of 1.74.

Simon Property Group (NYSE:SPG) last posted its earnings results on Friday, November 1st. The real estate investment trust reported $1.46 EPS for the quarter, missing analysts’ consensus estimates of $3.00 by ($1.54). Simon Property Group had a net margin of 43.36% and a return on equity of 76.21%. The firm had revenue of $1.48 billion for the quarter, compared to analysts’ expectations of $1.32 billion. During the same period in the previous year, the company earned $3.20 EPS. The company’s revenue was up 4.9% on a year-over-year basis. On average, equities analysts forecast that Simon Property Group, Inc. will post 12.79 EPS for the current fiscal year.

Simon Property Group Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, December 30th. Investors of record on Monday, December 9th will be paid a dividend of $2.10 per share. This represents a $8.40 annualized dividend and a yield of 4.63%. This is an increase from Simon Property Group’s previous quarterly dividend of $2.05. The ex-dividend date of this dividend is Monday, December 9th. Simon Property Group’s payout ratio is 109.19%.

Insider Activity at Simon Property Group

In other Simon Property Group news, Director Allan B. Hubbard purchased 370 shares of the stock in a transaction on Monday, September 30th. The stock was acquired at an average price of $167.30 per share, with a total value of $61,901.00. Following the completion of the acquisition, the director now owns 34,301 shares in the company, valued at $5,738,557.30. The trade was a 0.00 % increase in their ownership of the stock. The acquisition was disclosed in a filing with the SEC, which can be accessed through this link. 8.50% of the stock is currently owned by corporate insiders.

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.