Connor Clark & Lunn Investment Management Ltd. Has $1.57 Million Stock Holdings in Simon Property Group, Inc. (NYSE:SPG)

Connor Clark & Lunn Investment Management Ltd. raised its position in shares of Simon Property Group, Inc. (NYSE:SPG) by 126.2% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 9,279 shares of the real estate investment trust’s stock after purchasing an additional 5,177 shares during the period. Connor Clark & Lunn Investment Management Ltd.’s holdings in Simon Property Group were worth $1,568,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. EntryPoint Capital LLC bought a new stake in shares of Simon Property Group during the 1st quarter valued at approximately $26,000. Silvercrest Asset Management Group LLC bought a new stake in shares of Simon Property Group during the first quarter worth $208,000. B. Riley Wealth Advisors Inc. increased its holdings in shares of Simon Property Group by 16.7% during the first quarter. B. Riley Wealth Advisors Inc. now owns 10,980 shares of the real estate investment trust’s stock worth $1,718,000 after buying an additional 1,574 shares in the last quarter. Tidal Investments LLC lifted its stake in shares of Simon Property Group by 19.5% in the 1st quarter. Tidal Investments LLC now owns 12,849 shares of the real estate investment trust’s stock valued at $2,006,000 after acquiring an additional 2,099 shares during the last quarter. Finally, iA Global Asset Management Inc. boosted its holdings in shares of Simon Property Group by 29.0% during the 1st quarter. iA Global Asset Management Inc. now owns 9,767 shares of the real estate investment trust’s stock valued at $1,528,000 after acquiring an additional 2,195 shares in the last quarter. 93.01% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

A number of equities analysts have issued reports on the company. Mizuho upped their target price on Simon Property Group from $155.00 to $158.00 and gave the stock a “neutral” rating in a report on Monday, August 19th. Stifel Nicolaus reaffirmed a “hold” rating and issued a $159.00 price objective (up previously from $157.50) on shares of Simon Property Group in a research note on Thursday, September 12th. Evercore ISI upgraded shares of Simon Property Group from an “in-line” rating to an “outperform” rating and lifted their target price for the stock from $160.00 to $172.00 in a research report on Monday, September 16th. Piper Sandler restated a “neutral” rating and issued a $175.00 price target (down from $190.00) on shares of Simon Property Group in a research report on Tuesday, September 3rd. Finally, StockNews.com lowered shares of Simon Property Group from a “buy” rating to a “hold” rating in a report on Thursday, October 10th. Seven equities research analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. According to MarketBeat, Simon Property Group presently has an average rating of “Hold” and an average price target of $162.78.

Simon Property Group Trading Up 1.9 %

SPG opened at $183.48 on Wednesday. The stock has a market cap of $59.87 billion, a PE ratio of 24.43, a price-to-earnings-growth ratio of 10.57 and a beta of 1.74. The company has a quick ratio of 2.00, a current ratio of 2.00 and a debt-to-equity ratio of 8.20. Simon Property Group, Inc. has a twelve month low of $119.92 and a twelve month high of $183.96. The company has a fifty day moving average of $173.24 and a 200-day moving average of $160.72.

Simon Property Group (NYSE:SPG) last issued 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). The business had revenue of $1.48 billion for the quarter, compared to analyst estimates of $1.32 billion. Simon Property Group had a return on equity of 76.21% and a net margin of 43.36%. The business’s revenue was up 4.9% on a year-over-year basis. During the same quarter in the previous year, the business posted $3.20 earnings per share. On average, sell-side analysts predict 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. Stockholders of record on Monday, December 9th will be given a dividend of $2.10 per share. 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. This represents a $8.40 annualized dividend and a dividend yield of 4.58%. Simon Property Group’s dividend payout ratio (DPR) is 111.85%.

Insider Activity

In related news, Director Allan B. Hubbard purchased 370 shares of Simon Property Group stock in a transaction on Monday, September 30th. The stock was acquired at an average cost of $167.30 per share, for a total transaction of $61,901.00. Following the completion of the acquisition, the director now owns 34,301 shares of the company’s stock, valued at $5,738,557.30. This trade represents a 1.09 % increase in their position. The purchase was disclosed in a legal filing with the SEC, which can be accessed through this link. 8.50% of the stock is currently owned by company 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.