Simon Property Group, Inc. (NYSE:SPG) Shares Acquired by OneDigital Investment Advisors LLC

OneDigital Investment Advisors LLC grew its position in shares of Simon Property Group, Inc. (NYSE:SPG) by 3.0% in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 6,509 shares of the real estate investment trust’s stock after purchasing an additional 190 shares during the quarter. OneDigital Investment Advisors LLC’s holdings in Simon Property Group were worth $1,100,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Opal Wealth Advisors LLC purchased a new stake in shares of Simon Property Group in the second quarter valued at approximately $25,000. EntryPoint Capital LLC acquired a new stake in Simon Property Group in the 1st quarter worth about $26,000. Wetzel Investment Advisors Inc. purchased a new stake in shares of Simon Property Group during the second quarter worth approximately $27,000. RFP Financial Group LLC grew its stake in Simon Property Group by 727.3% during the 2nd quarter. RFP Financial Group LLC now owns 182 shares of the real estate investment trust’s stock valued at $28,000 after acquiring an additional 160 shares in the last quarter. Finally, Pathway Financial Advisers LLC acquired a new stake in shares of Simon Property Group in the first quarter valued at approximately $29,000. Hedge funds and other institutional investors own 93.01% of the company’s stock.

Simon Property Group Stock Performance

NYSE:SPG opened at $180.85 on Tuesday. The firm has a market cap of $58.96 billion, a price-to-earnings ratio of 24.08, a price-to-earnings-growth ratio of 10.52 and a beta of 1.74. The firm’s fifty day moving average price is $171.15 and its 200 day moving average price is $159.25. The company has a debt-to-equity ratio of 8.20, a current ratio of 2.00 and a quick ratio of 2.04. Simon Property Group, Inc. has a 1-year low of $119.92 and a 1-year high of $182.84.

Simon Property Group (NYSE:SPG) last posted its quarterly earnings results on Friday, November 1st. The real estate investment trust reported $1.46 earnings per share 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 business had revenue of $1.48 billion during the quarter, compared to analysts’ expectations of $1.32 billion. During the same quarter last year, the firm earned $3.20 earnings per share. The firm’s quarterly revenue was up 4.9% compared to the same quarter last year. On average, sell-side analysts expect that Simon Property Group, Inc. will post 12.79 EPS for the current year.

Simon Property Group Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, December 30th. Investors of record on Monday, December 9th will be issued a dividend of $2.10 per share. The ex-dividend date of this dividend is Monday, December 9th. This represents a $8.40 dividend on an annualized basis and a yield of 4.64%. This is an increase from Simon Property Group’s previous quarterly dividend of $2.05. Simon Property Group’s payout ratio is currently 111.85%.

Analyst Ratings Changes

SPG has been the topic of several analyst reports. Piper Sandler reaffirmed a “neutral” rating and issued a $175.00 target price (down previously from $190.00) on shares of Simon Property Group in a report on Tuesday, September 3rd. Scotiabank lifted their price target on Simon Property Group from $152.00 to $169.00 and gave the stock a “sector perform” rating in a report on Monday, August 26th. Evercore ISI upgraded shares of Simon Property Group from an “in-line” rating to an “outperform” rating and increased their price target for the company from $160.00 to $172.00 in a research note on Monday, September 16th. Mizuho lifted their price target 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. Finally, StockNews.com downgraded shares of Simon Property Group from a “buy” rating to a “hold” rating in a research note on Thursday, October 10th. Seven research analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus target price of $162.78.

Insiders Place Their Bets

In other news, Director Allan B. Hubbard purchased 370 shares of the stock in a transaction that occurred on Monday, September 30th. The shares were acquired at an average price of $167.30 per share, for a total transaction of $61,901.00. Following the acquisition, the director now directly owns 34,301 shares in the company, valued at approximately $5,738,557.30. The trade was a 1.09 % increase in their position. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 8.50% of the stock is currently owned by company insiders.

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.