Ashton Thomas Securities LLC Purchases Shares of 309 Simon Property Group, Inc. (NYSE:SPG)

Ashton Thomas Securities LLC acquired a new stake in shares of Simon Property Group, Inc. (NYSE:SPG) during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 309 shares of the real estate investment trust’s stock, valued at approximately $52,000.

A number of other institutional investors and hedge funds also recently made changes to their positions in the stock. Los Angeles Capital Management LLC raised its stake in Simon Property Group by 373.6% during the 3rd quarter. Los Angeles Capital Management LLC now owns 1,259,648 shares of the real estate investment trust’s stock worth $212,906,000 after buying an additional 993,694 shares during the period. International Assets Investment Management LLC boosted its holdings in shares of Simon Property Group by 18,764.1% in the 3rd quarter. International Assets Investment Management LLC now owns 892,085 shares of the real estate investment trust’s stock worth $150,780,000 after buying an additional 887,356 shares during the last quarter. Vanguard Group Inc. boosted its stake in Simon Property Group by 1.5% in the first quarter. Vanguard Group Inc. now owns 46,380,446 shares of the real estate investment trust’s stock valued at $7,258,076,000 after acquiring an additional 672,941 shares during the last quarter. Strategic Financial Concepts LLC increased its position in Simon Property Group by 16,795.2% in the second quarter. Strategic Financial Concepts LLC now owns 424,070 shares of the real estate investment trust’s stock worth $64,374,000 after buying an additional 421,560 shares during the last quarter. Finally, Castle Hook Partners LP lifted its holdings in Simon Property Group by 182.0% during the first quarter. Castle Hook Partners LP now owns 480,692 shares of the real estate investment trust’s stock valued at $75,223,000 after purchasing an additional 310,207 shares during the last quarter. Institutional investors own 93.01% of the company’s stock.

Insider Buying and Selling at Simon Property Group

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

Simon Property Group Trading Up 0.6 %

NYSE SPG opened at $179.22 on Thursday. The stock has a 50-day moving average of $169.89 and a 200-day moving average of $158.18. The company has a current ratio of 2.00, a quick ratio of 2.04 and a debt-to-equity ratio of 8.20. Simon Property Group, Inc. has a 1-year low of $118.60 and a 1-year high of $182.84. The firm has a market cap of $58.43 billion, a PE ratio of 23.86, a price-to-earnings-growth ratio of 10.40 and a beta of 1.74.

Simon Property Group (NYSE:SPG) last announced its quarterly earnings data on Friday, November 1st. The real estate investment trust reported $1.46 earnings per share for the quarter, missing the consensus estimate 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 company had revenue of $1.48 billion during the quarter, compared to the consensus estimate of $1.32 billion. During the same quarter in the previous year, the firm posted $3.20 EPS. The business’s revenue for the quarter was up 4.9% compared to the same quarter last year. As a group, sell-side analysts forecast that Simon Property Group, Inc. will post 12.79 EPS for the current year.

Simon Property Group Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, December 30th. Shareholders of record on Monday, December 9th will be issued a $2.10 dividend. This represents a $8.40 dividend on an annualized basis and a yield of 4.69%. The ex-dividend date of this dividend is Monday, December 9th. This is a positive change from Simon Property Group’s previous quarterly dividend of $2.05. Simon Property Group’s dividend payout ratio (DPR) is 111.85%.

Wall Street Analyst Weigh In

A number of equities analysts have recently commented on the company. Truist Financial raised their price target on Simon Property Group from $147.00 to $158.00 and gave the stock a “hold” rating in a report on Wednesday, August 28th. Evercore ISI raised shares of Simon Property Group from an “in-line” rating to an “outperform” rating and boosted their price target for the stock from $160.00 to $172.00 in a research note on Monday, September 16th. Scotiabank raised their price objective on shares of Simon Property Group from $152.00 to $169.00 and gave the company a “sector perform” rating in a research report on Monday, August 26th. StockNews.com lowered shares of Simon Property Group from a “buy” rating to a “hold” rating in a research report on Thursday, October 10th. Finally, Stifel Nicolaus restated 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. Seven investment 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 has a consensus rating of “Hold” and an average 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.